Toronto, the capital city of Ontario, has many labels.
It is Canada’s largest and most populated metro. In addition, it is one of the world’s most cosmopolitan cities and is considered Canada’s financial capital and leading technology hub.
Though fairly earned, a slightly less known nickname is “Most Expensive City in Canada.”
A Vibrant Cultural Mosaic
A genuine multicultural metropolis, just over half of the city’s population belongs to a minority population group, and more than 160 languages are spoken here. Toronto is a prominent center for the fine arts, such as music, theatre, ballet, symphonies, television, and movies, and is a popular filming location.
Annual festivals such as the Toronto International Film Festival, Caribana, and Pride Week celebrate the sheer diversity of its population.
Architecture-wise, Toronto is a city of skyscrapers, though the older neighborhoods can surprise you with their quaintBay and Gable houses.
The panoramic skyline highlights residential high-rise buildings that scramble to house Toronto’s increasing population. As the sprawling central districts get progressively crowded, there is a growing demand for more residential space at affordable prices.
Median Sale Price of Homes
The Toronto Regional Real Estate Board (TRREB) estimates themedian sale pricefor condo townhouses at $830,000, with apartment units hovering around the $699,000 price mark by the second quarter of 2022.
A detached house can set you back by $1,357,500, especially with the MLS® HPI Composite and average selling price staying above last year’s levels.
Most Expensive Homes
The Real estate market in Toronto isamong the priciest in the country, and buying a home can burn holes in your pockets.
Nevertheless, suppose you have the money (or maybe a fairy godmother). In that case, Toronto has some stunning homes for sale – well, let’s call them mansions – appropriately located in exclusive neighborhoods.
Bridle Path, Sunnybrook, York Mills, and Forest Hill are sought-after addresses with houses sold at average prices of $ 20 million and upwards.
These one-of-a-kind expensive properties are set on secluded acres of land and assure their owners of privacy, plenty of space, and outstanding architecture. The elite Upper Canada College is in Forest Hill too, and you can easily run into celebrity neighbors.
Expensive Home No. 1 – 88, Forest Heights Boulevard
This two-story home is available for a mind-boggling $ 29,800,000, placing it high on the list of the most expensive houses. The mansion has six bedrooms, 11 bathrooms, a detached guest suite, and a 14-car garage on manicured grounds.
This massive home blends European architecture with state-of-the-art features. With a living space of over 20,000 square feet, the property includes a recreation room, gym, sauna, an elegant wet bar, and a pool.
And the best part, the high-end custom-made furniture is included in the asking price.
Expensive Home No.2 – 11, High Point Road
Making the list of the most expensive houses is this elegant mansion located in the affluent Bridle Path neighborhood. Surrounded by 2 acres of lush gardens, this magnificent home oozes luxury and is listed at $27 million.
The stately house is an exclusive gated property and boasts a stunning Cathedral-style foyer with marble flooring, which opens up to an impressive “Scarlett O’Hara style staircase.” The detached house boasts nine bedrooms, 14 bathrooms, a vast library, a games room, and a media and entertainment room.
Barry Cohen, the listing Realtor, feels that the quiet, tree-canopied street adds to the serenity to this property.
Expensive Home No.3 – 16, Stratheden Road
Another mansion designed by award-winning architect Richard Wengle, this lovely property can be yours for a cool $ 25 million. The house has a natural stone exterior adding a warm elegance.
The interiors are a perfect foil, with spacious bedrooms, repurposed wooden floors, marble floors, and exquisitely designed elements. The main floor is spread over 18,000 square feet of living space and has an indoor 10-car garage, cigar, and wine tasting room, private gym, swimming pool, and spa.
Adding to the List of Toronto’s Most Expensive Homes
Property at 68, Bridle Path
With an asking price of nearly $40 million, Mr. Richard Campeau’s residence was once the most expensive home in Toronto, if not the entire country.
The spectacular property is built over an expansive 30,000 square feet; and has a 50-foot indoor pool that can convert into a ballroom, a tennis court, a gourmet kitchen, wood-burning fireplaces, a recording studio, and a vault room.
The impressive French-style castle has a cobbled circular driveway with a water fountain in the middle.
Saint George Manor at 2275 Doulton Drive
This French-chateau-like mansion in Mississauga can be bought for $ 37.5 million, making it one of the most expensive houses in the Ontario real estate market.
Spanning a massive 25,000 square feet, the spectacular property has a private nightclub and a swoon-worthy home theatre with custom Lamborghini seating. The indoor swimming pool has lofty ceilings, huge windows overlooking the grounds, a fireplace, and stucco walls imported from Germany.
And Now, the Most Expensive Home of Them All
24 Park Lane Circle – $45 million
This two-story property with a classic brick and stone exterior is in Bridle Path and is the most expensive house on sale so far, at a dizzy $45 million.
The under-construction 28,000-square-foot home is located on a three-acre lot backing onto a ravine. Realtor Barry Cohen says the large property is worth the price for its land value alone.
The house is still in the pre-drywall phase, which offers prospective buyers the chance to bring in their own builder for any customizations.
When completed, the colossal residence will have nine bedrooms, 16 bathrooms, an indoor pool and parking for 20 cars. A stand-out feature is the dramatic opposing spiral staircases in the reception, a true sign of sumptuous luxury.
Psst… just in case you are a fan, it is right across the street from Drake’s mansion.
End of the Tour
The most expensive homes do not always display a “For Sale” sign. They are instead discretely sold by luxury Realtors without the properties being listed on the market.
Photos of these awe-inspiring estates provide a glimpse into the bespoke interiors and grand facades. As architects create magic with their designs, we can only marvel at the uber-luxury features.
The housing market in Ontario and British Columbia housing offer investors some of the most expensive homes in Canada. And as always, we recommend that you contact an establishedreal estate brokerageto ensure you get the best deals.