While Canada’s general real estate market is experiencing a cooldown, Toronto’s ultra-luxury sector is writing a different story altogether. High above the city streets, the penthouse and estate-level properties continue to attract elite buyers who value exclusivity, architectural excellence, and prime locations.
The $10M+ Market Is Thriving
According to Sotheby’s International Realty Canada’s Spring 2025 State of Luxury Report, the Greater Toronto Area saw five homes sell over $10 million in Q1 of 2025—compared to zero during the same period last year. Even more impressive, four of those sales were located within the city core, underscoring Toronto’s positioning as a global hub for high-net-worth real estate investment.
This signals a clear trend: the ultra-affluent are still buying, but they’re focused on prestige, discretion, and long-term value.
Demand in Legacy Neighborhoods Remains High
Even with broader residential sales slowing, elite pockets like Rosedale, Forest Hill, The Bridle Path, and Yorkville remain highly sought-after. Many transactions in these neighborhoods are increasingly happening off-market, driven by the need for privacy and exclusivity. At Penthouse Queen, we’re seeing a surge in private client interest for unlisted penthouse properties with exceptional finishes, views, and access to elite concierge services.
Off-Market Is the New Standard
The ultra-wealthy are leaning into off-market deals more than ever, opting out of MLS in favor of discreet transactions. This exclusivity is exactly what Penthouse Queen specializes in—bringing our clientele access to assets not publicly available.
Strategic Takeaway
Toronto continues to attract global capital—especially from investors hedging against inflation, currency fluctuations, and geopolitical instability. Ultra-luxury penthouses are seen not only as lifestyle statements but as tangible wealth preservation vehicles with generational value.
