Best Downtown Toronto Neighborhoods to Buy a Condo in 2021
The pandemic had a massive impact on the real estate market in Toronto, and downtown was no exception. According to data from the Toronto Real Estate Regional Board, there is a considerable increase in available condos in Toronto, downtown included.
With the pandemic losing its grip and the vaccination steaming ahead, things are expected to start going back to normal soon enough. That should also include the condo market in Downtown Toronto. We already see some signs of life in the condo sector, but things haven’t taken off as some analysts predict, but considering everything, it is only a matter of time.
With all that in mind and the numerous available condos in Downtown Toronto, it is fair to suggest that this is a great time to make one such investment. But in which neighborhood exactly in Toronto to invest? That’s the proper question.
To help you with that, we have assembled a list of what we believe are the best Downtown Toronto neighborhoods for buying a condo. These are neighborhoods that are always held in high regard by Torontonians and at the same time praised by real estate investors. Here’s what we got.
There is a wide selection of condos in Fort York featuring different floorplans. Condos there present a unique blend of style and comfort. Its scenic beauty is a major factor that draws people to this neighborhood. The neighborhood is located on the right side of Lake Ontario and was once a military outpost designed to protect the city from a military invasion. In terms of connectivity, you can easily get there by pretty much all means of transport.
This neighborhood is situated at the very heart of Toronto and can offer all the amenities one can ever want for top-notch, urban living. The Rogers Centre, Air Canada Centre, Union Station, the CN Tower, the Entertainment District is within walking distance. Parks, clinics, day-care, supermarkets, schools, banks, restaurants, everything, all is there for you. When in need to escape the city, residents can opt for Lakeshore Boulevard or the Gardiner Expressway.
Bay St. Corridor
Condos in Bay Street Corridor are great for those seeking a residence close to their work and nightlife. The fact that this neighborhood is in the proximity of Ryerson University, the Financial District, and the University of Toronto means that demand will always be there, especially now when things are going back to normal. Lawyers, students, doctors, and those involved in the financial industry are the main inhabitants of this neighborhood. The Yonge Street and the Bloor-Yorkville shopping districts are conveniently close and where there is an amazing selection of great eateries.
This is a neighborhood featuring a great selection of condo buildings featuring amenities such as a fitness room, party room, pools, and so on. The area is also known for the many public parks, such as James Garden, conveniently located near River Humber. In addition to the scenic beauty, residents of Etobicoke can opt to participate in some water activities. The local eateries and coffee shops nicely add to the overall impression that this is one of the best neighborhoods in Toronto.
We can’t make a list of the best neighborhoods in Downtown Toronto without including Yorkville. Anyone interested in high-class urban living and who loves the buzz of the city will find Yorkville exceptionally appealing. Many compare it with New York’s Fifth Avenue or Chicago’s Magnificent Mile. Real estate and condo prices in Yorkville are the highest in the city, as demand never slows down.