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Comparing Prices in Toronto to Other Cities

innsertnamehere

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There are many large north american cities by population, but not by urban feel. the only cities with similar "urban feels" of size to Toronto are Montreal, Boston, NYC, Chicago, and San Fran. only Montreal is cheaper.
 

taal

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Disagree ... Chicago is quite a bit cheaper then Toronto ... I'll give you NYC ...

San Fran / Boston ... it really depends on the area ...
 

PC9728

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You forget the latter part, "and own your home". Lots of ppl only rent or mortgage.


I've watched shows on HGTV and there are condos in the states, very spacious and new for low 200's. But does it have the potential to appreciate in value? It all comes down to how desirable the city is to the ppl. Toronto is one of the most desirable cities to immigrate to in North America. Vancouver is nice too but its already saturated. Toronto is the next Vancouver. Most of the property price increase is driven by immigrants. They help increase population, jobs and income revenue. Toronto has been a good city to invest in these past few years. As you can see, house construction are moving farther north, condos moving farther south, and old houses in midtown are being bought out to build townhouses. And there are plenty of foreign investors who see value in Toronto property which will only keep prices up. Most Chinese pay in cash and have lots of it. That’s why builders are willing to sell to them.
 
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taal

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I'm not at all commenting about the desirability of Toronto ! Far from it ... I love Toronto ...

My point is simple, real estate in many large American cities is actually cheaper then Toronto ... anyway ...

Maybe the point can be viewed from a different perspective:

Toronto has so many more condos then the majority of American cities, this implies there is more relatively cheaper housing stock, now price per square foot its a lot higher here, but there are more opportunities .

I've seen various condo projects in large American cities, you'd be surprised how cheap they are ! Live downtown is getting popular everywhere but in many mid - large size cities its still far from the norm, so the market for it is smaller and so are the prices.
 

innsertnamehere

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SF rent prices in a comparable area to Toronto is roughly double. Boston is similar to Toronto, but it is also a bit smaller of a city. Chicago can absolutely be cheaper, if you are willing to live in cheaper neighborhoods that can have safety issues.
 

maestro

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Chicago condos have a much lower price per square foot than here.
 

Miscreant

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Where it's urban. And dense.
SF rent prices in a comparable area to Toronto is roughly double. Boston is similar to Toronto, but it is also a bit smaller of a city. Chicago can absolutely be cheaper, if you are willing to live in cheaper neighborhoods that can have safety issues.
I live in Boston, and still have a place in Toronto. Boston is considerably more expensive than Toronto; I'd say on average about 40% more. It's a fortune to live here, and I'm looking forward to moving back to Toronto because of that. Not to mention there's no rent control here, so you can expect your rent to go up about $100 a year, and you virtually can't get an apartment without paying a broker one month rent to 'find' you one, which really means they just hold on to them an act as middle-men between you and landlords and strong arm you into paying them.

It's a different world here for renters.
 

Fad225

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^ Miscreant - I too live in Boston - and I completely agree with you.. I would say almost everything (minus liquor) is about 40% more here.
 
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