Considering investing in new condos in Scarborough?
Good idea! The community is growing fast and promises to become one of the most vibrant, lively districts of Toronto. Scarborough is the place where you can combine urban living with the serenity of suburbs. The downtown of Toronto is within reach, so you will get to enjoy all the amenities while living in a calmer neighborhood away from the city noise.
When checking new pre-construction condos in Scarborough, one may start wondering:
Should I invest in Scarborough real estate?
The thing is, even though Scarborough is relatively small, it has caught the eye of many new developers. The real estate market is growing in the area, the new projects appear, the population grows, and the demand for housing increases as well. All of that makes it more than enough of a reason to invest in Scarborough real estate now.
Let’s take a closer look at the details. Currently, there are more than 4,000 condo units planned in the area (and more are predicted to appear). Scarborough is expected to grow and change its skyline, as more urban high-rise buildings are on their way. The proposed plan includes 36 residential towers, which are likely to attract new tenants and create more space for local businesses.
Aside from smaller local businesses, there are many large companies that decided to have their headquarters in Scarborough, including Toyota Canada. Amazon is planning to open a new fulfillment center in Scarborough as well.
With the current population of more than 630,000, Scarborough is expected to gain more residents within the next few years. Due to its proximity to Toronto downtown, many people choose Scarborough as a way to escape the busy metropolis without giving up on its amenities and conveniences. What does it mean for you, a potential investor? If you buy a new condo in Scarborough now, you will have plenty of potential tenants in the future (or potential buyers, if you decide to sell your unit).
Another reason to invest in Scarborough real estate is the community. Being rather prosperous in terms of economy, the area is also very family-friendly and community-oriented. It’s a safe region with lots of things to do. So, if you decide to move yourself, you will get to live in a warm community close to the downtown core.
And finally, we shouldn’t disregard Scarborough’s location. Being only a short drive away from the downtown part of Toronto, the community allows its residents to enjoy all the perks of big city life without actually being in the center of it. Instead, Scarborough is surrounded by beautiful nature and countless green spaces, allowing the locals to combine the serenity of suburban life with the comforts of the nearby metropolis.
Now, here’s what you need to know about Scarborough real estate market right away:
It is growing gradually, and that’s why condominium prices increase as well. Additionally, due to the small size of the area, the real estate market is a bit slower than in other sections of Toronto. This means you will get to choose from fewer listings. At the same time, you will have to deal with less competition, as Scarborough is not as popular as other districts of Toronto (yet).
Let’s take a look at the average condo prices in Scarborough:
Unit type
Average price
Studio
$350K
1 bedroom
$394K
2 bedrooms
$410K
3 bedrooms
$425K
As you can see, new condominiums in Scarborough are quite affordable when compared to other districts of Toronto. And thanks to such a close proximity to the downtown core, investing in Scarborough condos under construction is a winning move (as you get to save some money while still being able to enjoy the metropolis facilities).
Now, if you plan to invest in a new condominium to rent your unit out in the future, consider the average rent costs in Scarborough:
Unit type
Average rent cost (per month)
Studio
$1,480
1 bedroom
$1,760
2 bedrooms
$2,010
3 bedrooms
$2,350
On average, new listings remain on the market for around 20 days. Prices grow gradually, with around an 8% monthly change. As the Scarborough real estate market is smaller, you can expect less than 100 new listings every month. However, with so many new projects in planning, the numbers may change, so it’s better to keep an eye on Scarborough real estate market reports.
The List of New Pre-Construction Condos in Scarborough
About: Being one of the most elegant brand new condos for sale in Scarborough, the Terrasse offers thoughtfully designed units housed in a contemporary building (inspired by the boutique style). Located close to the beach, it will be a great place to combine urban living with the calmness of nature. The Terrasse will include multiple amenities for the residents and lots of retail areas as well.
Location: 1151 Markham Road, Scarborough, ON M1H 2Y5
Developer: Lash Group of Companies
Estimated completion: 2022
About: Even though the building had to slow down due to the pandemic, the Tricycle Condos project promises to be impressive. The high residential towers will change the skyline of Scarborough, offering the residents breathtaking views and top-notch amenities. The project is estimated to finish in 2022 and will feature suites of various sizes, including 1-, 2-, and 3-bedroom apartments.
Location: 1478 Kingston Rd, Scarborough, ON M1N 1R6
Developer: Nova Ridge Development Partners Inc.
Storeys: 11
Number of units: 198
Estimated completion: 2022
About: Located steps away from the best amenities of Scarborough and the main transit options, the Manderley Condos is going to be a modern, elegant building ideal for urban life. Close proximity to Lake Ontario makes this new condominium suited for both nature lovers and fans of modern life. You get to benefit from countless amenities while remaining close to the picturesque spots and green spaces.
Location: 168 Clonmore Dr, Scarborough, ON M1N 1Y1
Developer: Core Development Group
Storeys: 4
Number of units: 118
Estimated completion: 2021
About: Offering modern and comfortable living, the Clonmore Urban Towns is a bit more modest project in terms of the number of stories. However, there’s a lot hiding behind its cozy façade. The suites are going to be spacious, with luxurious finishes and top-notch appliances. Additionally, the residents of top floors will get to enjoy using private rooftop terraces.
