Over the last ten years the luxury market has had to re-brand itself to keep up with the demands of their growing demographic. Today there are many people who are earning over $500,000 in annual salary and they are much younger than they used to be; quite a number of this new group are in their 30's and are entrepreneurs and business owners. The luxury market is expanding into more customize niche markets for their discerning client base.
From the "new money" celebrities and corporate executives who flex their new-found disposable incomes in new business ventures like specialty food and beverage industries (e.g. Wines, Vodkas, Sports Drinks, etc.) to the fashion and beauty market (i.e. online celebrity athletic wear, shoes, beauty products) to name a few. More established wealthy patrons and savvy investors tend to stick to tried and tested markets like gold, silver, mineral and of course real estate.
As our fine city of Toronto continues to grow, change and expand the younger up-and-comers are finding the older more established affluent neighbourhoods no longer meet their needs or more importantly their lifestyle. It's simply too far away from what they enjoy doing in their off hours. No theatres, clubs, rare book stores, choices of fine dining restaurants or the general feel of our city's vibrancy can be found in the suburbs and outerlying areas.
A new wave has set in and is growing in popularity.
There are many newly established luxury neighbourhoods in Etobicoke and even more developing areas where "new money" is being infused by upward moving professionals and real estate investors alike creating a new vitality to old neighbourhoods by way of fix and flip as well as tear-down and rebuild in order to get the look and feel they want in the neighbourhoods they desire to love and want to live in with their growing families. These folks are making their real estate dollars work very hard for them when decide on their preferred location no expense is spared to create the kind of living environment they desire. Their vision often includes: 2-level garage parking, entire rooms designated as clothing salons with customized cabinetry and motorized racks, heated floors, just to name a few.
Salesperson - Savvy Investor Agent Certified (SIAC)
RIGHT AT HOME REALTY INC., Brokerage
Direct: 416-710-7752 I Office: 416-391-3232 I Fax: 416-391-0013
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