Scarborough is an administrative district in Canada that is located at the eastern fringe of Toronto, from the Victoria Park to the Rouge River (east) and Lake Ontario (south).
Recognized by individuals all across Toronto as a mosaic of different ethnic cultures, the area is admired for its gorgeous natural scenery, which played a significant role in the district becoming the residential hotspot that it is today. Although it was once classified as the central business district of Scarborough, the former city in Toronto has changed dramatically over the years.
The area’s impressive skyline now boasts several high-rise condominiums buildings amidst the older business spaces. Living in Scarborough, Torontonians can stay in touch with nature by exploring the giant clay cliffs of Scarborough Bluffs (which spans 15 kilometers) or stroll along Lake Ontario and admire its natural beauty. The eastern end of the city is washed by the Rouge River, a natural waterway and scenic location where Scarborough residents can go to enjoy the view.
The area features several structures, including residential condo developments, shopping malls, high-rise office buildings, low-rise residential buildings, educational and recreational facilities, and a Government of Canada office.
Scarborough is a favored residential area by several families; however, the area does attract far more singles. Nuclear households are generally made up of one to two kids, the majority of which are younger.
One of the main landmarks in the district is the Town Centre Mall, which played a significant role in making the neighborhood what it is today. For many residents, the Scarborough Town Centre is the focal point of the city and is its where you’ll find Scarborough Centre Station as well.
As awesome as the man-made structures are, people also love the natural wonders of the Scarborough Bluffs and the Toronto Zoo.
Residential property ownership in Scarborough is relatively high. 64% of residents living in the area reside in properties that they own, while the smaller 36% rent. The average household income in Scarborough was estimated to be $63,085 annually.
The population in the area, which was last estimated at 7,371 has been growing dramatically over the years welcoming new residents from all over Canada and the world; 64% of which are between the ages of 25 and 54.
The district’s real estate market includes numerous condominiums, which account for 46% of property sales in the area. Simple family homes account for 30% while the remainders are semi-detached homes purchases and other miscellaneous residential spaces. The vast majority of residents are gravitating towards brand new condos in Scarborough that are available in several sizes and offer one to three bedroom options.
Currently, the average price for new condos in Scarborough’s City Centre is estimated to be $433,358, a 16% increase from the previous years. Investing in a new condo in Scarborough is a great investment as the price steadily increases. It is expected that the sale of pre-construction condo units in the area will flourish over the next few years.
Scarborough also offers reliable transportation solutions to residents who rely on public transit. TTC buses and the Scarborough RT Line provide quick and convenient connections to the subway line. The Scarborough Centre Bus Terminal also features several buses; such as GO Transit, Megabus, Coach Canada, Can-ar, and Greyhound, that all offer affordable transportation to residents. For individuals living in Scarborough with private cars, several arterial roadways offer quick access to neighboring areas, as well as Highway 401, which is not too far away.
For education-related options, Centennial College is situated in the eastern region of the neighborhood and is a popular choice among Scarborough residents. It is the oldest college that is funded by the government in Ontario and is well known for its multicultural and diverse student population. Centennial was ranked as one of the top research colleges in Canada and currently hosts 40,000 students.
A total of 18 high-rise condominiums are located minutes from the Scarborough Town Centre mall. This gives residents quick access to retail outlets and several restaurants, just minutes from their homes. Scarborough’s number of condo development include exclusive amenities that are designed to ensure a luxury lifestyle for residents.
The area is also an attractive and convenient alternative to living in the bustling city areas of Toronto. Amenities range from luxury pools that are great for cooling off on warm Scarborough summer days to outdoor terraces that offer a great view of the area. Most Scarborough new condos will boast fully equipped fitness centers and spas so that residents can choose to either work up a sweat or relax after a long day.