google-site-verification: googleb853639c0658e525.html

50 Yorkville Luxury Toronto CondoThe real estate market in Toronto and the GTA is changing, especially for luxury customers. Intensification is the name of the game, with less and less land available for residential use, more prospective home buyers searching for the ideal detached home in a walkable neighbourhood, and existing communities fighting the construction of condominium buildings and similar development projects.

So, where are Toronto's luxury buyers going? And who are they? Foreign investment in Toronto's luxury market has become a major trend this year, with buyers from the US, China, Russia, and the Middle East making up the majority of the international crowd. These international buyers are driving prices up throughout Toronto, where a small bungalow in Willowdale recently sold for $421,800 over the asking price to a Chinese university student. That's just the tip of the iceberg.

Luxury real estate sales are expected to climb, in part because recent changes to the mortgage rules in Canada have less impact on luxury buyers. However, the demand seems higher for detached homes, creating a price gap at a time when a surprising number of luxury condos are available. From what we can tell, luxury buyers from Canada and other parts of the world are looking for the same thing: a detached home with modern amenities in a good area, with reasonable density and little crowding. They may also be looking for homes they can knock over and renovate from the ground up, which has become a trend in Willowdale and elsewhere. Also, more international buyers may be looking in communities where their first languages are spoken, such as Vaughan and Markham. While urban centres are usually heralded for their diversity, communities where you can raise a child with two languages among others who share their culture can be harder to find -- especially if you're looking for a large home that can house multiple generations of the same family.

So, where should you buy if you're looking for an area in Toronto with detached homes that will change over time, or where you can spend more money on a luxury renovation after purchase? Try Eglinton West or Little India, where residents priced out of surrounding neighbourhoods are settling and gentrifying. In ten years these neighbourhoods will have come into their own, and they'll be the next target of luxury buyers who want to be close to the city without sacrificing space.

Nick Thompson

Read full post
Categories:   111 Glen Road | 15 Scarth Road | 15 Scarth Road condos | 166 Douglas Drive | 188 Hudson Drive | 2 Orchard Green | 2 Roxborough #402 | 2 Roxborough Street East | 2014 to 2015 | 28 St Andrews Gardens | 3 Highbourne Road | 314 Palmerston | 314 Palmerston Blvd | 51 Roxborough Drive | 8 Dale Ave | 85 Binscarth Road | 9 Jackes Ave | American Graffiti | April market report | Bennington Heights | Best time to list | Chic and stylish renovation | Collingwood Chalet | Coming Soon | Contemporary Luxury Real Estate | contemporary luxury real estate Toronto | Downsizing Tips | Exclusive Listing | Exclusive Rosedale Listings | Exclusive Toronto Listing | Fall Market | February Market Report Toronto | Forest Hill Family Home | Front Pad Parking in Toronto | Glengrove Ave | Globe and Mail Home of the Week | Great Location!! | Green Home - Electrical | Heli-skiing, Cat-skiing, epic champagne powder | Home of the week | Homes and Cottages Magazine | Hot Toronto Condo | June Market Report | Just Listed | Lawrence Park South, Toronto C04 Real Estate | Listed by The Thompson Team | Location location location | March Market Report Toronto | Media and Toronto Real Estate | Midtown Toronto | Modern Magazine | Moratorium on Parking | National Post | New Condo Listings | New Condo units | New Listing | New Listings vs Sales Price | New Mortgage Rules | New Rosedale Condo | Nice-Martin Magazine | Objekt Magazine | Objekt Magazine features 21 Buckingham | October Sales Increase 21% | Pied-a-Terre in Rosedale! | Post City Dream Home | Real Estate obsessed | Renovation Party | Revelstoke British Columbia | Revelstoke chalet for sale | Rosedale | Rosedale Condo | Rosedale real estate | Rosedale-Moore Park, Toronto C09 Real Estate | Schools and Toronto Real Estate | September 2016 real estate numbers | Sold over ask | South facing Toronto lot | South Rosedale | Sport Court | Spring 2016 Market | Spring Cl;eaning | Stunning Art Lovers Condo | Stunning Condo | Summerhill Condo For Sale | Teddington Park | The Backyard | Thompson Team listing | Toronto | Toronto April Market Report | Toronto Community Events | Toronto Economy | Toronto Events | Toronto Events June | Toronto events March | Toronto Events March April May | Toronto Events May | Toronto in International Media | Toronto Livable City | Toronto Luxury Real Estate | Toronto March Market | Toronto Market Report | Toronto Pan Am Games | Toronto Prices 5 years ago | Toronto real estate | Toronto Real Estate - Schools | Toronto Real Estate 2015 | Toronto Real Estate Market | Toronto Real Estate Market Report | Toronto Real Estate new listing increase | Toronto Real Estate Prices | Toronto Real Estate Stats | Toronto Residential Architecture | Toronto Schools - Public Vs Private | Toronto Spring Market | Toronto Summer Bliss | Toronto Tourism | Toronto Waterfront | Torontos Workplace | Waterfront Building lot close to Toronto | Wolf House