A new study... says Toronto’s luxury sales activity makes it the second hottest market in the world, according to an article published today by "Financial Post". Sales in the so-called luxury segment of the market in Canada’s largest city were up 48 per cent from a year ago, playing it just behind Aukland, New Zealand on the list of 100 markets surveyed.
Toronto’s turbocharged luxury market continues to be a function of fairly short supply and steadily increasing demand...
For the purposes of the study, the “luxury real estate” market in Toronto was defined as properties that sold for US$3 million or more...
...Canada remains an attractive country for luxury property buyers, despite rising prices.
“Strong governmental, banking and investment systems, favorable migration trends, leading educational institutions and stable employment have all caused our market to defy the decline that other marketplaces are experiencing in terms of sales volume and average prices,” ...
For the entire article, please use this Link: http://business.financialpost.com/personal-finance/mortgages-real-estate/toronto-luxury-sales-finish-second-in-the-world-in-2015-says-new-study
