Toronto’s luxury condo market has been overlooked by investors and homebuyers for years now. Be it the prices or the aspiration to own a home (not a condo) – I have come across a laundry list of reasons against buying luxury condos in Toronto.
But I’m here to change that narrative because I feel that Toronto luxury condos have been ignored for far too long – and for the wrong reasons. There’s value in owning a luxury residence in Toronto that goes beyond comfort and social standing in society.
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I have been in this industry for nearly 20 years and I’m constantly scouring the market for the best condos in Toronto – from investments in small pre-construction condos in Toronto to large luxury condominiums. This blog is the result of my analysis of Toronto’s luxury condo market.
I break down my top luxury condominiums into four categories: pre-construction, move-in soon, move-in ready & hotel residences. Of course, if you don’t find anything that fits your price range here, you can always go for a down-sizer prioritizing space and quality! Whether you’re an investor looking for a great deal or a home buyer who’s looking for your dream home – this list has you covered!
Looking At The Best Luxury Condos In Toronto
How Much Does A Luxury Condo Cost In Toronto?
On average, a luxury condo in Toronto will cost you upwards of $1 – $1.5 million in 2023. However, if you were to ask me, I would further break down luxury condos into three different buckets based on their cost:
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between $1 million – $1.5 million
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between $4 million – $10 million
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above $10 million
Why Should You Invest In A Luxury Condo In Toronto?
A report released by Sotheby’s International Realty Canada in January 2023 claims that 2023 is the ‘year of the buyer for Canada’s luxury real estate market’. Here’s why I agree with that statement:
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Revival of the real estate market: Toronto’s real estate market is finally rebounding after a tumultuous year, and I am not the only real estate agent out there who’s making these claims. For example, in an interview last month, Jana Korim, who’s looking after the sales for a luxury project, 36 Birch, said that she was shocked by the turnout at the recent Open Door and that “It was refreshing to see so many buyers who stayed home during the winter getting a jump on the spring market, actively shopping their options this early.” Even our daily website visitors are up nearly 75% in the last 4 months when compared to Q4 2022!
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High return on investment: Luxury condos in Toronto historically offer their owners astronomical returns in a very short period of time. In 2021, real estate properties worth over $4 million saw an increase in sales by 229%. Why? Because there’s a clear shortage in Toronto’s housing market, specifically semi-detached and detached homes, and the demand for these overflows into luxury condos. Investors are anticipating the growth of Toronto’s real estate market to be boosted by the city’s growing popularity and the influx of immigrants!
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Unparalleled convenience and accessibility: Luxury condos in Toronto occupy prime real estate in some of the best neighbourhoods of the city. As a resident of any of these condominiums – you get access to tons of modern, luxurious amenities which prove invaluable during the winter months. Owed to the fantastic location – odds are that you don’t have to walk too far to find a subway stop, streetcar stop, or TTC bus stop, and trust us, in Toronto – that’s convenient!
Read More: Why It’s [Actually] A Great Time To Invest In Toronto’s Condo Market
Best Luxury Condos In Toronto: Pre-Construction
One Delisle Condos
Address: 1 Delisle Ave, Toronto
Neighbourhood: Summerhill, Toronto
Completion: 2026
Located in the upscale neighbourhood of Yonge and St. Clair, in the heart of mid-town Toronto, this residential condominium offers panoramic views from all suites. The tower’s unique shape, which transitions from a square base to a rounded peak, features modules that create various unit types and balconies with different depths that protect its residents from wind and sun all year round.
One Delisle offers 1,558 square metres of commercial space, 1,372 metres of indoor amenities, and 532 square metres of outdoor amenities, making it an ideal choice for those seeking a luxurious lifestyle. It is conveniently situated close to streetcar and bus routes, as well as the St. Clair TTC Subway Station, providing access to four different TTC streetcar routes, three different TTC bus routes, and the Queen Subway station, all within walking distance. The proposed Ontario Line subway is also expected to be nearby.
For those who prefer to drive, it’s just a 10-minute commute from the DVP & Allen Rd. The neighbourhood offers plenty of options for families with children of all ages, including some of Canada’s most renowned educational institutions like the University of Toronto, Ryerson University, Upper Canada College, Montessori, and several other private elementary schools and pre-schools, all easily accessible to the residents of One Delisle.
No. 7 Dale Condos
Address: 7 Dale Ave, Toronto.
Neighbourhood: Rosedale Community
Completion: 2022
Overlooking Rosedale Valley, 7 Dale Avenue Condos gives its residents a rare opportunity to own one of 26 luxury condominium residences in Rosedale. This elegant and contemporary building is designed by the capable team at Hariri Pontarini Architects. It is intentionally located on the south side of Dale Avenue giving its residents access to some stunning south views of the valley.
If you live at 7 Dale Avenue – getting around the city will be the least of your problems. There are several subway stations within walking distance and you also have easy access to TTC streetcar and bus routes. Union Station is literally just 20 minutes.
The residences range from over 2,500 sq ft to over 5,000 sq ft, and each one is exquisitely designed with luxurious finishes. These units come equipped with oiled oak flooring, glass fireplaces, sleek chrome fittings, luxury appliances, and Molteni & C custom millwork walk-in closets.
