Toronto is the world's hottest luxury real estate market
Toronto's luxury real estate market is the strongest in the world, according to a report from Christie's International Real Estate. Where other luxury markets across the globe are shrinking, our fair city was the lone one to show an increase in the rate of luxury home sales in 2014.
The report, which will be of most interest to the 1%, ranks the top property markets in the world. New York, San Francisco, Miami, Los Angeles, Dubai, London, Paris and Sydney all showed slower sales in 2014, where Toronto was up by 37 per cent. Yes, the real estate market in this city is raging bull, from the top the bottom.
Apparently the only factor that prevented 2014 from being the best year on record for the Toronto market was inventory. If there had been more homes available to sell, analysts say the market would have shattered previous records. I guess you're going to have to reconsider that mansion you have on your wish list.
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