These are Toronto's hottest neighbourhoods for condos right now
Toronto and condos pretty much go hand-in-hand. We've been talking about the condo boom for quite some time now, and as cranes continue to dominate our skyline, it doesn't look like it's going to cool down substantially anytime soon.
But some areas are hotter than others. BuzzBuzzHome released a report looking at new the current market and new residential construction, titled Toronto New Home Outlook 2017, and it features a section that looks at the most promising neighbourhoods for condo developments in the city.
BuzzBuzzHome identified five key areas: St. Lawrence, the Entertainment District, the Garden District, the Fashion District and Church Wellesley Village.
Sully Dawood from the research team explained the methodology for pinpointing these spots. “We ranked the neighbourhoods by the number of units currently that are currently in registration,” he told us.
“So we kind of took that as a proxy of stuff that’ll be cool in 2017 because it’s in registration right now.”
Here's how BuzzBuzzHome crunched the numbers on these neighbourhoods. Pending units refers to suites in buildings that are still in the planning stages, while registration units are in developments that are already approved and underway.
The Entertainment District
- 24 current developments
- 3,094 pending units
- 3,712 registration units
- 4,431 selling units
- $919: average price per square foot
Church Wellesley Village
- 17 current developments
- 2,073 pending units
- 1,103 registration units
- 4,404 selling units
- $871: average price per square foot
St. Lawrence
- 15 current developments
- 1,144 pending units
- 4,106 registration units
- 1,909 selling units
- $730: average price per square foot
Garden District
- 15 current developments
- 533 pending units
- 2,494 registration units
- 2,752 selling units
- $650: average price per square foot
Fashion District
- 17 current developments
- 552 pending units
- 2,015 registration units
- 1,942 selling units
- $650: average price per square foot
