If you are looking to invest in new condos in North York, there’s a lot for you to discover. The city is growing and changing gradually, and so does its real estate market. Trends change, but one thing remains: North York is a great place to live and to invest in. The community, the nature around it, and the location make the area a great choice for families, business people, entrepreneurs, young professionals, and everyone who wants to live in a lovely community close to downtown Toronto.
Should You Invest in New Condos in North York, Toronto?
While there are many pre-construction condos in North York, some potential investors disregard the area. And that’s a big mistake. There are many things that make North York appealing to potential residents, business people, and investors alike, so let’s take a look at them to help you answer the question “Should I invest in new condos in North York?”
Now, one of the main reasons to invest in North York real estate is the fast and steady population growth. The GTA (which North York belongs to) is one of the most populated and fastest-expanding areas in Ontario. And it is expected to keep growing in the future.
With the population constantly increasing, the demand for housing grows too. As a potential investor, you may consider this as a beneficial factor. If you decide to buy a pre-construction condo in North York now, you will certainly have plenty of potential renters in the future. Additionally, if you ever have to sell your suite, you will be likely to do it fast and for a good price, as more and more people move to North York and look for apartments to purchase.
The current population of North York is over 800,000. There are countless local businesses, and the unemployment rate is very low. All of that creates great conditions for the booming economy, which makes the area quite stable and suitable for investments.
Another reason to consider buying a new condominium in North York is, of course, the location. Its proximity to Toronto’s downtown makes North York a great place to live, especially for those who want to benefit from all the amenities the metropolis has to offer while living in a calmer atmosphere. Many people choose North York because they want to escape the constant buzz of the big city but need to stay close to it. If you are one of them, you are definitely going to enjoy North York. Or, if you decide to lease your unit out, you will have more than enough potential renters. One way or another, North York will offer you plenty of opportunities in terms of both living and investing.
When checking brand new condos for sale in North York, you may want to consider the real estate market trends to get an idea of what you are dealing with. After all, the North York condo market is smaller (and slower) than, let’s say, Toronto’s real estate, but it shouldn’t be underestimated (as prices tend to change regularly).
Now, the average condo price in North York is $618K (this in the average among different unit types, including both smaller and larger apartments). Currently, there are 150 new developments under construction in North York. They include over 90 condo projects, plus townhouses and detached homes.
Over the last 3 years, condominium prices have grown by around 25%. In August, new listings spent around 24 days on the market on average. The real estate market starts slowing down when moving towards fall, that’s why it’s a good time to invest – you will face less competition. In spring, new condominiums spend around 14-16 days on the market on average, as that’s the busiest period on the real estate market.
If you plan to invest in condos under construction to lease your unit out in the future, consider the average rent costs in North York:
Unit type
Average rent cost (per month)
Studio
$1,620
1 bedroom
$1,740
2 bedrooms
$2,100
3 bedrooms
$2,300
As you can see, the North York real estate market is booming. The demand is growing, and so does the number of new developments. Pretty soon, North York will change its skyline as the area is gradually transforming into a more advanced urban city.
The List of New Pre-Construction Condos in North York, Toronto
Types of suites available: studio, 1 bedroom, 1 bedroom + den, 2 bedrooms, 3 bedrooms
Estimated completion: 2022
About: Being one of the highest residential towers planned in the community, the M2M project will surely become the embodiment of modern living. Spacious suites, contemporary decorations, ton-notch appliances, and countless amenities will create an ideal environment for a good life. Plus, you will get to enjoy some extra facilities thanks to this building’s favorable location.
About: Once this pre-construction condo project is completed, it will be hard not to notice. With its stunning minimalist design, the Nordic Condos will change the image of North York. The units inside will have double-glazed windows, spacious balconies, and terraces, allowing the residents to enjoy the light and stay connected to the outside. Another cool thing about the Nordic Condos is the geothermal temperature control system, which will result in a smaller carbon footprint.
Location: 1001 Sheppard Ave E, North York, ON M2K 1C
Developer: Concord Adex
Types of suites available: 1 bedroom, 1 bedroom + den, 2 bedrooms, 2 bedrooms + den, 3 bedrooms
Estimated completion: 2022
About: Located in an amenity-rich neighborhood, these three towers will combine urban living, modern technologies, and a lively atmosphere. The suites inside are thoughtfully planned and feature luxurious finishes. The building will have plenty of modern amenities, including charging stations for electric vehicles and secured parking spaces.
Location: 19 Hollywood Ave, North York, ON M2N 5N6
Developer: The Conservatory Group
Storeys: 34
Number of units: 431
Estimated completion: 2022
About: This contemporary building will have everything you may need for a comfortable life (and a bit extra as well). The amenities will include a swimming pool, a movie theater, a games area, exercise rooms, dining areas, and more. There will be plenty of retail space on the ground floor, so you won’t even have to leave the building to enjoy the modern amenities.
