28 January 2014
This teardown tendency causes real estate price increase and blur all the price boundaries for the luxury houses.
The second place goes to Calgary with a 34% sales growth, followed by Edmonton with its 32%.
In Toronto we saw a record 1,908 sales of luxury homes priced over $1.5 million. The annual increase is 18%.
Another interesting thing is that more buyers were competing for homes in such prestigious Toronto neighbourhoods as Rosedale, Forest Hill, Bridle Path, Lawrence Park and Hogg’s Hollow.
The real estate most people wanted to buy was single-detached homes – the most expensive property in this sector cost more than $13.4 million.
Meanwhile, the Hamilton-Burlington area showed 31% increase in sales of luxury homes priced at more than $750,000.