The Economist Votes Toronto Best City In The World
CONNECT asset management
In the News
January 30, 2015
Toronto has been ranked the best city to live in the world by the Economist. The ranking aggregates Toronto’s performance across a range of indexes, which include safety, livability and cost of living. National level rankings like the Economist’s Democracy and Global Food Security Index were also factored into the overall rank. So, like, we’re the best. Give yourself a pat on the back.
The overall rankings come as part of a new survey from the Economist Intelligence Unit that ranks cities based on how safe they are. According to this report, Toronto is the safest city in North America and eighth-ranked city in the world, trailing Tokyo, Singapore, Osaka, Stockholm, Amsterdam, Sydney, and Zurich. The safety index is ranked according to the following criteria: digital security, health security, infrastructure and personal safety.
In the overall rankings (what the Economist calls the “index of indexes”) Toronto has only one category in which it doesn’t rank in the top 10 globally. Can you guess what it is? Yep, cost of living. In this category, our city comes in 70th place. That’s not really surprising, and for what it’s worth, most of the other cities in the top 10 of the overall rankings are deemed to be more expensive than Toronto.
For years REITs, pension funds and other institutional investors understand that student housing close to colleges and universities provide a consistent high performing investment. The proposition is simple, buy near a major post secondary institution and rent to students who require accommodations.
The average Toronto area re-sale home price rose 1.7 per cent year over year in January to $748,328, including single-family homes and condos, according to the Toronto Real Estate Board (TREB), which is forecasting a 4 per cent annual price increase for 2019.
Looking for a pad within walking distance of Toronto's subway system? Good call. You'll get around the city a lot cheaper and faster than you would by taking a car—you just may have to pay a bit more for your home upfront.