Yorkville Toronto is the most expensive and exclusive neighborhood in Toronto, with an average household income of $292,697, significantly higher than the Toronto household average of $87,775. The street is home to the upscale Four Seasons Hotel, a variety of coffee shops, Chinese boutique restaurants, and restaurants from around the world.
Yorkville Toronto was a cool place where college students and indie musicians used to hang out in clubs and coffee shops 20 years ago. Then Yorkville Toronto shifted to become a center of luxury excellence, becoming a hub for luxury hotels and luxury retail stores, Victorian homes, and the Toronto International Film Festival. Then a number of shiny new luxury condominium towers and hotels went up, such as the Four Seasons and the new Park Hyatt.
As demand for Yorkville Toronto condominiums also increases, the City of Toronto and the development industry are planning smaller, more affordable condominiums. Because buyers are getting younger these days, most are not willing to spend $2 million to $3 million on a condo, even if they can afford it. Young people now prefer to live in the city, even if the space at home is smaller. You can buy a condo in the city without worrying about maintenance than a big house in the suburbs.
In addition to small condos, there are many affluent international buyers who are interested in Yorkville Toronto real estate. They prefer boutique, custom low-rise condominiums that are priced from $8 million.
So, no matter what your needs are in the next decade, Yorkville Toronto is one of the best communities to watch. After the recovery from the epidemic, the Yorkville Toronto area has a very high potential for growth.
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