High-Rise Living a Big Part of Toronto’s Luxury Condos Market

In days gone by, the idea of luxury condos and living in a high-rise building was not the most sought-after real estate. Previous generations placed a premium on land and property, focusing on the scale of their land rather than prioritizing other aspects of their living space and lifestyle.

Times have changed significantly, though, and in recent years more and more professionals and older generations looking to downsize are beginning to understand the value, appeal, and convenience of condominiums. As Toronto’s housing market continues to soar and a seemingly endless number of high-rise apartment condos in the downtown core are erected, it is the perfect time to take advantage of the benefits afforded by condo living. The draw and sleek city feeling of skyscrapers is tempered by the warmth and welcoming spaces that make new luxury condos like The Davies a true home.

Plenty of luxury condos for sale in the Greater Toronto Area have helped fuel the shift in attitudes, but a broader change in perspectives has also contributed to the city’s growing demand for high-rise condominiums. People are now privileging convenience, lifestyle, adventure, and fun rather than tirelessly pursuing stability and setting long-term ‘forever’ plans for their financial and personal choices. While baby boomers flocked to the suburbs to establish the security that their wartime parents lacked, millennials are making a return to the city. This generation is accustomed to eating out, traveling, and re-imagining their ideal work-life balance as they define their own goals.

Condos are now attractive to both generations. They provide the stability of a sound investment in Toronto’s hot housing market as well as the flexibility that many younger professionals seek. Rental options, stable re-sale value, and freedom from mundane tasks like ongoing and seasonal maintenance make them a low-effort, high-reward purchase for many. New subway plans to Vaughan and transit improvement plans throughout the Greater Toronto Area have also made high-rise living a more appealing option outside the city.

Luxury condos for sale are priced at an average of almost $500,000 according to recent reports focused on the Greater Toronto Area. Demand is driving prices higher, but these high-rise developments still present a much more affordable option than detached homes and townhouses in the same areas, which are often double the cost.

The convenience of these properties is further strengthened by the location and accessibility of high-rise buildings downtown. People living in the core save time and money on draining commutes. Downtown high-rises are within walking distance to nightlife, restaurants, shopping, and transit. In addition, a range of amenities within the building offer those who choose to live in high-rise apartment buildings an easy method to achieve “all-in-one” access to the health, entertainment, and professional lifestyle they want.

High-Rise Luxury Condo Developments in Downtown Toronto Provide Flexibility and Convenience

Interested in finding your home in the city? Consider the benefits of a high-rise condominium and how you can create your own oasis in the city in a luxury condo development like The Davies. Our new condos for sale combine the charm and community of low-rise buildings with the lifestyle, value, and affordability of high-rise condos. Many units feature views of Robertson Davies Park, a sprawling green space that allows residents to take advantage of nature without sacrificing the nightlife, shopping, and food scene that you can only find downtown. A short distance to Yorkville’s trendy shops and cafes, and easy access to TTC connections create an ideal place to put down roots or downsize.

High-Rise Buildings are a Big Part of Toronto's Luxury Condos Market

Find out more about how first-time home buyers can get a Toronto condo at The Davies. Call 647-360-9588 to book an appointment or register online for more information. Explore our new luxury condos in downtown Toronto and consult with our team to determine your best options.

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