What are the hottest Toronto neighbourhoods for Real Estate right now? This is a question we get asked by a number of clients – from first time buyers to condo investors and even those looking to size up or downsize.
There are plenty of great opportunities out there to be had – from pre-construction to family homes, and some of them are in neighbourhoods you may not be too familiar with. So we wanted to showcase some of the places we have our eye on and what makes them a good investment during the summer months in Toronto.
In Corktown, old industrial buildings have been renovated to form studio lofts, apartment-style condominiums and professional offices. Located east of Old Town Toronto and just north of the Distillery District and the proposed West Don Lands project, Corktown remains a refuge for rents lower than most of what downtown can offer, plus amenities and services for families, and is beginning to attract a crowd of young professionals who are keen on the central location and the somewhat more affordable living in Corktown element.
River & Fifth Condos, a new condo development by Broccolini recently launched and was very well-received among investors looking for opportunities in this part of the city. Located at Bayview and Dundas E, Toronto, River & Fifth has a 100/100 walk score and is close to many of the desirable amenities downtown has to offer. Minutes from the Distillery District, and a short TTC ride away from some of the hottest restaurants in Toronto, River & Fifth is a great pre-construction opportunity right now for those looking for their first condo to invest in, or even those looking to purchase and hold to live in.
Many of our clients who are looking to move out of their condo and into their first traditional home have the Junction Triangle at the top of their list. A tiny neighbourhood squeezed in between the Junction, Roncevalles and Bloordale Village, it’s a destination for young families looking for a wonderful neighbourhood to raise a family.
Until recently, the Junction Triangle was one of Toronto’s best-kept secrets. Its charming restaurants, cafes, and watering holes tended to fly under the radar—along with its burgeoning art scene. With its easy access to downtown Toronto it’s no wonder this neighbourhood is popping up on our radar.
Those looking for a new build would be interested in Heritage Towns on the Trail development or Arch Lofts, a stunning church conversion that looks like a dream. We’ve recently taken many clients to look at beautiful fully renovated semi-detached homes perfect for a growing family that are offered at less than $1,000,000.00
With notable Italian, Portuguese and Latin American contingents, Corso-Italia is a fun, lively and active neighbourhood with landmarks, businesses and attractions that reflect this cultural make-up. Heritage and national pride are evident throughout, especially during the World Cup and European soccer championships. During these times, it’s fun to be in the neighbourhood as you’ll find a vibe unlike anywhere else in the city.
Located at Dufferin and St. Clair, Corso Italia-Davenport is close to downtown, boasts tons of personality, and traffic issues notwithstanding, represents an opportunity to buy in a great location at a reasonable price. There’s lots of detached homes and bungalows, some of which have been rebuilt or otherwise modernized, and for those not quite in the market yet, a good supply of duplex and traditional rental apartments.
We love this neighbourhood for those looking for a project. Finding a home in desperate need of a full gut renovation would prove to be an incredible investment with wild returns. There are plenty to be found as we discovered last weekend with our clients – and an offer was submitted. We can’t wait to see how they create their dream home in a hot neighbourhood.
No Toronto neighbourhoods hot list would be complete without mentioning Liberty Village. Love it or hate it, the neighbourhood is still a fantastic opportunity for those first-time buyers looking for a condo in a trendy area, and investors who are looking for a condo to hold and rent.
Those coming into Liberty Village immediately feel the community vibe that it offers. Every amenity you could imagine is at your doorstep including grocery, cafes, fitness facilities and restaurants. You’re close to BMO Field, the waterfront and King Street West, which gives access to the TTC and the rest of the city.
XO Condos, a new pre-construction development by Lifetime Developments recently launched and only a small handful of units remain. It’s the first step in the revitalization of the King/Dufferin area, and is sure to bring even more businesses into the area.
If you’ve got house-hunting on your mind during these summer months, spend some time in each of these neighbourhoods. Trust us, you’ll be hearing more and more about them come the fall market.