About: With a lot of glass details and a stylish gray-scale color scheme, the Azura will definitely stand out from the rest of the new condominiums in the area. This contemporary building will offer suites of different sizes and interiors, all featuring top-notch appliances, chic finishes, and quality materials. The residents will enjoy the open-space layouts and lots of light in every unit.
Location: 188 Fairview Mall Drive, North York ON M2J 5A7
Developer: FRAM Building Group
Storeys: 24
Estimated completion: 2021
About: Another condo under construction in North York that certainly deserves your attention is the Verde project. Located in a vibrant, lively neighborhood, this building offers a variety of suites and amenities. It will include lots of outdoor spaces for the residents, a rooftop terrace, a party room, fitness stations, an underground parking space, and more.
Types of suites available: 2 bedrooms, 2 bedrooms + den, 3 bedrooms
Storeys: 4
Number of units: 42
Estimated completion: fall 2020
About: If you are tired of high-rise buildings, the Nova Urban Towns might be the right choice for you. Located in a warm neighborhood and surrounded mostly by mid-rise buildings, the condo will allow you to enjoy quiet suburban life while having all the necessary amenities within reach. This project includes spacious suites with balconies and terraces, plus lots of green spaces around the neighborhood.
Location: 175 Wynford Drive, North York ON M3C 1J3
Developer: Allied Hotel Properties Inc.
Storeys: 39
Number of units: 755
Estimated completion: 2023
About: Even though the building is still under construction, it’s already attracting a lot of attention (and there are many reasons for that). It is located close to the Charles Sauriol Conservation Area and gives the residents access to endless green spaces, trails, and parks. Being close to nature, the residents will enjoy living in their stylish suites that would include laminate flooring, stone countertops, high-quality appliances, and more.
While there are many brand new condos for sale in North York, the city has a lot more to offer aside from good investment opportunities. It has a charming community, lots of green spaces, plenty of entertainment spots, and a good variety of transit options.
North York has a rather urban feel but preserves the loveliness of the suburbs with its wide boulevards and narrow residential streets. Additionally, North York is very safe, which makes it one of the most family-friendly districts in the Greater Toronto Area.
There are a lot of parks and hiking trails in the city, so if you enjoy spending time in nature, North York would be an excellent place for you to call home.
If you are a fan of shopping, there’s much to explore in North York, and you don’t even have to travel to Toronto downtown. The Fairview Mall and the Yorkdale Shopping center are two of the largest shopping areas in Toronto.
Now, another cool thing about North York is the diversity of its community. The residents belong to different ethnic groups, which makes the local culture versatile and exciting. The population keeps increasing, and so does the number of local businesses and amenities.
Taking everything into account, it’s safe to say that North York is worth more than just considering it as an option. It’s a great place to live in and to invest. And there’s certainly more to come in the near future.
Condominiums Transit Options in North York, Toronto
M2M Condos – The Finch Subway Station is around 8 minutes away (by foot). Easy access to highways 404 and 401.
Nordic Condos – 5 minutes away from the Wilson Station (by foot). Proximity to the Allen Expressway and highway 401. More transit expansions are planned in the near future.
Kings Landing Condos – Close proximity to highway 401 and the Don Valley Parkway. Bessarion Subway Station and GO train stations are minutes away from the building.
Pearl Place Condos – Walking distance to the Sheppard/Yonge Station. Easy access to highway 401.
Azura Condos – 5 minutes away from the Finch Station (by foot). Easy access to TTC buses, the VIVA bus system, the subway, and some GO transit routes.
Verdé Condos – Walking distance to the Don Mills Station. Close proximity to highways 401 and 404, plus the Don Valley Parkway.
Nova Urban Towns – The Finch Station is 7 minutes away (by foot). Easy access to the Ontario 401 Expressway.
Wynford Gardens Condos – 2 Minutes to the Don Valley Parkway. Easy access to highway 401 and the Gardiner Expressway. Steps away from the nearest TTC Bus Stops.
F.A.Q.
How much is a condo in North York?
The average condo price in North York is $618K. Keep in mind that new condominium prices usually depend on the number of bedrooms, location, style and finishing, amenities, the developer, etc.
Is North York safe?
Generally, yes. North York is one of the safest areas of Toronto.
Is North York a good place to live?
Yes, if you want to live in a calmer, family-oriented neighborhood with close proximity to the downtown area of Toronto.
What area is considered North York?
North York is located between Etobicoke to the west and Scarborough to the east. It is nested directly north of York, Old Toronto, and East York.
Is North York considered GTA?
Yes, the Greater Toronto Area includes North York. In total, the region covers 25 urban, suburban, and rural municipalities.
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