While so many North American cities continue to suffer from job losses and declining populations, Toronto continues to thrive. With a population estimated to be in excess of 2.8 million and a total metropolitan area population in the neighbourhood of 6 million, Toronto remains the most populous city in Canada with a robust economy and thriving real estate market. The western cities of Calgary and Edmonton may have had faster growing populations during the energy industry’s boom years, but they still have a long way to go before they catch up with Toronto.
Owing to its diverse population and status as a global centre for commerce, arts and culture, Toronto is consistently ranked as one of the world’s top cities. After years of high rankings in The Economist’s list of the world’s “most livable” cities, in 2015 the editors finally declared Toronto to be the world’s “best overall city to live in.” That news comes as no surprise to those of us who call Toronto home.
The reasons why residents and visitors alike love Toronto are as varied and diverse as our great city itself. Our beautiful city on Lake Ontario is clean, safe and can boast of one of the largest multicultural populations in the world. According to recent Census figures, roughly 50% of Toronto’s residents are immigrants. During the past decade, in the midst of a volatile world economy, extreme instability in parts of the world and a careening energy industry, Toronto’s boomtown economy remained strong and resistant to downturns due to its strong footing in a dozen different employment sectors.
In 2015, despite predictions for doom and gloom by some, the Toronto real estate market enjoyed another record-breaking year. Following a trend seen in other thriving cities, there is a growing movement back toward downtown centres. People of all ages are rejecting the suburban lifestyle in droves with a genuine yearn to live within walking distant of urban amenities. Toronto, with its myriad of fine restaurants, cafes, book stores, theatres and arenas has everything that today’s homebuyers and renters are looking for – all within a short drive to the beach, waterfalls and bucolic wine country. Of course, it tends to get a little cold in winter, but the weather rarely stops anyone from going outside.
There is a neighbourhood to fit everyone in Toronto and sometimes it seems like there is a new festival every weekend. You will never be bored in Toronto whether you are living and working here or just visiting. Toronto may be home to a healthy economy and active real estate industry that beckon people to move here, but the City’s greatest asset is still its people – among the most polite, friendliest, well-educated population you will find anywhere in the world.