Luxury condos surge in value
Well, this is definitely a must read for those of you who have been investing or looking to invest in the luxury condominium category. In this article, I will provide you the updates for both Toronto and Montreal because the market is on the rise. Let us dive into the numbers, according to a luxury housing market report shows that condo markets in Canada’s two largest cities appreciated to 10.2% and 8.4%, respectively. In other words, the average price in Toronto reached $2,268,571, and in Montreal it rose to $1,295,401. Although there has been an increase in value for the condo’s, the market for luxury detached houses in Toronto faced with a significant 40% drop in sales. During the aforementioned period, luxury condominium has an average of $2,680,064.…
