Resale Condos in the Entertainment District command some of the highest per square foot prices in Toronto. The location is one of the most desirable areas for young professionals to live and vacancy rates are at an all-time low. Recently finished buildings like Bond and Bisha are selling right around $1,000 PSF. This is today’s reality in Toronto’s tight market and it will get more expensive!
Here is a summary of average selling prices at neighbouring buildings:
|CONDO NAME||PER SQUARE FOOT (PSF) AVERAGE|
|Peter & Adelaide Condos (Pre-con 2017)||$945|
|Nobu Residences (Pre-con 2017)||$1,185|
|Bisha Hotel & Residences||$1,059|
|Charlie Condos (Great Gulf)||$933|
|Peter Street Condos||$939|
|Festival Tower TIFF Condos||$929|
|The Hudson (Great Gulf)||$924|
- Some of the best Hotels, Luxury Boutiques, Designer Stores, Bars & Gourmet Cuisine
- Amazing access to the Financial District and close to the PATH system
- World class entertainment at your door-step – Musicals, Theatre, Music & more
- Toronto’s biggest Sports Venues minutes away: ACC, Rogers Centre, BMO Field
- Home to the Toronto International Film Festival
- King West has often been compared with Soho, New York
- WalkScore of 100/100: Walker’s Paradise – Daily errands do not require a car.
- Transit score of 100/100: Rider’s Paradise – World Class public transportation
- Close access to Union Station, Gardiner Expressway & Toronto City Airport
- High Average Household Income – $100,351
- Major Office Developments In the Area will fuel housing demand
King West is the most noticeable Concentration & Growth of tech offices in Toronto: “Tech companies place greater value on King West area because their target recruitment are Primary Millennial Base that values Live, Work & Play Environment.” – CREB 2017
King West is Toronto’s Tech & Creative Sector and home to:
- 600 Small-Medium Sized Businesses
- 45 Architectural & Development Firms
- 95 Interior Design/Advertising/Marketing/PR Firms
- 100 Tech Firms: Twitter, eBay, Uber, Shopify, Kobo, StubHub, AOL, Mozilla & more
King West & Entertainment District are seeing huge growth, much higher than the average for the City of Toronto. From 2016 to 2017 prices in the Entertainment District grew by 31.9% compared to a Toronto average condo price growth of 22.56%.
Great Gulf is one of the largest, experienced and most established developers in the country, which is evidenced by their portfolio of condo buildings in Toronto and the Entertainment District that set the bar for their neighbourhoods and trade at the highest prices in the resale market.
Great Gulf creates homes that are quieter, brighter, healthier, more energy-efficient, and better built by every measure. Here are some examples of the world-class buildings that Great Gulf has delivered:
- The Hudson – 438 King St W
- Charlie – 8 Charlotte St
- 18 Yorkville – 18 Yorkville Ave
All recent pre-construction condo launches in the neighbourhood have sold out in a few weeks including Nobu Residences and Peter & Adelaide in 2017. The demand for more units in the area is huge. Rentals are gone in a few days and resales are averaging 30-60 days.
The Entertainment District is one of the most sought after neighbourhoods in Toronto and the rents are approximately 15% higher than the City average. with rental rates now averaging $4.50 PSF and higher. This neighbourhood has very limited availability and we expect rental rates to continue to grow strong. Under 1% vacancy rates in the King West Condo market.
We are personally invested in condos at Bisha and SoHo Metropolitan, which have proven to be excellent investments over the years.
Why purchase Toronto Real Estate?
- Toronto is one of the Top 3 Best Cities to live in in North America
- Toronto has the highest immigration rate in the world
- Toronto is home to several top-rated educational, financial, health, and business institutions.
- Condos accounted for 91% of Toronto New homes Sales in June 2017
- Under 2% vacancy rates in Toronto Condo Apartments
- 11% Rental demand Increase
- Condo rentals in the GTA are increasing by more than 11%
- 28% Increase in resale values
- Average condo resale prices in Toronto are 28% higher in 2017
- Population growth vs. low vacancy = continuing decline in inventory & Increase in rental prices
Toronto has the highest annual per capita immigration rate in the world, with half of all Canadian immigrants settling in the GTA. With high population growth vs. low vacancy rates in condo apartments. Toronto offers a wise investment in real estate, with a continuing decline in active inventories, drop in unsold units under construction, and increase in GTA rental prices.
As the epicentre of Canada’s economy and many international industries, Toronto is home to several top-rated educational, financial, health and business institutions.
Contact us now for full details about this opportunity!
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