10 Prince Arthur Condos
Address: 10 Prince Arthur, Toronto
Neighbourhood: Yorkville, Toronto
Completion: 2026
Book A Free Call To Learn More!
Nestled in the prestigious community of Yorkville, 10 Prince Arthur is a luxurious collection of artfully composed terraced residences that offers its residents an unrivaled lifestyle of elegance and exclusivity. This coveted development features 28 luxury suites and townhomes spread across seven storeys – with condo units starting at $2.5 million.
Travel from 10 Prince Arthur is convenient. Located just a few minutes walk away from Bloor-Yonge subway station, residents can easily access Union Station and downtown Toronto within 15 minutes. There are lots of bike stands nearby allowing you to explore the vicinity and meet your fitness goals at the same time!
Best Luxury Condos In Toronto: Move-In Soon
The Capitol Residences
Address: 2500 Yonge St, Toronto
Neighbourhood: Yonge & Eglinton
Book A Free Call To Learn More!
Madison Group is developing The Capitol Residences, a new condominium located at Yonge St & Eglinton Ave W, Toronto. The mid-rise condominium, rising 14 storeys, retains the original marquee of The Capitol Theatre and will feature 145 spacious and luxurious suites.
The residences range from one to three-bedroom units – all designed with grandeur in mind. Residents will enjoy indoor and outdoor amenities that exceed expectations, including a speakeasy-inspired gold stimulator and a playroom for kids of all ages. The development also offers ample on-site parking, as well as shopping and dining options.
Located at 2500 Yonge St. near Yonge and Capital, this midtown Toronto landmark builds on its iconic heritage. The building features ascending sun-steeped landscaped terraces and an estate-style garden, complete with a greenhouse of delights.
The One
Address: 1 Bloor St W, Toronto
Neighbourhood: Downtown Toronto
Book A Free Call To Learn More!
One Bloor St W, also known as The One, will become the heart and soul of the city with 416 suites spread over a stunning 85 storeys. As the second tallest building in Canada, The One will transform into a cultural hub bursting with street energy and endless opportunities for living, working, and playing. With no share walls, consumers can customize and combine units, meaning there may be even fewer than 416 suites. The One will offer top-notch amenities, including 24/7 cleaning and valet services, as well as theater rooms.
At The One Condos, residents can expect high-end retail tenants, including world-class restaurants and fashion centers. The One is poised to become a destination in the nexus of the city, with the highest pedestrian and vehicle counts, and the transit corner of Toronto. Similar to the Rockefeller Center, The One will be a destination in the public realm where all can congregate.
The One is set to become one of the most spectacular and desirable condominiums in all of Canada, offering residents unprecedented views of the beautiful city of Toronto from its towering heights. The convenient location and luxurious design will add the perfect decadent touch to the already impressive building.
321 Davenport Condos
Address: 321 Davenport, Toronto
Neighbourhood: The Annex
Step into a world of luxury at 321 Davenport Condos, an intimate building situated in one of the most exclusive neighbourhoods in the city. This stunning glazed glass condo offers two-bedroom and three-bedroom penthouses ranging in size from 1,388 sq. ft to 3,620 sq. ft.
With its sleek and modern design, the building boasts recessed balconies on the third to sixth floors overlooking Davenport, and private terraces for units on the eighth floor. The ground floor lobby is accessible directly from Davenport, and the building’s dramatic shape is set to become a true beacon of modern opulence within the Annex neighbourhood. With high-end boutiques popping up in the area, 321 Davenport Condos offers a luxurious and established option for those seeking the “creme de la creme” of living
Best Luxury Condos In Toronto: Move-In Ready
Museum House on Bloor
Address: 206 Bloor St W, Toronto
Neighbourhood: Downtown, Toronto
Museum House, a boutique-style condominium development, is located at the intersection of Bloor St W and Avenue Rd. The 19-storey tower features 26 luxurious condo suites. The property is all about exclusivity and privacy, with just 27 discerning residences occupying full and half floors. Each suite enjoys grand terraces and unmatched panoramic views of the city both north and south.
One of the key features of this project is that Museum House offers two types of suites. One type covers a full floor, while the other covers half of a floor. Both types of units feature large extended terraces that provide stunning and picturesque views. Some of the suites in Museum House offer 6,700 sq ft. of living space, along with direct access to the elevator in each suite. The ceiling heights range from 10′ to 12′, and the units feature fireplaces, private large terraces, high-end kitchens with custom cabinetry, large dining areas, and luxurious spa-like bathrooms.
One Forest Hill
Address: 200 St Clair Ave W, Toronto
Neighbourhood: Forest Hill
Discover luxury living at One Forest Hill Condos, located in the desirable hilly enclave of St. Clair Avenue and Avenue Road. Destined to become iconic with its classic beauty and livability, One Forest Hill encapsulates the aesthetics, values, and respect for heritage that make this neighbourhood unmistakably Forest Hill.
