2025 is expected to be a seller’s market, so this is a prime time to renovate or build and then sell your luxury home in Toronto in order to gain a higher return on investment. Yet, building your own custom home is a big undertaking and understanding the most expensive neighbourhoods in Toronto, can help you better prepare yourself. To give you a leg up, both the luxury real estate market and wealthy neighbourhoods will be explained throughout this blog.
The Luxury Real Estate Market in Toronto
When considering the real estate market for luxury homes in Toronto, it is important to note that due to the prices of standard detached homes in the city averaging $1 million, luxury status is only achieved when a house is worth over $3 million. However, luxury real estate does not just mean an expensive price tag, it also factors in where exactly the house is located, the quality of the architecture, and what amenities are available, both within the house, like smart home technology, and in the surrounding areas, like restaurants and shopping centres.
With the population of the greater Toronto area growing at its current rapid state, the luxury real estate market is also rapidly growing, attracting investors and buyers from all around the world. Toronto is truly a hub for high end real estate investments. Investment opportunities are vast in the city, which is helpful if you are looking to diversify your real estate portfolio. As well, Toronto luxury homes have shown a steady appreciation of value over the years, allowing for an increased return on investment when it becomes time to sell. They also provide great potential for rentals, in this way turning into an even more lucrative investment for owners.
So, whether you are looking to sell or buy an existing property or want to build your own custom home, Toronto is the best place to do so. It is a prime location that has a wide variety of affluent neighbourhoods to choose from when determining where to buy, sell, or build. Each neighbourhood boasts something different to offer in the vein of comfort, convenience, and exclusivity, and is able to suit any kind of lifestyle.
Best Luxury Neighbourhoods to Build Custom Homes
When building a luxury custom home, the area you decide to live in is just as important as the house itself. The following are the most expensive neighbourhoods in Toronto and ideal places in which to build your new home:
Forest Hill — A centralized location with easy access to the downtown core, Forest Hill is best known for its rich history and classic luxury. It boasts beautiful houses, both old and new, gorgeous green spaces like Cedarvale Park and Eglinton Park, and prestigious schools such as Upper Canada College and Bishop Strachan.
Lawrence Park — A tight-knit community, Lawrence Park is known for its diverse architecture. From Colonial-style to Tudor Revival to modern mansions and more, this neighbourhood is brimming with all kinds of gorgeous houses where any look and style is welcomed. Perfect for families, Lawrence
The Annex — Close to the amenities of Bloor Street, the Annex is a neighbourhood that is able to cater to a host of interests with its vibrant and cultural urban luxury. While it’s situated in the bustling west end, the residential areas have quiet enclaves that include beautiful Victorian and Edwardian homes.
The Bridle Path — Known as part of “Millionaire’s Mile,” Toronto luxury homes in the Bridle Path are multi-acre estates, characterized by the seclusion the area provides and the beauty of the surrounding Don River Valley. Home to quite a few noteworthy individuals, this is an exclusive neighbourhood where privacy and security are favoured.
York Mills — Also a part of “Millionaire’s Mile,” with picturesque tree-lined streets, the greenery of York Mills is one of its most distinguishing features. This affluent neighbourhood possesses the York Mills Centre, a commercial complex great for shopping and dining, as well as the Don Valley Golf Course, which opened in 1956.
Sunnybrook — The third part of “Millionaire’s Mile,” Sunnybrook is a place foremost suited for families, where over time residents have established generational roots. Valued for its countryside feel, it is still rather close to downtown Toronto and all the amenities found there, allowing you to have the best of both worlds.
Yorkville — As one of the richest neighbourhoods in Toronto that includes both grand Victorian houses and luxury condos, Yorkville is well-known for its gourmet dining spots and high-end boutiques. With an artistic history seen in its theatres, galleries, and art museums, Yorkville is also a premier cultural centre in the city.
Rosedale — One of Toronto’s oldest neighbourhoods, Rosedale is best characterized by the winding roads and charming ravines found throughout. With high-end dining and shopping available within walking distance and noise and traffic being low to none, it’s no wonder that Rosedale has become the fashionable and rich neighbourhood it is today.
Start Building Your Custom Luxury Home in Toronto Today
A custom home is a great investment opportunity to consider. We hope this blog has given you a better outlook on the luxury real estate market and provided you with a stronger feel for the rich neighbourhoods in Toronto.
At Aria Build, we always prioritize you and your needs, creating a one-of-a-kind house for you and helping you get the most out of your build. If you’re ready to start building a luxury custom home or have any questions about the process, don’t hesitate to reach out. Contact us today!