Why Buy a New Condo in North York?

Formerly a city, North York has become one of the most sought-after areas when it comes to buying new condos. Over 800 condominiums are for sale in North York, and this number is bound to increase with more buyers looking to for a condo in North York.

One of the main reasons of North York being a popular choice amongst buyers is its economy. It’s one of the fastest growing parts of the region, thanks to its proximity to Old Toronto. The epicentre of Toronto’s primary corporate areas, North York has been the secondary economic hub after Downtown Toronto.

Home to around 28% of Toronto’s population, North York possesses some of the most elegant and well-built condos in North York. North York condos come with everything that you could ask for. They’re packed with world-class amenities that take your lifestyle to another level. Another added advantage of buying a condo in North York is its closeness to the transit options.

Considering it all, you surely won’t regret buying a new condo in North York.

Why Should You Invest in North York?

As you probably know, North York is one of the most affluential areas in Toronto. And as it’s the case most of the times, the economic strength of a region is reflected in numbers and North York is no different. It has a very high employment rate, and many new projects that are in the pipeline are set to create more jobs. Some of these projects such as Centennial College, the Granite Club and Downsview Park Sports Centre have witnessed massive investments from the public as well as the private sector, and these projects will give a boost to the economy that is already thriving.

Considering it all from the investment point of view, there is hardly any region that appeals more than North York.

Average Price of Condos in North York

The average index selling price of pre-development condo keeps on increasing. It ascended from 16% to 19% over the previous year and is currently $620 per square foot. The average selling price rose to $489,000 over the last year.

As far as the resale apartments are concerned, the average selling price of a North York condo in 2017 was around $531,877, rising 28.20 percent compared to 2016.

Getting Around in North York

When it comes to commuting, North York surely doesn’t disappoint. You have many options for getting in and around North York. These options include highway corridors, subway system, roads and public buses.

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