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Torontonians Look To L.A For Investing In Homes

Apr 24 2017
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Whether it be for the fact that the Toronto housing market is totally saturated, or wanting a personal lifestyle change, Torontonians are looking into L.A’s homes. The reason being, a celebrity home in Los Angeles can be comparable in price to some homes in the downtown core.

A Hollywood Hills house, owned by one Jared Leto, is listed for $1.9 million US. The four-bedroom, three-bathroom home is nestled behind a quiet façade, comes with a recording studio, and a gorgeous lagoon-style pool surrounded by an expansive patio and lush mature landscaping. The list price converts to about $2.7 million CAD which wouldn’t be enough to purchase a semi-detached home in Rosedale, let alone one with a pool and built-in recording studio.

According to luxury real estate experts, a number of big investors who are prominent in Toronto are looking to get into the L.A. market. Since the announcement of the new Ontario Fair Housing Plan however, the city has speculation whether the market will change in the near future.

 

Source: CBC News

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