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RE/MAX REALTY ONE INC., BROKERAGE 1399 Willowdown Rd, Oakville
Richmond Hill, with the motto of "a little north a little nicer" is known as one of Canada's fastest-growing communities. It is a suburb north of Toronto, Ontario that is famous for its stable economy and landmarks, located around 20 kilometers north of the city of Toronto.
 

Everything about Richmond Hill


Richmond Hill has blossomed since the early 1990s, becoming one of Canada's most prosperous cities. There are many subdivisions and condo communities that make up Richmond Hill. There are a number of private schools in Richmond Hill, the public school system is also excellent. Students are from diverse backgrounds which leads to one of the best aspects of Richmond Hill: the combination of various cultural communities that live side-by-side.


Life in Richmond Hill


Considered as one of the best Canadian cities, Richmond Hill is occupied by over 200,000 residents. It is a thriving economy with high living standards and employment rate. Since the city is small, it only occupies 100 square kilometers of land and the districts are not clearly define. It is home to over 20 neighborhoods which are all remarkable, a cultural hub for people from all walks of life, speaking more than 126 languages. Being in the heart of the GTA, it has easy access to major transportation systems. Let's take a brief look at the most famous areas: Yonge Street is one of the fastest growing and busiest streets in the city of Richmond Hill. It occupies a section of the old downtown area which has a combination of old and new houses and is a major transit hub thanks to the Go Train service which connects commuters to Toronto’s downtown Union Station. Oak Ridges is also an excellent neighborhood in the city that is located on the northern end of Richmond Hill, surrounded by parks and farmlands. Despite its location, the neighborhood continues to expand in terms of infrastructure and population. Jefferson is a small neighborhood that has become a hotspot for the young families and couples looking to live in a modern setting. Its area is great for all kinds of households, but families are the largest group with a large percentage of young children. Other famous neighborhoods include East Beaver Creek, Bayview Hill, Windham, Richvale, Hillsview, Mill Pond, Elgin Mills, and many others.


Entertainment


Lots of annual festivals, concerts and parades are available for the entertainment and leisure in the community. Add to this the community spots, recreational centers, and heritage centers, as well as golf clubs, all of which are accessible to the public. The Town of Richmond Hill has 6 public swimming pools which includes an indoor wave pool. A concert series called "Concerts in the Park" with specific themes takes place every summer. These concerts are mainly held at Mill Pond Park, and some at Richmond Green Park. A museum showcasing the town’s history is open to the public at The Richmond Hill Heritage Centre. Richmond Hill was awarded the National Communities in Bloom award in 2003. Richmond Hill Centre for the Performing Arts was opened in 2009.


Buying Property in Richmond Hill


Richmond Hill is a valuable investment market, expected to rise by 14.4% each year. Right now the property demand is on the rise due to the population growth and expanding job market. From row houses to apartments and luxurious homes, the value of properties continues to increase with median prices ranging from $5,805 to $8,515/sqm. Apartments mostly rent for $1,240 to $2,070/month, and in the outskirts, prices range from $1,100 to $1,670/month, so investors can expect lifetime earnings.


Apartment Price

 
Price per Square Meter to Buy Apartment in City Centre
$11,840.30  
Price per Square Meter to Buy Apartment Outside of Centre $8,072.93 CAD

Residents in Richmond Hill pay property taxes on all homes types. When purchasing a home, you get informed about the costs. There is no municipal land transfer tax in effect in Richmond Hill, but the provincial land transfer tax applies to all purchases. Ontario Land Transfer Tax Rates

 
Purchase Price Rate
$0 - $55,000 0.5%
$55,000.01 - $250,000 1.0%
$250,000.01 - $400,000 1.5%
$400,000.01 - $2,000,000 2.0%
$2,000,000+ 2.5%
 

Demographics


As mentioned above, the city has a population of over 200,000 people. Chinese families are the top minority group, forming 30% of the total population, followed by Iranian families -11%- and Italians -10%.

 

Public Transportation: Roads and Transit


Richmond Hill has easy access to Ontario's road network. Highway 404 is the major highway which leads directly into the core of Toronto. Highway 404 intersects with Highway 401 which is the principal east-west route in the Greater Toronto Area. The transportation within Richmond Hill is provided by York Region Transit (YRT) and GO Transit. The commuter train service is also provided by GO Transit on the Richmond Hill line with two stations in the city. Residents can easily travel to Toronto by taking YRT bus.


Retail


Lots of shopping centers are available throughout Richmond Hill. The largest and most popular mall within the city is the Hillcrest Shopping Centre, providing a huge range of products. Smaller shopping options in Richmond Hill include Times Square Richmond Hill, Richmond Heights, and Richlane Mall.


Healthcare


Richmond Hill is home to a variety of health companies that are using cutting-edge technologies to bring better healthcare to Canadians. Mackenzie Hospital is the main center where residents get healthcare services from. Examples of health companies in Richmond Hill are Amico, Apotex, Olympus Canada, and Pro-Lab Diagnostics. In addition, lots of family physicians and Specialists perform their practice in the city of Richmond Hill, making it convenient for residence to ensure their health and safety at all times.


Parks


Richmond Hill has over 200 parks operated by its Parks, Recreation, and Culture department. Free live music and amazing carnivals are often taking place during the year, especially in summer. One nice thing about life in Richmond Hill is the abundance of green spaces. These green spaces are available in almost every neighbourhood where you can enjoy hiking, outdoor sports, cycling or picnics. Some of these parks include Briar Nine Park and Reserve, French Royalist Park, Hunter’s Point Wildlife Park, Mill Pond Park, Richmond Green and many more.
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