April 22, 2022

Inflation and a favourable interest rate environment continue to boost demand for Canadian real estate as an investment vehicle. Toronto is particularly affected by this phenomenon. Sales of luxury condominiums over $1 million increased by 120% in the Greater Toronto Area and 72% in the City of Toronto during the spring market.

Residential real estate transactions over $4 million were up 30% annually during Q1 2022 due to robust consumer confidence and sustained demand.

With relaxed pandemic-era restrictions that have fueled urbanization, 2022 saw a surge in momentum to the already burgeoning market. As renovations and new construction adapt to increasingly elevated tastes of cosmopolitan, ultra-high-net-worth and mostly local buyers, the region continues to set the bar for ultra-luxury condominium design, architectural excellence, smart home technology, amenities, and services for Canada.

The demand for top-tier single-family housing in the GTA continued to exceed supply in the early months of 2022, as bidding wars and price increases escalated.

If Condo living is in your goals list for this year? Don’t hold back, contact me The Penthouse Queen for tips, and actually get you a home this year. My 15 years experience will combine with today’s market to make sure you get what you want for top dollar!

Credit: CMP Mag