Toronto’s real estate market is a dynamic and diverse landscape that reflects the city’s cosmopolitan vibe and booming economy. As Canada’s largest city and a global financial hub, Toronto offers a variety of real estate opportunities, from sleek urban condos to sprawling suburban estates. Well known for its multiculturalism, vibrant neighborhoods, and thriving business scene, Toronto attracts a diverse array of homebuyers and investors. Real Estate in Toronto continues to draw interest from Costa Rica-based investors and clients from around the world.

Daily direct flights between Costa Rica and Toronto (SJO-YYZ) has increased the amount of deals in the luxury segment, primarily from Canadians investing in Costa Rica, but also outbound referrals from Costa Rica to Canada for local sales and purchases.

The City of Toronto is a sprawling urban centre home to almost three million residents, several different cultures, opportunities, and lifestyles. From waterfront living and trendy condo communities to quiet family-friendly enclaves and neighbourhoods next to nature—and everything in between—you can find it all here in the province’s capital.

Christan Bosley, President, Bosley Real Estate

Luxury Real Estate in Toronto

The luxury real estate market in Toronto stands as a testament to the city’s status as a global metropolis. Defined by upscale condominiums and exclusive penthouses, Toronto’s luxury segment offers discerning buyers an unparalleled blend of sophistication, prestige, and world-class amenities. In coveted neighborhoods such as Yorkville, The Bridle Path, and Forest Hill, magnificent estates adorned with grand architecture and lavish interiors command attention, drawing affluent buyers seeking the epitome of luxury living.

Moreover, the influx of high-net-worth individuals and international investors has fueled a surge in luxury developments, with iconic skyscrapers redefining the city’s skyline and setting new benchmarks for luxury living. With top-tier amenities, panoramic views, and unparalleled privacy, Toronto’s luxury real estate market continues to attract discerning buyers from around the globe, cementing the city’s reputation as a premier destination for luxury living.

Toronto, Canada

The main areas for luxury real estate homes and properties in Toronto include:

  • Yorkville
  • The Bridle Path
  • Forest Hill
  • Rosedale
  • Lawrence Park

Toronto Real Estate Network

At LX, our partnerships with Luxury Portfolio International and Leading Real Estate Companies of the World form the cornerstone of our global connections, empowering us to forge meaningful relationships not only in Toronto but also across the globe. These esteemed affiliations underscore our commitment to delivering a top service on an international scale while providing us with unparalleled access to an extensive network of top-tier real estate professionals. Through these collaborations, we have the privilege of showcasing the finest properties in Toronto, ensuring that our clients have access to the most exclusive listings and opportunities.

Our team of dedicated LX agents prides itself on cultivating personalized connections tailored to the unique needs of our clients. Whether you’re seeking to purchase, sell, or invest in Toronto’s real estate market, our approach revolves around aligning your specific requirements with the expertise of local professionals. Explore the portfolios of our esteemed partners below to discover the finest properties Toronto has to offer bellow:

What $1M gets you in Toronto real estate

Real Estate in Toronto

$998,000

2-Level, semi-detached home in Carlton Village with proximity to the bustling stockyards shopping area and adaptable layout.

Toronto Real Estate Market

$995,000

Brand new, South facing two-bedroom condo + den suite with contemporary design and access to shared amenities.

Condo Real Estate in Toronto

$995,000

Detached, 2-bedroom bungalow with basement, just walking distance from Lake Ontario.

Types of property in Toronto, Canada

Toronto’s real estate market boasts a rich tapestry of neighborhoods, each with unique charm and appeal. From the trendy streets of downtown Toronto, where high-rise condominiums offer luxurious living with breathtaking skyline views, to the leafy suburbs of North York and Etobicoke, where spacious single-family homes provide tranquility and space, the city caters to a wide range of lifestyles and preferences.

Condominium (Condo):

  • What is it? A condo is a unit within a larger building or complex, typically owned individually while common areas are shared.
  • Characteristics: Condos often feature amenities such as gyms, pools, and concierge services. They are known for low maintenance and convenience.
  • Ideal for: Young professionals, couples, or retirees seeking a low-maintenance lifestyle with access to urban amenities.

Detached House:

  • What is it? A standalone residential structure not attached to any other building.
  • Characteristics: Detached houses offer privacy, outdoor space, and flexibility for customization or expansion. They are often the most expensive property type.
  • Ideal for: Families or individuals who prioritize space, privacy, and autonomy.

Semi-Detached House:

  • What is it? A residential structure sharing one common wall with another house.
  • Characteristics: Semi-detached houses offer a balance between privacy and affordability compared to detached homes.
  • Ideal for: Families, couples, or individuals seeking more space than a condo without the maintenance of a detached house.

Townhouse:

  • What is it? A multi-level residential unit sharing walls with neighboring units, forming a row of houses.
  • Characteristics: Townhouses often feature individual entrances, outdoor space, and shared amenities such as playgrounds or community centers.
  • Ideal for: Families, first-time homebuyers, or individuals seeking a balance between space and affordability in an urban setting.

Duplex/Triplex:

  • What is it? A residential building divided into two (duplex) or three (triplex) separate units, each with its own entrance.
  • Characteristics: Duplexes and triplexes offer the potential for rental income while providing separate living spaces for multiple households.
  • Ideal for: Investors, homeowners interested in supplemental rental income, or multigenerational families seeking proximity with independence.
Real Estate in Toronto

Requirements for foreigners to buy property in Toronto, Canada

Here’s a breakdown of some key legal requirements for foreigners to buy property in Toronto:

Prohibition on the Purchase of Residential Property by Non-Canadians Act

  • What it is: This is the Act that restricts foreign buyers from purchasing certain residential properties in Canada.
  • How it applies: The Act applies to non-Canadians who are not permanent residents or citizens of Canada. It prohibits them from buying single-family homes, semi-detached houses, and condominiums in major metropolitan areas like Toronto.

Exceptions to the Prohibition

  • Properties outside Census Metropolitan Areas (CMAs) and Census Agglomerations (CAs): Foreigners can buy properties located outside major urban centers.
  • Recreational properties: This includes vacation homes and cottages.
  • Purchases with a Canadian spouse or common-law partner: If you are married or in a common-law partnership with a Canadian citizen or permanent resident, you may be exempt from the ban, depending on the specific circumstances.
  • Study or work permit holders: As of April 2023, there are exemptions for certain study and work permit holders who meet specific criteria (more details can be found on the government website.

Non-Resident Speculation Tax (NRST)

  • What it is: This is a tax imposed by the Ontario provincial government on foreign buyers who purchase certain residential properties in the province.
  • How it applies: The NRST is a 25% tax on the purchase price of the property. It applies to non-residents and non-permanent residents who are not citizens of Canada.

General Real Estate Purchase Requirements

  • What they are: These are the standard requirements for anyone buying property in Toronto, regardless of citizenship status.
  • How to meet them: These typically involve:
    • Having a valid form of identification (passport)
    • Securing financing (if required): Foreign nationals may find it more difficult to obtain a mortgage from a Canadian lender. A larger down payment (minimum 35%) is usually required.
    • Using a lawyer: It is highly recommended to consult with a real estate lawyer familiar with foreign ownership regulations.
    • Following standard closing procedures: This involves finalizing the purchase agreement, transferring ownership title, and paying all associated fees.

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