Condo Pro: Toronto The Great

By Barbara Lawlor

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.

Of course, it makes sense on many levels. Just this fall, Forbes magazine declared Canada the number-one place in the world to do business, high praise indeed. In addition, an Australian-based company listed Toronto in the top 10 innovative cities in the world. In fact, Toronto was listed as a “nexus” city – one of 33 urban areas at the centre of the global economy. 

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!

This has certainly been a milestone year in a number of ways. Toronto has received a great deal of other impressive recognition. For example, in the 2011 Corporate Knights Sustainable Cities survey, Toronto was named Canada’s most sustainable city, and we were ranked 9th overall in the USA and Canada Green City Index. Toronto was also named the second-greenest city in leading the fight against climate change on the World Wildlife Fund Canada’s Earth Hour List, compiled in partnership with Corporate Knights.

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.

No wonder we’re a hotspot for real estate ownership and immigration. Toronto is one of the most cosmopolitan cities in the world, and has the interesting combination of being both exciting and safe compared to many other major urban centres its size. Those who live downtown can walk or take public transit to an amazing assortment of amenities. Toronto is home to prestigious art galleries, exciting entertainment venues, renowned museums, popular sports arenas, wonderful schools and incredible shopping.

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.

It’s easy to understand why Toronto has ranked high in surveys about the best places to buy real estate, and the best places to live across the globe. When it comes to urban living, our beautiful city truly is Toronto the Great!

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