Toronto Is the World’s Hottest Luxury Real Estate Market
Toronto is the world’s "hottest" luxury market, the only city in a just-released study by Christie’s International Real Estate to see a 37% spike in luxury home sales last year versus 2013. The study says $3M US is the starting point for high-end real estate in the city (the above abode at 28 Park Lane Circle in the Bridle Path is listed for $10.5M). Toronto also boasts the fastest turnaround time for luxe home sales: the average posh pad here was snapped up a mere 31 days after going on the block (vs 87 days in New York). But price doesn’t necessarily indicate quality. Christie’s notes extremely low supplies of homes in TO means that “relatively average homes” are priced as high as $2M.