Why Invest in East Bayfront Real Estate?

East Bayfront is one of Toronto’s most attractive neighbourhoods. This emerging Toronto neighbourhood is bounded to the north by the Gardiner Expressway, to the east by Parliament Street, to the south by Lake Ontario, and to the west by Jarvis Street. East Bayfront is a multi-utility neighbourhood with public spaces, stores, offices, and an increasing number of new condo developments.There are several developments planned in the neighbourhood. ‘Sidewalk Labs,’ a Google-affiliated organization, recently picked East Bayfront as its ‘technology-based neighbourhood.’ This new technological innovation in the neighbourhood will include modular housing, robotic waste-removal trucks, self-driving taxis,and weather mitigation features. Given these considerations, East Bayfront is an excellent location for real estate investment.

List of New Condos in East Bayfront Neighbourhood

hy Buy New Condo Developments in East Bayfront?

Coming home to the condos here and stepping up to the amazing views of the lake is one of the most appealing attractions. There are several new condo developments in the works in the neighbourhood, including an extra 6000 residential units, 1200 of which will be affordable. Some of these projects contain commercial spaces that will attract a number of corporate investors. Consequently, East Bayfront will eventually transform to a commercial hotspot, generating roughly 8000 employment opportunities to the neighborhood. East Bayfront will be a popular choice for professionals. Another significant aspect is that just 32% of the population owns a home, with the other 68 percent renting. This guarantees you a consistent revenue from rent.

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East Bayfront Neighbourhood

East Bayfront is close to Downtown, which is just across the Expressway, making getting to work a breeze. It’s also close to some of the city’s top restaurants, pubs, and nightclubs, being only steps from the Distillery District and a quick taxi ride from the Fashion and Entertainment Districts. It is also a wonderful waterfront location. Residents may take a leisurely stroll or enjoy some peaceful time along the Waterfront Promenade and Boardwalk. One of the most important facets of this neighbourhood is retail. East Bayfront’s plans have prioritized retail from the start. Every building in the new area must contain double-height (18ft.) retail space on the ground floor, making the entire neighbourhood accessible and pedestrian friendly. The slip is intended to optimize park front and riverfront retail areas, which we anticipate will be lined with restaurants, bars, cafés, shops, and neighbourhood amenities such as grocery stores. The Distillery District and the St Lawrence Market are just steps away offering various shopping, eating, and entertainment choices.

Average Price for Condos

In 2019, pre-construction condos in Toronto sold at an average price of $485,650. New listings for this year have been maintained at a price per square foot of approximately $883. Prices are continuing to grow every year at a rate of 10.2 percent annually. Rent in Toronto is around $2700 on average currently. This is also keeping in mind a rate of 3.5 percent as rental appreciation which has stayed relatively the same over the last 10 years. The vacancy rate sits at 0.7 percent at the moment which shows the demand for condos is strong here. On the other hand, the average resale price for condos in the city of Toronto is at $883,782 with the average rate of resale appreciation hovering around 5.4 percent for the last 10 years.

East Bayfront Transit & Accessibility

There are many forms of public transit options here. The TTC buses go along Sherbourne and Parliament, connecting you to Line 2 of the subway network. There are also newly expanded Queen Quay streetcar lines.There are also recently expanded Queen Quay streetcar lines that take you straight to Union Station, from where you can connect to most areas of the GTA. Residents who prefer to drive may use the Gardiner Expressway and Don Valley, both of which are conveniently accessible and close to the neighbourhood. Drivers can use these routes to quickly connect to Downtown Toronto and other areas of the Greater Toronto Area.

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