Location, location, location has always dictated the real estate prices in Toronto. Competition is fierce and everyone is looking for a way to lure in the moneyed set. It seems that Toronto condo builders have found a hook, and that hook is culture.

High priced condominiums and culture are truly a match made in heaven and driving the cost of living in Toronto in a downtown condo higher and higher. Condo projects that are near museums, concert halls, or cultural events are selling like proverbial hotcakes in spite of price tags that can extend well into the millions of dollars.

There is a certain element of the population that wants a connection with culture even if all that they are going to do is look at it. It does offer a certain cache, doesn’t it? A new high-rise condo is being built directly across the street from the new ROM expansion and yet another is slated to go up next to the Sony Centre. However, the most prestigious and sought after of the new projects on the books may be the Festival Tower which will be going up alongside the new home of the Toronto International Film Festival, located at the corner of King St. and John St. Privileges of living in the Festival Tower will include being first in line for festival tickets.

Would you choose to buy a condominium because of its proximity to a museum or the film festival? Is this really any different that buying a place on a golf course?