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Peerage Realty acquires majority stake in Four Seasons Sotheby s
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Sale of Iconic Belmont Estate by Sotheby s International Realty Canada Breaks Greater Vancouver Real Estate Record | Business
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By the middle of 2021, nearly 1,700 single-family home sales had sold over $1 million, up 94% year-over-year, with 49% of homes selling above the list price.
As of last month, the benchmark prices for a single-family home in Vancouver West increased by 12.4% year-over-year to $3.458 million, while the same home type in Vancouver East increased by 16.3% year-over-year to $1.697 million.
Upscale condominium sales also resurged over the first six months of 2021, regaining the ground lost last year due to the pandemic. During this period, luxury condominium sales over $4 million more than doubled with a 138% year-over-year increase, and sales between $2 million and $4 million increased by 87% year-over-year.
Analysts attribute this activity to historically low-interest rates, pandemic-influenced changes in housing desires and needs, and long-term confidence in Vancouver’s real estate market. The resurgence in sales volumes accelerated soon after the start of the provincial governmen
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The relentless march of Canadaâs luxury real estate market continues to see strength as multi-million dollar home sales smash records.
Toronto led the charge with a 400 per cent increase in attached home sales worth over $4 million dollars since last year, according to a report from luxury real estate firm Sothebyâs International Canada. In Vancouver, there was a similar frenetic pace in these types of home sales, seeing a boost of 300 per cent year-over-year.
Montrealâs market also impressed the firm, managing to break Sothebyâs all-time condo sale price record with a $12.9 million penthouse at de la Montagne and Sherbrooke.
Canada’s luxury real estate market is on fire. Can the foreign homebuyers’ tax cool it? Erica Alini © Photo: Sotheby s International Realty Canada The recent sale of a $12.9-million penthouse at the Ritz-Carlton Residences in Montreal was the priciest on record for condominiums sold through Multiple Listing Service system in Quebec.
Canada s pandemic real estate craze goes all the way to the top, according to new data compiled by Sotheby’s International Realty Canada.
The report, which tracks sales of properties priced over $1 million, $4 million and $10 million, shows triple-digit growth in major cities across Canada in terms of the number of luxury homes and condos that switched hands in the first half of 2021 compared to the first half of 2020.
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