Based on recent collected data, the luxury housing market is not seeing any slow downs any time in the near future. Sales for ‘Luxury homes’ are that of 75% higher than that of ‘average home’ sales. One of the biggest cities in Canada, Vancouver, had an increase of ‘luxury home’ sales up to that of 36% based on comparables from 2012 to 2013. In the city of Toronto, ‘luxury home’ sales were up by 18% compared to 2012. The most expensive home sold in 2013 was located in the city’s bridle path neighborhood for 13.4 million with a boastful 21,000 sq ft of room. All research information was collected by ReMax.
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