680News staff 2010/04/26
A new ReMax survey has found sales of luxury homes are soaring so far this year.
The study of real estate in 13 major Canadian centres points to improved economic performance, increased personal wealth, immigration and foreign investment all contributed to a big boost in sales between January and March.
Sales compared to last year, which was in the midst of the recession, are up 263 per cent in the Greater Toronto Area. In Kelowna, sales are up 700 per cent.
A high-end home in Toronto is now defined as being listed for $1.5-million.