According to international news source,The Telegraph, “Toronto is towering above the rest of the world’s luxury property markets, as the only city to record an acceleration in the sales rate of high-end homes from 2013 to 2014.
The Canadian city, well known for its economic stability, experienced a 37% increase in the sale of luxury penthouses, apartments and houses in the 12 months to the end of December, after just a 4% rise in the previous year, outstripping San Francisco, Sydney and Miami, according to a report from Christie’s international real estate group.
The study, which ranks the top 10 urban centres by the growth in sales of exclusive properties, found that the rate also slowed in Los Angeles, New York and Paris, while transactions declined in London, Dubai and Hong Kong last year.”
“This is one of the most stable financial and governmental systems in the world. It’s the major economic hub in Canada, with a net influx of people and an incredible rate of growth. The perception is it’s a safe place to invest, still relatively cheap, with an attractive rate of return.”
– Dan Conn, chief executive of Christie’s international real estate practice.
Article via – The Telegraph
– Chip Barkel, MCNE, SRES, Toronto Real Estate. Extraordinary Service. Top Results.