Conveniently located between St. Clair West and St. Clair subway stations, One Forest Hill offers its residents easy access to the streetcar and 24-hour bus services. You can skip rush hour traffic and commute to major downtown employment centers in less than 20 minutes – every day!
Forest Hill is a great neighbourhood for families with kids as it’s home to some of Canada’s most prestigious public and private schools such as Upper Canada College and St. Michael’s College for boys and Bishop Strachan School for girls.
Best Hotel Residences In Toronto
The Residences of Shangri-La
Address: 180 University Ave, Toronto
Neighbourhood: Downtown Toronto
Every inch of the condominium at Shangri-La has been meticulously designed to offer luxurious living. The units feature lofty ceilings, upscale Italian kitchens, high-end appliances, and smart home features like automated blinds and closet organizers. Residents have access to their condo units via a private lobby and high-speed elevators. They can also enjoy the hotel’s numerous lavish amenities, including a spa, fitness center, and a la carte services such as housekeeping and room service. Valet parking, a concierge, and doorman services are available, with estate and penthouse residents enjoying complimentary valet parking.
The hotel boasts several restaurants and retail stores, with the Four Seasons Centre for the Performing Arts just across the street, and downtown shopping and services within walking distance.
Positioned on University Avenue, right in the heart of downtown Toronto, the Shangri-La tower is an embodiment of luxury and sophistication, offering residents the ultimate Toronto condo living experience.
The St Regis Residences
Address: 311 Bay St, Toronto
Neighbourhood: Downtown Toronto
Book A Free Call To Learn More!
At the intersection of Bay and Adelaide, the St Regis Residences tower rises 58 floors high with an iconic limestone and glass facade, making it one of the tallest buildings in Toronto and a standout in the city skyline.
The first thirty floors of the building are occupied by the St Regis Hotel, featuring 211 hotel rooms and extensive conference facilities. The 31st floor is home to the luxurious Spa at St Regis, and the recently opened Louix Louis restaurant. On the 32nd floor, residents can enjoy a private and peaceful Sky-Lounge, complete with a dedicated concierge, fitness facilities, and an indoor lap pool. The terrace on the 32nd floor offers breathtaking views of the Financial District and Lake Ontario.
Living at The St Regis Residences means enjoying not only five-star services and amenities but also the consistent high-quality finish and design found throughout the suites. With soaring ten to twelve-foot ceilings, stunning Downsview-designed kitchens, top-of-the-line Miele appliances, marble and granite flooring and countertops, and spacious walk-in closets, these suites are a true embodiment of luxury.
Residences of The Ritz Carlton
Address: 183 Wellington St W, Toronto
Neighbourhood: Entertainment District
The Residences of The Ritz-Carlton Toronto sets a new standard for luxury living in Downtown Toronto. With a private lobby separate from the bustling hotel lobby, residents can access the 21st and 22nd floor sky lounge directly. The 22nd-floor residential elevators provide direct access to all residential levels, with many of the suites offering exclusive elevator service.
The Ritz-Carlton offers its residents unparalleled levels of luxury service with 24-hour concierge and security, doorman, valet parking, and chauffeur services to name a few. It is situated in the heart of Toronto’s Entertainment District, directly across the street from David Pecaut Square and steps away from renowned theaters such as the Royal Alexandra Theatre, The Princess of Wales Theatre, and the TIFF Bell Lightbox, the headquarters, and site of The Toronto International Film Festival.
Four Seasons Private Residences
Address: 50 Yorkville Ave & 55 Scotllard St, Toronto
Neighbourhood: Yorkville
The Four Seasons Residences are a hallmark of luxury living situated in the heart of Yorkville. The brand’s flagship location and one of the city’s top-rated luxury hotels, it is recognized globally for its high-quality finish and exceptional level of service. In addition to the hotel amenities, it includes just over 200 private suites spread across the East and West Towers with separate addresses and unique features.
Living at The Four Seasons Residences allows residents to experience hotel-style living with access to all the services and amenities of the five-star hotel. Its central location in Yorkville provides easy access to the city’s best dining and shopping options, with small boutiques lining the charming streets of Yorkville and Cumberland and luxury brands taking prime location on Bloor Street’s “Mink Mile.”
Both towers share the hotel’s superb service and amenities. The ninth floor of the West Tower houses The Spa at The Four Seasons Toronto, featuring nearly 30,000 square feet of space with an indoor pool, whirlpool, outdoor terrace, 17 treatment rooms, and a salon. The eighth floor offers a twenty-four-hour fitness center with a yoga studio and dedicated cardio and strength training area.
Final Words
I hope that through this blog I was able to do both: educate you a little about the current state of Toronto’s condo market while highlighting my top luxury projects for the future. If you’re spoilt for choice or don’t know where to begin, you can always book a call with me or my team and we’d be happy to help!
Pierre Carapetian
Pierre Carapetian is the Broker Of Record for Pierre Carapetian Group Realty with over 12 years of experience in the real estate market. As a proud Torontonian and real estate broker, he prides himself on knowing this city inside out. He started investing at the age of 18 and has facilitated over half a billion dollars in real estate transactions.
