The Demand for Entertainment District Condos
It is well known that GTA is one of the hottest real estate markets in all of Canada. The GTA includes a huge number of different cities and areas – what areas are in the highest demand and fueling this hot market? The Entertainment District is one particularly high-demand area that is very popular; encompassing a large portion of downtown Toronto. Most people define the Entertainment District as the area between the Financial District, Queen Street West, the Harbourfront and Spadina Avenue.
What is the allure of the Entertainment District and why are Entertainment District condos in such high demand? This particular area of Toronto is home to literally every kind of entertainment you can think of. This includes professional sports leagues (NBA, NHL, MLB, etc.), concerts, cultural destinations, family fun (such as Ripley’s Aquarium), live performance art and the Toronto International Film Festival (TIFF), and many of the hottest clubs in Toronto. With so many exciting and interesting things happening all of the time, the atmosphere is absolutely vibrant and alive - it is understandable why this area carries so much appeal for young people, professionals, established business people, as well as families looking to take advantage of the best Toronto has to offer.
Should You Buy a Condo in the Entertainment District?
Entertainment District condos are an excellent choice whether you are looking for a living space for yourself, or if you are looking for an investment property. New build condo units in this area offer excellent investment opportunities as the area is always in high demand. In addition, new build condo units typically have the modern look and feel as well as the premium amenities that further heighten appeal for the people looking to live in the Entertainment District. The rate of appreciation for homes in the Entertainment District is consistently attractive and promises to bring about a healthy return on investment in the event that you sell the unit at some point down the road. Condos in this area offer the opportunity to own property in this area of the city while also typically being more affordable than many other types of housing in the area.
In terms of purchasing a condo unit in this area as an investment property, you can expect to have an extremely low vacancy rate with minimal tenant acquisition costs. These are important aspects that help to maximize profits from the investment in both the short and long term.
How Can a Real Estate Agent Help?
Sushma Khinvasara is an award-winning real estate agent with the expertise necessary to help buyers and sellers of all levels successfully navigate the fast-paced market in the GTA. She has consistently been recognized as a top performer for her brokerage, as well as Century 21 Canada, with a wealth of expertise in the following areas:
- First time home buyers
- New residential properties
- Property leasing
- Investment properties
Contact Sushma Khinvasara today to discuss all of the benefits of purchasing an Entertainment District condo as a living space or as an investment property. Discover everything this exciting area has to offer and find the unit that is perfect for your specific needs.