Condo Pro: Toronto The Great
By on Jan 19, 2012
On a recent trip to Beijing and Shanghai, I was astounded by the attitude toward Canada there. In a Daily News article, I read that 60 per cent of all Chinese who have $10 million in net worth are looking to emigrate – and our country is their number-one choice! Within Canada, Toronto and Vancouver are the most popular cities of interest. I travel a lot, and although I’ve experienced in person that Toronto is a beacon in the global picture, it surprised me how passionate the Chinese are about our lifestyle and opportunities.
Certainly, Toronto is currently the top city in North America when it comes to the condominium market. Earlier this fall, we had 132 cranes on site at buildings that are under construction, and our closest competitor was Mexico City, with 88. New York City came in third with 82 cranes in place. Thus far in 2011, there have been more than 21,000 condominiums sold in the Greater Toronto Area, and predictions are that we may reach 25,000 sales by the end of the year. That would make 2011 the biggest year ever, and Toronto would become the condominium capital of the world!
When it comes to quality of life, Toronto is a global star as well. In 2011, we ranked second overall in the fourth annual Cities of Opportunity report from Price Waterhouse Coopers and the Partnership for New York City. Categories included finance and intellection capital and innovation, health, safety and security. A division of the Financial Times, fDilntelligence published its first American Cities of the Future 2011/12 report and ranked Toronto in the top 10! In fact, Toronto earned seven top-10 rankings including city of the future(#4), economic potential (#3), infrastructure (#5) and quality of life. And Toronto has once again placed fourth in the Economist Intelligence Unit’s ranking from the world’s livability survey. This annual survey looks at 140 cities across the world to assess stability, health care, culture and environment, education and infrastructure.
And anyone looking for a condominium here will find a fabulous selection, outstanding features and remarkable building amenities, all at competitive prices. Nowhere in the U.S. will you find the flexibility to choose from so many features, finishes and upgrades. There, builders tend to offer one package and that’s what you get. Here, buyers have the opportunity to personalize their condo suites with selections from a wide range of finishes.
Barbara Lawlor is president of Baker Real Estate Incorporated and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com