The Danforth / Greektown Homes & Real Estate Toronto

Greektown dates back to as early as the 1910 and is known for its architecture reflected in its many stores and Greek restaurants.

Also known as The Danforth, Greektown is a Business Improvement Area (BIA) of the city of Toronto. Located on the Danforth Avenue, Greektown dates back to as early as the 1910 and is known for its architecture reflected in its many stores and Greek restaurants. It has a large of Greek immigrants. In recent years, Greektown has seen a wave of higher-priced bars and restaurants moving in. In addition, the modern Greektown has one of the highest restaurant concentrations per kilometer in the world.

Greektown has seen a change in the movement of more affluent individuals to this neighborhood despite it being a lower class area. This has resulted in increased incomes, larger houses being developed and this has in turn resulted in the real estate values going up. Real estate investment in Greektown is thus being seen as a wise investment in both the commercial and residential properties. A high rent associated with the increased real estate values can result in substantial revenue to property owners in this neighborhood. This urban gentrification in Greek town has also resulted in giving incentive to homeowners to sell their homes as a result of increased property values which have in turn resulted in unaffordable property taxes prompting many to sell out and move to affordable locations.

Undoubtedly, an investment in Greektown will result in substantial returns, both in commercial and in residential real estate property.