Real Estate

Toronto rents rank 26th out of 30 amongst world financial centres

  • Last Updated:
  • Mar 21st, 2017 5:13 pm
[OP]
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Dec 5, 2015
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Thornhill, ON

Toronto rents rank 26th out of 30 amongst world financial centres

Toronto financial centre is ranked 13th but rent is only 26th most expensive out of 30 cities...

Toronto real estate and rent is a bargain compared to other cities world-wide but many here don't seem to be aware of it

http://www.cbc.ca/news/canada/toronto/t ... -1.4030464
22 replies
Deal Fanatic
Dec 27, 2013
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Toronto
Doubleshot wrote:
Mar 19th, 2017 7:18 pm
Toronto financial centre is ranked 13th but rent is only 26th most expensive out of 30 cities...

Toronto real estate and rent is a bargain compared to other cities world-wide but many here don't seem to be aware of it

http://www.cbc.ca/news/canada/toronto/t ... -1.4030464
yeah but when you compare finance centres accross the world, Toronto doesn't rank very high either.

New york
londo
signapore
hong kong

all much larger financial cores than toronto and higher salaries.
[OP]
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Dec 5, 2015
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Thornhill, ON
daivey wrote:
Mar 19th, 2017 7:54 pm
yeah but when you compare finance centres accross the world, Toronto doesn't rank very high either.

New york
londo
signapore
hong kong

all much larger financial cores than toronto and higher salaries.
Yes that's why their rent is much higher. Toronto is the 13th largest financial centre but rent is only ranked 26th... The ones you listed are much bigger and have much higher rent to match
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Feb 9, 2009
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Alot of people won't come here for the weather alone.
Deal Fanatic
Dec 27, 2013
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Toronto
Doubleshot wrote:
Mar 19th, 2017 8:02 pm
Yes that's why their rent is much higher. Toronto is the 13th largest financial centre but rent is only ranked 26th... The ones you listed are much bigger and have much higher rent to match
we also have a rather large residential core. the demand isn't quite there yet to support much higher rents..otherwise it would have skyrocketed more in the last decade.
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Oct 26, 2003
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what a crappy comparison, you need to show the income as well, that same finance job in toronto gonna be a lot less than new york or london or even hk.
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Dec 11, 2008
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There are other factors too like taxes and other costs of living. Rents are only supported by income.
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we are not even a world financial centre...why are we comparing those prices. they need to find cities that are similar to Toronto.
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[OP]
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Dec 5, 2015
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Thornhill, ON
divx wrote:
Mar 19th, 2017 10:53 pm
what a crappy comparison, you need to show the income as well, that same finance job in toronto gonna be a lot less than new york or london or even hk.
Income is much higher in Toronto than Hong Kong, Shanghai and etc
Member
Jul 3, 2007
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jobs in Toronto dont pay what those other cities do on average..... and our rents are now at unaffordable amounts for most workers


so no, its not a bargain
Doubleshot wrote:
Mar 19th, 2017 7:18 pm
Toronto financial centre is ranked 13th but rent is only 26th most expensive out of 30 cities...

Toronto real estate and rent is a bargain compared to other cities world-wide but many here don't seem to be aware of it

http://www.cbc.ca/news/canada/toronto/t ... -1.4030464
Member
Feb 13, 2017
277 posts
229 upvotes
joepipe wrote:
Mar 20th, 2017 9:05 am
jobs in Toronto dont pay what those other cities do on average..... and our rents are now at unaffordable amounts for most workers


so no, its not a bargain
Toronto income in higher than HK, Shanghai, Singapore. Seoul and some others on that list.
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Doubleshot wrote:
Mar 20th, 2017 8:44 am
Income is much higher in Toronto than Hong Kong, Shanghai and etc
they have better subway system so you can live further away from the core and still get to it without wasting hours on the road
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Sr. Member
Dec 30, 1969
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Toronto, ON
The reason why rent is cheap is because rent is dependent upon salaries and not the price house/condo itself. In Toronto, the salaries are way lower than the other cities, and until salaries rise and demand increases, rent will stay low and owners will continue to subsidize renters. ie: in NYC, the salaries are high enough that people don't care about paying $4000 1 bedroom condos.

Also, the article says that you can get a 1000 sqft condo for $1600 LOLOL. Clearly the author is out of touch and trying to pump toronto real estate more.

Fake news.
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Dec 30, 1969
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Toronto, ON
crocp8 wrote:
Mar 20th, 2017 9:18 am
Toronto income in higher than HK, Shanghai, Singapore. Seoul and some others on that list.
Fake news.

Toronto has higher taxes as well so your take home pay is actually way less than in HK, and those asian countries.
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Dec 27, 2013
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rkanwar109 wrote:
Mar 20th, 2017 11:42 am
The reason why rent is cheap is because rent is dependent upon salaries and not the price house/condo itself. In Toronto, the salaries are way lower than the other cities, and until salaries rise and demand increases, rent will stay low and owners will continue to subsidize renters. ie: in NYC, the salaries are high enough that people don't care about paying $4000 1 bedroom condos.

Also, the article says that you can get a 1000 sqft condo for $1600 LOLOL. Clearly the author is out of touch and trying to pump toronto real estate more.

Fake news.
Exactly what a dumb article.

A 650 sq ft condo in liberty village is going for 2100.....

And that's not even considered the core.

King west at spadina is going for like 2000 for a 500 sq ft.


Lol 1000 sq ft starts at a minimum of 2600 in liberty village and around 3000+ on king west at spadina..

And again that's not really the financial core.
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