Last Updated on October 24, 2023 by Ephraim Vecina
A new survey by Economist Intelligence Unit has found that Calgary, Vancouver, and Toronto are the best cities to live in throughout the continent, in no small part due to their market health and amenities.
The three cities had sufficient merit to qualify within the top 10 most liveable cities in the world, the study added. Globally, Vienna and Melbourne were the best cities.
Contributing to these locations’ excellence are their vibrant economies, mature industries, all-encompassing transport systems, and excellent education and health care.
“Overall, our index remains dominated by medium-sized cities in wealthy countries,” the report explained.
“The upsides of these cities tend to be fully realized. You get a good collection of cultural activities, you get good access to healthcare and education,” EIU Asia regional director Duncan Innes-Ker told Bloomberg. “But you don’t get a lot of downsides that tend to come with big cities, things like traffic congestion, crime problems and general wear and tear.”
The findings mirrored those of a RE/MAX survey conducted by Leger earlier this year, which found the three Canadian cities to be especially attractive destinations.
In particular, Calgary earned exceptional marks in nearly two-thirds of the RE/MAX liveability benchmarks, most importantly in terms of population growth, housing supply, and access to retail outlets.
Vancouver’s robust public transit options, including the Skytrain and bus system, also made it a strong favourite. The city ranked high in RE/MAX measures of walkability, especially in Yaletown.
Meanwhile, Toronto ranked medium in terms of access to green spaces/parks, and high in population growth, retail store availability, and healthcare access.
This is despite a prevailing climate of elevated housing prices in the Canadian cities. Indeed, Vancouver has recently seen an upward trend in rental demand spurred by unaffordability.
“While price and value are always top of mind for buyers, there are some aspects about a home that you can’t change,” RE/MAX of Ontario-Atlantic Canada executive VP Christopher Alexander stated at the time. “These liveability factors are what make your home more than just the place you live.”
Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth.
Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance.
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