WHERE TO BUY
Top 5 Areas in GTA for Maximizing Your Return on Investment
Whether you’re buying a property to live in, or looking for a great investment – buying early in a fast-growing area is the ultimate goal to see a large increase in property value over a short period of time.
Here are 5 key areas to watch for in the Greater Toronto Area:
Downtown Toronto – East Core
East of Yonge Street has undergone remarkable growth over the past 5 years. Being one of Toronto’s most dynamic and fastest growing districts has helped drive exceptional rent growth in this area. Rent growth in the East Core has increased 20% in 2017, compared to the 11% in rest of Toronto, and more developments choose to come to East Core.
It’s also becoming a hotspot for new development, especially in education and health science, including: A new 333,000 sq.ft Building in Ryerson University Campus, as well as St. Michaels Hospital’s $300-million redevelopment.
East Core, with 24/7 by streetcars, and walking distance to subway stations, Eaton Center, Yonge-Dundas Square, and lots of shops and restaurants, is also a nest for students of Ryerson University or the University of Toronto.
In 2012, Markham changed its designation from town to city, and is now Canada’s 16th largest city with over 328,000 population, and Canada’s high-tech capital – as it is home to major tech companies like AMD, Toshiba, Motorola, IBM, Lucent, and Sun Microsystems. York University will be opening its Markham Campus soon, bringing thousands of students to the area.
Good schools and hospitals, and easy access to downtown Toronto make Markham a optimal choice to invest. You will pay lower price than in downtown Toronto, but get better picturesque neighbourhood with lots of shopping, restaurants, and boutiques.
As a highly sought-after neighbourhood in Toronto, North York has its own separate downtown. The heart of North York is centered around the busy Yonge Street which is bustling with shops, restaurants, and entertainment, and easy transit access to the downtown core, including short subway rides.
The neighbourhood features large parks for recreation, good schools, hospitals, and plenty of shopping malls and plazas nearby. It also has plenty to do in terms of live entertainment, museums, shopping, and restaurants.
Downtown Toronto – Waterfront
Right now you have a once-in-a-lifetime opportunity to get in on Toronto’s waterfront projects. Toronto’s waterfront is currently undergoing one of the world’s largest urban revitalization projects – transforming the previously under-used prime land, into a vibrant area for the public.
The revitalization aims to create 40,000 new residences and 40,000 new jobs in the area. It will not only extend the city closer to the waterfront, but also build entirely new mixed-use neighbourhoods that include offices, expanded public transit, parks, public recreational spaces, and even schools.
The major growth has attracted major companies such as Google’s sister company, SideWalk Labs, to build a 12-acre high-tech “smart city” by the waterfront.
Richmond Hill is growing rapidly and appeals to families because of the safe neighbourhoods, and here you can get mostly larger and more affordable properties.
Despite its rapid growth, Richmond Hill maintains its small-town feel with a sense of community – not to mention it has over a hundred parks, recreational areas, and trails. The natural beauty of this suburb is a large appeal to growing families.
Future subway extension makes it a hot place for huge potential growth in real estate investment too.