STUDY: T.O. LUXURY REAL ESTATE MARKET 2ND HOTTEST ANYWHERE

May 12, 2016

By Bob Komsic

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THE REAL ESTATE MARKET AMONG THE WELL TO DO IN TORONTO IS THE SECOND HOTTEST IN THE WORLD.
T.O. Luxury Homes
CHRISTIE’S INTERNATIONAL REAL ESTATE SAYS SALES IN THE SO-CALLED LUXURY SEGMENT WERE UP 48% LAST YEAR.
ONLY AUCKLAND, NEW ZEALAND WAS MORE ACTIVE UP 63%.
TORONTO’S NOT THE ONLY CANADIAN CITY TO MAKE THE LIST AS VICTORIA WAS THIRD IN SALES UP 45%.
THE STUDY DEFINED THE LUXURY REAL ESTATE MARKET IN TORONTO AS PROPERTIES THAT WENT FOR $3-MILLION U.S. OR  MORE, WHICH COMPARES WITH THE GLOBAL STARTING POINT OF $2.2-MILLION U.S.
Forest Hill
CHRISTIE’S SAYS A SHORTAGE OF PROPERTIES FOR SALE IS KEEPING TORONTO HOT.
IT’S ALSO FORCING BUYERS INTO MARKETS OUTSIDE TORONTO LIKE HAMILTON AND COLLINGWOOD WHERE PEOPLE ARE BUYING HOMES FOR ONE-THIRD OF THE PRICE IN TORONTO.
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