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3 Reasons Why Toronto Is One Of The Best Cities In The World for Real Estate Investment

1. It's a tech hub - and it just keeps getting techier.

Move over, Silicon Valley: you've got a northern competitor. Toronto is one of the world's fastest-growing technology hubs, with a thriving startup culture and major companies competing for office space downtown. 

Tech giant and innovator Cisco, for instance, is building a $100 million innovation centre in Toronto to study and develop technology around the "internet of everything". And the city's Economic Development and Culture department released a report not long ago that indicated that 30% of the entire country's IT and technology business is located in Toronto. That's worth over $52billion annually. We're the biggest tech hub in the country - and one of the bigger ones in North America.

2. It offers an exceptional quality of life.

Let's face it: Toronto's just an incredible place to live. According to the Economist Intelligence Unit, in fact, it's the best place to live in the entire world. Toronto figures regularly in the top ten cities in the world to live in various city rankings all the time. It's a prosperous, beautiful economic centre that's nevertheless just a stone's throw - sometimes literally - from some of the best natural beauty Canada has to offer.

One of the surprising hallmarks of Toronto's quality of life? The city offers a lot for people at every stage of life and in almost every economic bracket. Unlike London, which is becoming more and more economically stratified (to the point where large sections of elite areas are becoming veritable "ghost towns" because of all the non-resident property owners), Toronto is a vibrant and diverse city full of residents who don't just want to own here, they want to live here, too. 

3. It has a healthy economy.

UK Business Insider ranks Toronto as one of the Top 10 most Economically Powerful Cities Worldwide.

Speaking of economic diversity: this is one of the major reasons why Toronto isn't just a great place to live, but it's a great place to invest in real estate, too. Despite the constant headlines about rising property prices - and they are rising - incomes are rising, too. TREB Director of Market Analysis Jason Mercer has spoken many times about the fact that the average Toronto home continues to be affordable for many Toronto and GTA families, particularly as carrying costs are currently low due to low mortgage rates.

Another benefit to economic diversity? Homes across the price spectrum are selling. The most people who prosper, the more people can afford to purchase a home, and Toronto's strong economy has helped put home ownership within the reach of many buyers who would be priced out of the market in a city like London. So whether someone is purchasing a $200,000 studio condo or a $2 million detached family home, they are making an excellent investment in their life and their future.

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