Toronto Listed Among the Top 10 Cities for the Ultra Rich to Buy Homes

Toronto Listed Among the Top 10 Cities for the Ultra Rich to Buy Homes

Toronto has broken into the Top 10 on the “Alpha Cities Index,” a global ranking system that gauges the interest, attractiveness, and growth of real estate markets across the world. Focusing on locations that have caught the attention of the hyper-wealthy and ultra-rich people that own multiple properties, it is an exciting prediction for the development of Toronto as a global city.

American cities such as New York, Chicago, and San Francisco rank ahead of Canada’s largest metropolis on the “Alpha Cities Index,” and Washington, DC is tied at ninth place. All of these North American hotspots have been identified as leading markets for luxury real estate investments. It is not surprising to see why; great food, active arts and culture scenes, and consistently performing housing markets are appreciated by locals and newcomers. Toronto stands out as the only Canadian city in the Top 10, joined on the list by west coast Vancouver that ranks at number 30.

Factors that Make Toronto a Destination for Luxury Real Estate

International investors are said to use a combination of factors to determine the best place to buy. When searching for a new property, these financial elite look for practical, financial, and emotional considerations before making their purchase. Judgement is based on accessibility by plane, education, safety, cultural experience, ease of doing business, connectivity, taxes, and environmental consciousness, among others.

Toronto ranks well across categories. Here are just a few of the features that make the city so attractive for dwellers:

  • Neighbourhoods: Toronto offers a lot of diversity in terms of its population makeup and different enclaves and nodes within the city. Hip, up-and-coming areas, culturally distinct blocks, and elite developments allow international investors to choose the area that suits their lifestyle, heritage, tastes, and needs.
  • Safety: Toronto offers safety and security for the wealthy and for young families. Investors can feel at ease bringing their children to school or playing in Robertson Davies Park. Relatively low crime rates and a welcoming, calm atmosphere are the norm throughout the majority of the city.
  • Food: It is impossible to pin down a single palate, influence, or trend that dominates the Toronto food landscape, which is often considered the basis of its appeal. A strong multicultural population has resulted in a foodie scene that has a lot of depth, variety, and range. Each neighbourhood has exciting dinner hotspots, enticing fast food options, and a growing café culture. Local establishments and international favourites combine, allowing residents to enjoy whatever their heart desires, from Thai to Indigenous flavours and everything in between.
  • Luxury Real Estate: The booming housing market has led to a large number of new luxury condo projects in downtown Toronto. Options throughout the city combine gorgeous units, stunning views, and accessibility that provides convenience for buyers that does not require sacrificing comfort or elegance.

Toronto night skyline with luxury yachts of the Ultra Rich in front of their Luxury Condos

If you are interested in finding out more about luxury real estate in Toronto, contact The Davies. Our new condo project provides access to the beautiful Robertson Davies Park and is located a short distance from TTC connections and the trendy Yorkville neighbourhood.

Contact The Davies at 647-360-9588 to schedule your appointment or register online for more information. Learn more about our luxury condos in downtown Toronto and speak with our team for more options to find your dream property.

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