Canada’s high-end home sales soar in first half of the year
The sale of properties above $1-million is up in Calgary, Toronto, Vancouver and Montreal over the first six months of the year compared to a year earlier.
Activity in the Canadian luxury home market continues to rise in the country’s four largest markets. The sale of properties above $1-million is up in four of the top real estate markets in Canada, over the first six months of the year compared to a year earlier.
Toronto and Vancouver led the way with a 34% increase in the sale of properties for $1-million plus. Single family homes continue to drive the luxury market along with record low mortgage interest rates.
The concern of a condo bubble was also noted to potentially be overblown, based on recent numbers that high-rise luxury condos sales are up 54% in Toronto this time of year compared to last. Vancouver luxury condo sales are also 37% higher.