On the Toronto real estate front, sales in the GTA luxury sector are slowly increasing this fall and winter, not back to where the market was in 2022, but slowly ticking up. Neighbourhood is one of the most critical factors in assessing a property’s value.
Recent reports (2025 mid-year data from Sotheby’s International Realty Canada and Engel & Völkers) show ultra-luxury sales ($10M+) surging despite broader market slowdowns, concentrated in prime areas where neighborhood prestige drives demand from high-net-worth buyers, including international investors and downsizers seeking privacy and proximity to elite amenities.
Lawrence Park (including Yonge-Lawrence area), family-oriented with its excellent schools, parks and suburban feel, elegant homes on large lots, quick downtown access, consistently ranks as one of Toronto’s finest neighbourhoods. With Toronto real estate, like in any other major urban centre, neighborhood is paramount: it defines prestige, lifestyle, resale potential, and ultimately, 50–70%+ of a property’s value premium in elite areas. Buyers pay for the address as much as the home.
Which bring us to The Aston Residences at Yonge and Lawrence, a boutique residence featuring 77 spacious home-sized suites. Prices start at CAD $1.8 million. Home owners in affluent neighborhoods like Rosedale and Forest Hill are often looking at these types of condo properties – they are technically downsizing, but not really downsizing in terms of square footage, plus they want the amenities that come with luxury condo living.
Janice Fox, broker of record, Hazelton Real Estate Inc., in Yorkville, overseeing sales for the project, knows exactly how prime location, especially in Toronto, can impact Toronto real estate values.
What do you want people to know about The Aston, and how are you positioning it in Toronto’s bustling luxury real estate market?
The Aston is answering a need in the Yonge /Lawrence area for a quality condo project, designed for downsizers in the neighborhood, who want to stay in their neighborhood. We looked at this location and realized it could address the existing lack of realistically sized ,quality suites in a dynamic location.
What is your definition of luxury?
Luxury is an experience. It’s truly about lifestyle. To be in a position to live relatively carefree with all of your ‘wish list’ incorporated in to your day to day living is what luxury is all about.
What does luxury mean to you personally?
The greatest luxury is time and having the freedom to allocate time as desired. In my business time is a precious commodity!
Is there a line between appreciating luxury and being ostentatious?
I don’t see that luxury has anything to do with being ‘loud’. It’s an entirely personal way of viewing and living your life. My idea of luxury and premium service could be quite different than yours. Quiet luxury is a bit of a catch phrase currently, but is probably the most succinct way of describing luxury. It isn’t about showing what you have — its about living your life to the fullest and loving every minute.
Do Canadians view luxury differently than Americans or Europeans?
Yes I think there is a big difference between the way we view luxury and our neighbors to the south. Perhaps we are less about ‘the show’. For Europeans, it feels like they are about enjoying the moment ,more about the dining and living experience, and less about the material wealth. Canadians are somewhere in between the two in my view.
How do you work luxury into your company’s branding? How do you communicate it?
We are focused on the luxury market. We are also quiet, not ostentatious as a brand. Our mission is to understand what is important to our clients, not just the number of bedrooms and the square footage. Our job is to understand what the client would see for themselves as the ideal lifestyle. Could be the idea of valet parking and concierge service, could be the idea of an expansive gym and spa facility, could be the idea of high ceilings and a big outdoor spaces, or it might be as simple as an oversized dining room area with lots of room to stretch a table so the whole family can be together for holidays.
Once we understand this, we can identify what does and doesn’t work for you. The Aston is one of those projects that ticks a lot of these boxes. That’s part of the reason Hazelton is involved in this, we feel it addresses all the luxuries on the wish list. That’s a huge luxury!
Mark Keast has been a journalist for three decades, starting out as a sports writer and editor for one of Toronto’s largest daily newspapers. Recently he has moved into writing on luxury cars, travel, and Toronto luxury real estate. He owns real estate in downtown Toronto as well, so there’s a vested interest there. Mark spends a lot of his work time connecting with realtors and developers across Canada, staying on top of industry developments.
Check out his stories, and email him direct at mkeast@regardingluxury.com
