Real Estate
Mansion Sales Surge 240% in Vancouver, Canada’s Hottest Market
- Low rates, demand for more space, soaring stocks fuel gains
- Some luxury buyers keep old homes, slowing turnover: Sotheby’s
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Even the ultra-wealthy are finding they’re not immune to Canada’s housing shortage, and nowhere is that truer than in the country’s most expensive major market, Vancouver.
Luxury real estate in the city broke local records last year, with sales of mansions priced over C$10 million ($7.9 million) growing 240%, faster than anywhere else in Canada, according to a report Wednesday by Sotheby’s International. Toronto wasn’t far behind with 238% growth.