Toronto real estate is rapidly growing and changing and the culture of the city’s most popular districts are evolving with it. Through recent years, real estate development has given Torontonians the opportunity to invest in regions all across the city. With the ever-changing landscape, it is hard to decide which district is the best to live.
The following is a list of some of the most popular districts in Toronto based on factors such as return on investment, quality of life, entertainment, and crime rates.
1. Yonge and Eglinton
This is a district that has a neighbourhood feel while being minutes away from the downtown core. It is continuously ranked well for quality of life, employment opportunity, and low crime rates. The one factor that this district does lose points for is entertainment. However, with its close proximity to the downtown core, this is usually not a deciding factor for renters or buyers.
2. The Beaches
The Beaches is a district that seems like an escape from the city just outside the heart of it. With breathtaking views of Lake Ontario, bike and running trails outside of your front door, and great options for housing, the Beaches is an increasingly popular district. During the summer months, people from all over the city spend time in the beaches for access to the trails, dining, and outdoor events.
3. Distillery District
The distillery district is known for its historic feel and heritage, though it is continuously changing to accommodate its commercial and residential demand. Entertainment in this district is a highly ranked factor as there are always festivals and events going on. The cobblestone roads and old distilleries make it a popular destination for those who have an appreciation for historical architecture. However, with demand, cost of housing is also on the rise.
4. Liberty Village
Known as one of the most up and coming neighbourhoods in Toronto, Liberty Village is filled with beautiful condos, great dining, and immediate lake access. It is one of the most expensive districts in the city but is populated by young professionals and families. Liberty Village has a neighbourhood culture with few cars, minimal noise, and excellent cafes. It is highly ranked as a very safe and entertaining district.
This region of the city was previously known for the maintaining the largest amount of preserved Victorian Houses in North America. Though recently, Cabbagetown has changed its culture to become one of the most hip areas in Toronto. Located close to the heart of the city, Cabbagetown manages to maintain a strong neighbourhood feel through festivals, events and the Riverdale Farm. There are always art festivals, new and hip restaurants, and great shopping.
The city is forever changing and so are its districts. As Toronto continues to grow, real estate around the city keeps adjusting to the evolving districts. Along with the above mentioned, there are so many districts within the city to invest in. Each area has its own culture, vibe, and benefits. The decision about which district you should invest in will depend on what you are looking to surround yourself with. Some neighbourhoods focus on family values, entertainment, or cheap housing; it all depends on what you are looking for in your neighbourhood.
Make sure to do your research and find a real estate agent that understands your needs and price range. Study the market to discover when is the right time to buy or sell. Toronto has a place for everyone; you just need to find the district you love.