Watching the roller coaster that is Toronto’s real estate market has become its own spectator sport. In a city desperate for housing options, everyone has a take because everyone has a stake. Our readers consumed an eclectic spread of stories this year: an architect’s passionate defence of downtown living, harrowing accounts of student slums, breathtaking renovations built on a budget. But the real estate pieces that really took off were ones of dogged success—Torontonians who found freedom with a little bit of luck and a lot of ingenuity.
Here are Toronto Life’s most-read real estate stories of 2023.
Recent studies out of York University suggest that international students in Toronto—particularly those from India—are being targeted by predatory landlords. These students often face sexual harassment, discrimination and slum-like quarters. VanshThukral, a 21-year-old York student, understands these abuses all too well. Here, he shares his story. | By Vansh Thukral, as told to Andrea Yu | August 16 Read more ➨
Gord Harrison, a contractor, initially purchased this 100-year-old property for $1 million in February of 2021 as a home for his young family. He brought in his friend Shawn Chua, with whom he had partnered on a dozen previous renos, to share the load. Then they discovered a rat’s nest of problems. | By Andrea Yu | June 16 Read more ➨
“Even if someone offered me a detached house with a backyard for the same price and location as my condo, I wouldn’t accept it,” writes architect Naama Blonder. “Our condo has more privacy. Our building’s security makes us feel safer. And I would never trade our unit’s abundant natural light for the tiny windows of most suburban homes.” | By Naama Blonder, as told to Andrea Yu | April 11 Read more ➨
He said his name was Mike Borac and that he could build homes faster and cheaper than anyone else. By the time his clients realized his promises were too good to be true, their money was gone. | By Mathew Silver, with additional research by Alex Cyr and Charlotte Genest | October 10 Read more ➨
What small-town home would be complete without 10,000 square feet of underground space, a cigar room and a kitchen as long as a bowling alley? | By Andrea Yu | June 14 Read more ➨
Marion Rana and Jarelle Gabison recently made the move from Mississauga to a one-bedroom condo near Islington station. With a combined salary of $157,000, the two have built a financial safety net by dividing their present and future expenses. “Most of his income goes to investments and savings,” says Jarelle, “while mine goes to everyday spending.” | By Roxy Kirshenbaum | May 18 Read more ➨
Five years have passed since we last ran our neighbourhood rankings, and what a transformation there’s been. The pandemic radically altered how we live, work and commute. Downtown lost its mojo (for a time, anyway), and the suburbs gained new appeal. Change proliferated in other ways, too. The city is bursting with new transit projects, condo towers, Michelin-star restaurants, rooftop farms, hypermodern shopping complexes—even a shiny new hospital up in Vaughan. Once-derelict stretches are now brimming with chic retail and cafés. Here is our mostly scientific, slightly inflammatory, deeply informative portrait of this ever-evolving city. Let the showdown begin. Read more ➨
Three years ago, amateur engineer Joe Nimen got to work building his dream home: a collection of four shipping containers fashioned into a floating cottage. In Nimen’s eyes, the four-season structure is a feat of ingenuity and environmental stewardship. For his many critics in the Port Severn area, however, it’s an unsafe eyesore with no business being on the water. Here, he tells us how he built a seaworthy home, why he isn’t bothered by the haters and what he sees as the real issues in cottage country. | By Courtney Shea | July 13 Read more ➨
Toronto-based Tal Gershon, a 30-year-old nurse, and Mads Lott, a 29-year-old elementary school teacher, regularly pack up their Mercedes sprinter van and hit the road. For months at a time, they live in the 55-square-foot space while they travel the world. Here, the couple breaks down the DIY renovations that made their home on wheels livable, how much money van life saves them and how they balance their wanderlust with in-person jobs. | By Tal Gerson and Mads Lott, as told to Tara DeBoer | August 25 Read more ➨
Georgia Broderick has been living out of a van with her fiancé, Alejandro Aquino, for four years. When the 29-year-old music instructor and rock-climbing route setter moved in, the vehicle, a 2016 Ram ProMaster 1500, was basically a tin can on wheels. Since then, the couple has slowly decked out its 72 square feet to include a full kitchen, a freshwater system and internet access. Here, Broderick explains the logistics of sleeping, eating and everyday living; breaks down their DIY renovations; and tells us how she and her soon-to-be husband make tiny living work. | By Georgina Broderick, as told to Tara DeBoer | July 26 Read more ➨
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
