Young professionals working in the heart of Toronto face many challenges, whether they are commuting from out of city or live within. Young commuters have been exhausted by excessive traffic congestion, never-ending construction, and harsh winter road conditions that have overwhelmed commuters much more than ever before. Combine that with Toronto housing prices stretching beyond the average millennials budget, consequently buying or renting a condo near to their place of work appears to be one of the most viable options.
Millennials prefer to live in areas with a unique charm and affordability. Places that highlight trendy restaurants, nightlife, but still within a close radius of their work. New condo developments in all different neighbourhoods in Toronto provide many opportunities for the young professional. Here are three of the best neighbourhoods that have been catching the eyes of well-paid millennials.
Leslieville is a community located east of Toronto’s downtown core, relatively close to the Beaches. Steeped in history, this enclave was once host to tanning factories and metal processing plants. However, this up and coming area has been cleaned up and reclaimed over the years. With many unique cafes, vintage furniture stores, chic fashion and design shops, Leslieville has become a hot spot for millennials looking to buy or rent condos.
Another neighbourhood capturing the attention of millennials is Liberty Village. Although a short public transit ride away from the downtown core, many millennials are flocking to the new Liberty Village condo developments. The charm of old factories repurposed as restaurants, coffee shops, gyms, and grocery stores, have attracted young professionals who enjoy the quaint community feel and futuristically-styled condos that Liberty Village has to offer.
Finally, Queen West is among one of the most desirable neighbourhoods for millennials. It’s home to a thriving mix of restaurants, cafes, and clothing stores. The area is action packed with trendy streets, a lively nightlife, and stylish architecture. Between the numerous coffee shops and fashionable locals, Queen West is harnessing the attention of community-driven young adults.
Ultimately, Toronto is attracting a high ratio of young adults, driving high demand for the Toronto condo market. Although they have been dealt a tough hand with large student loans, high home prices and stagnant wages, they will eventually be the next generation that pushes our economy and housing market forward.