High-end homes sales climb in Toronto, Vancouver in 2015: report

The Canadian Press
TORONTO - A new report says sales of homes worth $1 million or more heated up in Toronto and Vancouver last year as the low loonie fuelled demand from foreign buyers.

The report from Sotheby's International Realty Canada says sales of homes worth $1 million or more in the Greater Toronto Area rose 48 per cent in 2015 from the previous year.

In Vancouver, there were 46 per cent more homes over the $1 million sold last year compared with 2014.

The realtor says sales of homes worth more than $4 million grew the most - in Vancouver by 67 per cent, and in Toronto by 71 per cent.

But after years of growth, Calgary's high-end housing market declined last year as the downturn in the oilpatch hurt consumer confidence.

The Sotheby's report says sales of homes over $1 million fell 41 per cent in Alberta's largest city in 2015 compared with the previous year.

Quote:But after years of growth, Calgary's high-end housing market declined last year as the downturn in the oilpatch hurt consumer confidence.

The Sotheby's report says sales of homes over $1 million fell 41 per cent in Alberta's largest city in 2015 compared with the previous year.

OIL PRICES TOO LOW.  IF DEH REMAIN LOW ALBERTA IMPLODES!

a lot of the crooks/parasites and their families also running from their home countries in fear of revolution.  Canada has always been haven for those kinds.

a sure if we could see there would be a Turkish stream from the Erdogans setting up a safe space just in case ::LOL:: ::LOL:: ::LOL:: ::LOL::

Its all money laundering ! Former PM Harper was to use the Australia model :

to curb the Mob money investors !

[quote author=The Chairman link=topic=102076.msg673085#msg673085 date=1452181330]
as the low loonie fuelled demand from foreign buyers.
[/quote]

[quote author=ketchim link=topic=102076.msg673095#msg673095 date=1452184640]
Its all money laundering ! Former PM Harper was to use the Australia model :

to curb the Mob money investors !

[/quote]

yes!  that too! ::LOL:: ::LOL:: ::LOL:: ::LOL::

http://www.conservative.ca/prime-ministe...eowners-2/

Some estimate that as many as 15 percent of condos in Vancouver sit empty year round –

owned by real estate speculators who only benefit when the price of homes rise.

Residents and aspiring home owners in cities like Vancouver and Toronto have regularly expressed

frustration with foreign buyers who buy up available homes, and leave them vacant.  >

Australia, have put in place regulations that limit the ability of foreign buyers to purchase existing omes

for investment purposes,but permit foreign investment that results in the construction of new homes.

Foreign individuals residing temporarily in Australia may purchase an existing home,

provided that they live in it while in the country

and sell it when they leave. 

At the centre of the Australian model is the principle that foreign investment in residential real estate

should increase Australia’s housing stock. 8)

[quote author=mapoui link=topic=102076.msg673098#msg673098 date=1452185409]
yes!  that too! ::LOL:: ::LOL:: ::LOL:: ::LOL::

[/quote]


I mean the money laundering.  the Oz plans appear to be good