100% this. Here is a similar post about Toronto that I made 6 months ago
I was in Toronto end of 2021 for a couple months and it’s probably one of the most expensive cities I have ever been in North America, even though I lived in New York. Prices must be even much crazier now given the double digit inflation that has hit Canada since 2021.
First of all, there is a huge housing problem with skyrocketing rents and purchasing prices. Some people say it is one of the largest real estate bubble market in the world at the moment. I don’t plan in entering a debate but the reality is that you will struggle to find a decent place to rent or buy (you are competing against dozens of others applicants as a potential buyer or renter). From what I have heard this is due to the immigration volume, population concentration in the area, and a weak construction projects pipeline.
Then, the CAD is about 36% weaker than USD, and about 42% weaker than the EUR which might dramatically jeopardise your financial future by slashing your savings capabilities as well as your purchasing power whenever you travel or settle back outside Canada (including back home in Europe).
Thirdly, the food scene is genuinely one of the worst I have ever seen. Terrible options, very unhealthy, no fresh vegetables (even worse than in the US), even the expensive European options are subpar compared to the low end restaurants you find in Western Europe. Besides, it is incredibly expensive. I felt that I was paying even less in NYC and the food in NYC while not incredible was still miles ahead. I was extremely disappointed by the food in Toronto.
Moreover, the weather is terrible more than half of the year. Incredibly cold and dry too during winter. Houses and apartments are also poorly insulated therefore expect to pay a LOT of money towards your energy bills, especially in today’s economic situation.
Lastly the social environment is slightly awkward. High homelessness and drug use (meth, crack, PCP) in many parts of downtown Toronto, its main streets and public parks. Obviously, tt will get worse and worse given the current economic situation, alongside inflation in the food, energy and housing sectors. Oh, telecommunications bills are also among the highest in the world (home internet, cellphone plans). If you do not trust me google it and you will realise you will need to plunge at least 150 or 200 $ per month on this alone.
Of course, it’s not all negatives. The people in Toronto are very nice (Canadians are truly nice people. Also, lot of immigration seeking a better life, lots of interesting people everywhere) but at the same time this city looks a bit dull and soulless because of the lack of culture and authenticity. If you are into techno/EDM, this scene in Toronto is to me the best in the world.
If you have any other questions, please shoot. This is purely based on my limited 2 month experience in the city.
100% this. Here is a similar post about Toronto that I made 6 months ago
I was in Toronto end of 2021 for a couple months and it’s probably one of the most expensive cities I have ever been in North America, even though I lived in New York. Prices must be even much crazier now given the double digit inflation that has hit Canada since 2021.
First of all, there is a huge housing problem with skyrocketing rents and purchasing prices. Some people say it is one of the largest real estate bubble market in the world at the moment. I don’t plan in entering a debate but the reality is that you will struggle to find a decent place to rent or buy (you are competing against dozens of others applicants as a potential buyer or renter). From what I have heard this is due to the immigration volume, population concentration in the area, and a weak construction projects pipeline.
Then, the CAD is about 36% weaker than USD, and about 42% weaker than the EUR which might dramatically jeopardise your financial future by slashing your savings capabilities as well as your purchasing power whenever you travel or settle back outside Canada (including back home in Europe).
Thirdly, the food scene is genuinely one of the worst I have ever seen. Terrible options, very unhealthy, no fresh vegetables (even worse than in the US), even the expensive European options are subpar compared to the low end restaurants you find in Western Europe. Besides, it is incredibly expensive. I felt that I was paying even less in NYC and the food in NYC while not incredible was still miles ahead. I was extremely disappointed by the food in Toronto.
Moreover, the weather is terrible more than half of the year. Incredibly cold and dry too during winter. Houses and apartments are also poorly insulated therefore expect to pay a LOT of money towards your energy bills, especially in today’s economic situation.
Lastly the social environment is slightly awkward. High homelessness and drug use (meth, crack, PCP) in many parts of downtown Toronto, its main streets and public parks. Obviously, tt will get worse and worse given the current economic situation, alongside inflation in the food, energy and housing sectors. Oh, telecommunications bills are also among the highest in the world (home internet, cellphone plans). If you do not trust me google it and you will realise you will need to plunge at least 150 or 200 $ per month on this alone.
Of course, it’s not all negatives. The people in Toronto are very nice (Canadians are truly nice people. Also, lot of immigration seeking a better life, lots of interesting people everywhere) but at the same time this city looks a bit dull and soulless because of the lack of culture and authenticity. If you are into techno/EDM, this scene in Toronto is to me the best in the world.
If you have any other questions, please shoot. This is purely based on my limited 2 month experience in the city.