CITY FOCUS | TORONTO
WHAT ’ S IT LIKE TO LIVE IN TORONTO ?
Those thinking of launching a new venture in Toronto will inevitably want to find out more about the quality of life there .
Canada ’ s biggest city by population placed ninth in this year ’ s Global Liveability Index , published annually by the Economist Intelligence Unit . In the latest index , more than 170 global cities were ranked based on their performance in five broad categories : culture and environment , education , healthcare , infrastructure and stability .
Toronto received a score of 96.5 out of 100 , including perfect marks for education , healthcare and stability , while Vancouver and Calgary also made the top 10 .
The downside for would-be entrepreneurs is that , like countless Canadian cities and communities , Toronto scores poorly for affordability – especially on the housing front .
Recent research carried out by the BMO concluded the nation ’ s housing affordability problem was showing little sign of easing , while the National Bank of Canada ’ s quarterly Housing Affordability Monitor showed mortgage payments as a percentage of income had reached 83 % in Toronto . As of June 2023 , the price per square foot for a downtown apartment in The Six was US $ 820.74 , making it the fifth most expensive city in North America after New York City , Boston , San Francisco and Vancouver when using this particular metric .
124 September 2023