Toronto’s 2019 real estate market has proven to be quirky and unpredictable at times – even our condos have been a little unpredictable despite their incredible strength in recent years. When a market transition there can be certain neighbourhoods and developments that return to being a great place to invest, versus in the past when these had become too costly to acquire.
The Best Places To Invest In Real Estate 2019:
Lawrence Park & Lytton Park
The higher-end neighbourhoods in Toronto have seen a substantial drop in percentage value. As noted through the media and previous blogs of mine, detached homes have been more impacted on a costs basis than any other type of home in Toronto. Being that Lawrence Park and Lytton Park are primarily home to detached houses, this is a great opportunity to invest. 2019 is the year of the “Forever Home” – if you can afford it.
Downtown Toronto Condos
This is a general statement. Let me clarify, buy a quality built condo in a great neighbourhood is a great investment in 2019. Many people claim there is:
- A condo bubble (there isn’t!!);
- Toronto needs more condos, buy the best, these will retain their value and increase above and beyond the generic options that are out there. Think red brick lofts, for example – these are unique, a point of difference against its competitors.
- That people don’t want to live in condos (which is being disproven by lifestyle decisions). Torontonians desire to live in the core (near work and friends) combines with the demographic shift with people choosing to simplify their lives and expenses many boomers are downsizing and selling their larger homes for a condo that requires little to no maintenance.
Riverside & Corktown
These two neighbourhoods are being transformed before our eyes. Two relatively forgotten (or perhaps unknown) locations are booming with condos to invest in. The transit options are good (streetcars and two highways to choose from: Gardiner Expressway and the DVP). Streetcar Developments’ condos on the Toyota dealership land is in full effect right now. The Canary district on the previously unused land at the base of the Bayview Extension is approximately halfway through completion. There are many more new condos being developed in these areas. This will be a thriving condo neighbourhood and definitely one of the best places to invest in real estate. The setbacks from the street make for a welcoming neighbourhood.
It is in times of real estate market change where investment opportunities can be had. Knowing the neighbourhood history, demographics, employment and the direction the developments of these neighbourhoods are going in make all the difference when it comes to future growth and current enjoyment for those who live in the area.