Location: 2180 Lawrence Ave E, Scarborough, ON M1P 2P8
Developer: G Group Development
Estimated completion: 2023
About: There’s a lot the Borough is going to offer to its residents. Superb amenities for lounging, exercising, and socializing, plus kids’ zones will make you feel like home. The suites inside will have luxurious finishes and thoughtful details. Plus, the location of this new condominium is so convenient that you will have everything you might need (including entertainment options) within reach.
Location: 2035 Kennedy Rd, Scarborough, ON M1T 3G2
Developer: KINGDOM
Types of suites available: 1 bedroom, 2 bedrooms, 3 bedrooms
Storeys: 36 and 39
Estimated completion: 2022
About: Looking to live in a modern, stylish high-rise building? The KSquare would be ideal for that. With two towers in a prime location, this new condo under construction is meant to bring urban living closer to Scarborough residents. The building will include all the luxurious amenities and a wide spectrum of transit options.
Location: 1665 Kingston Rd, Scarborough, ON M1N 1S6
Developer: Core Development Group
Types of suites available: 1 bedroom + den, 2 bedrooms, 2 bedrooms + den, 3 bedrooms
Storeys: 4
Number of units: 52
Estimated completion: 2020
About: Located in a family-friendly community, the Birchcliff Urban Towns building is surrounded by parks, places of entertainment, schools, and chic stores. This elegant building offers various suite layouts, luxurious designs, and quality appliances. There will be enough parking space, necessary amenities, and multiple transit options, all for your comfortable living.
When checking brand new condos for sale in Scarborough, you might want to learn a bit more about the area.
Scarborough is an administrative division of Toronto that has a rich history. Former borough, it is often perceived as the suburbs of Toronto. However, Scarborough has a lot to offer as an independent community. It is growing and multicultural, with an efficient urbanization plan and tons of amenities to enjoy.
Bordering with Lake Ontario and the Rouge River, Scarborough can boast of picturesque views and impressive natural scenery. There are many parks, gardens, and green spaces for the residents who enjoy spending time in nature. You can find various hiking trails if you prefer to stay active. And, of course, enjoy the summer days near the lake, cooling down in the water.
Such proximity to nature and all its beauties makes Scarborough a great place to live. But it doesn’t end there.
The district is very family-friendly and safe. The crime rate is lower here than in the rest of Toronto. There’s a strong public school system in Scarborough and even the University of Toronto Scarborough (the satellite campus of the U of T).
The community of Scarborough is diverse and interesting. There are multiple nationalities living in the district, including Chinese, Indian, Filipino, Caribbean, and more. You can find different world cuisines in local restaurants and enjoy the colorful diversity of the area.
Scarborough holds its own film festival every year and also has theaters and several other arts organizations. This means you will always have something exciting to do in Scarborough.
And if you decide to explore a bit more, you can always travel to downtown Toronto. There’s a well-developed system of public transportation is Scarborough that includes buses, subway, and GO Transit. You can also access the main highways (such as 401 or 2A) and travel to Toronto downtown by car, which would take you around 40 minutes.
Condominiums Transit Options in Scarborough
Terrasse At The Hunt Club – Proximity to the Danforth Go Station. Easy access to the Victoria Park and the Warden TTC subway stations.
Tricycle Condos – Close proximity to highway 401. GO train station and TTC are minutes away. Proximity to the McCowan subway station.
The Manderley Condos – Walking distance to the TTC Transit. Minutes from the Victoria Park Station. Toronto Downtown is 20 minutes away (by car). Easy access to the Kingston Road.
Clonmore Urban Towns – Multiple bus stops are a walking distance away. Close proximity to the Victoria Park subway station and Danforth GO Station. Easy access to Kingston Road. Toronto downtown is around 25 minutes away (by car).
The Borough Condos – The Lawrence East station is 5 minutes away. The Kennedy GO Station is 4 minutes away. Easy access to highway 401 and the Don Valley Parkway. Multiple bus stations nearby. The Warden Subway Station and the Scarborough Line 3 LRT are easily accessible.
KSquare Condos – Close proximity to highway 401. The Agincourt GO Station is around 19 minutes away. Multiple TTC bus stations nearby.
Birchcliff Urban Towns – Close to Victoria Park TTC Subway Station. The GO station is 20 minutes away (by car).
F.A.Q.
How much is a condo in Scarborough?
The average condo price in Scarborough is $390K. Prices depend on the suite type (the number of bedrooms), location, design, nearby amenities, and so on.
Is Scarborough a good place to invest?
Yes. Scarborough condominiums are reasonably priced and located not far from downtown Toronto.
How safe is Scarborough?
Scarborough is a very safe place to live. The crime rate is generally lower than the rest of Toronto.
Why does Scarborough have a bad reputation?
Probably because Scarborough is often considered simply a suburban area of Toronto, and not everyone enjoys living in the suburbs. However, Scarborough has a lot to offer despite being an administrative district of a larger city.
Is Scarborough considered Toronto?
Scarborough is considered a borough, or an administrative district of Toronto. In 1998, it was amalgamated into the city of Toronto with the rest of the Metropolitan area.
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