Real Estate in Toronto, Canada

Real Estate in Toronto

Last updated on Feb 06, 2023

Summary: The average cost of a nice 2 bedroom home in Toronto, Canada is around $700,000 CAD. A nice 3 bedroom home in Toronto is around $1,000,000 CAD. These properties typically include modern amenities such as stainless steel appliances, hardwood floors, and updated bathrooms. Some may also include a balcony or outdoor space. Foreign ownership of properties in Toronto is allowed, however, there are restrictions in place. For example, foreign buyers must pay a 15% Non-Resident Speculation Tax (NRST) on the purchase of residential property in the Greater Golden Horseshoe region. An expat looking to buy a home in Toronto should start by researching the different neighborhoods and researching the local real estate market. They should also consider their budget and lifestyle needs when searching for a home. The most desirable neighborhoods in Toronto include Downtown Toronto, The Annex, Yorkville, and The Beaches. These neighborhoods offer a variety of amenities, including restaurants, shops, and entertainment. They are also close to public transportation and have easy access to the city's attractions.

How do I find a place to live in Toronto?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"When looking for a place to live in Toronto, it is important to consider your budget, desired location, and the type of housing you are looking for. Start by researching different neighbourhoods in Toronto to find one that fits your needs. You can also use online resources such as Craigslist, Kijiji, and PadMapper to search for rental listings. Additionally, you can contact a real estate agent to help you find a place to live. Once you have narrowed down your search, you can visit the properties in person to get a better feel for the area and decide if it is the right fit for you," said one expat in Toronto.

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About the Author

Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.