🏠 Canadian Luxury Real Estate Markets Show Strong and Stable Growth
Sunday, 30 July 2023 10:19.AM
- Engel & Völkers reports Canada's foreign buyer ban is affecting high-profile athletes and executives -
Engel & Völkers released its 2023 Mid-Year Canadian Luxury Real Estate Market Report today. Amidst economic uncertainty, fluctuating interest rates and forecasts of recession, Canada's most sought after premium markets are not faltering. Across the country, the story is one of market stability and sustained demand for a shrinking pool of property. The report features key findings based on data for homes priced over $1 million in Canada's most in-demand metropolitan real estate markets — Halifax, Montréal, Ottawa, Toronto and Vancouver.
The foreign buyer ban is affecting high-profile athletes and executives, who are essentially being forced to rent. In the long run, this could negatively affect high-stakes talent acquisition in Canada. Boomers who were expected to downsize are staying put due to a lack of appropriate rental and buying opportunities. Homes are now being viewed as generational assets, new for Canada. Shovel-ready land and labour shortages are being seen in key Canadian cities and this will continue to affect real estate supply for years to come.
"Premium markets are proving their resiliency to market fluctuations, showing steady growth and stability. This is in part due to sellers holding off on listing properties while real estate markets return to typical seasonal patterns," says Anthony Hitt, president and CEO, Engel & Völkers Americas. "Quality inventory on the market has sold quickly, with homes commanding multiple offers, despite the current climate. Interest rate changes have had negligible effects on premium markets because buyers tend to pay a large portion of home equity up front. The availability of luxury real estate in Canada continues to shrink and Engel & Völkers will be watching this imbalance."
Halifax's luxury market has significantly grown since last year. As of June 2023, single-family homes over $1 million comprise close to 10 per cent of the market, compared to 4.6 per cent for all of 2022.
Montréal's Westmount and Outremont neighbourhoods see home values grow by nearly $1 million over a 10 year period.
Ottawa's premium market prices ticked up by three per cent for homes valued between $1 - 3.99 million from January to June.
Toronto's average sold price in June for residential class homes priced between $1 - 3.99 million grew by 3.7 per cent compared to January.
Vancouver seller's 'sit and wait' attitude sees average home prices in the $1 - 3.99 million segment dip by only 5.59 per cent from February 2022's high-point, signaling a resilient market.
SOURCE: Engel & Völkers
-
Related materials:
- 07-Aug-2024 10:24 AM ONTARIO 💵🏠 Ontario’s Water Infrastructure Investments Helping Build More Than 500,000 New Homes
- 30-Jul-2024 02:26 PM ONTARIO 🏠 Ontario Helping to Create More Than 1,000 New Student Housing Spaces in London
- 25-Jul-2024 12:00 PM 🏠 Protecting Homebuyers and Investors by Ensuring Mortgage Professionals are Suitable to Be Licensed
- 25-Jul-2024 10:23 AM 🇨🇦🍁🏠 Government of Canada's New Canada Green Buildings Strategy: A Plan to Help Canadians Save Money on Their Energy Bills 💚💵
- 02-Apr-2024 06:43 PM 🏗️ Apartment Construction Sustains Housing Starts in Canada's Largest Cities
- 14-Mar-2024 10:09 PM 🏡 2024 National Home Show 👵👴👪 (4K HDR, images)
- 14-Mar-2024 09:12 PM 🏡 2024 National Home Show 👵👴👪
- 12-Mar-2024 12:04 AM 🏡 2024 National Home Show 2024. Feature House. Bonneville Homes 👵👴👪 (4K HDR, images)
- 11-Mar-2024 11:07 PM 🏡 2024 National HomeShow. Feature House. Bonneville Homes 👵👴👪
- 24-Jan-2024 12:15 PM 🛋️💡🎨 IDS 2024. 25th Anniversary. Walking Tour 🏠🚶 (4K HDR, images)
- 24-Jan-2024 11:18 AM 🛋️💡🎨 IDS 2024. 25th Ananiversary. Walking Tour 🏠🚶
- 12-Mar-2018 10:12 PM 2018 National Home Show. The Angeline Dream Home (4K, images)
- 12-Mar-2018 10:00 PM 🏡 2018 National Home Show. The Angeline Dream Home
- 12-Mar-2018 01:00 AM 🚗 2018 Canadian International AutoShow. Best Buy Smart Home Exposure
- 11-Mar-2018 11:46 PM 2018 National Home Show. Best Buy Smart Home (4K, images)
- 16-Mar-2017 07:24 PM 2017 National Home Show. Future Dream Home (4K, images)
- 16-Mar-2017 02:00 PM 🏡🌸 2017 National Home Show. Future Dream Home
- 25-Feb-2010 04:03 PM 2010 National Home Show. Urban Barn Ex (HD, images)
- 25-Feb-2010 03:50 PM 2010 National Home Show. Gardens of the World (HD, images)
- 25-Feb-2010 03:30 PM 2010 National Home Show. Green Apple Landscaping Ex (HD, images)
- 25-Feb-2010 03:18 PM 2010 National Home Show. Quality Homes Ex (HD, images)
- 23-Feb-2010 09:40 PM 🏡 2010 National Home Show. Urban Barn
- 22-Feb-2010 02:01 PM 🏡👨🌾✂️🌳 2010 National Home Show. Gardens
- 21-Feb-2010 11:26 AM 🏡 2010 National Home Show. Green Apple Landscaping
- 21-Feb-2010 10:29 AM 🏡 2010 National Home Show. QHomes
- 13-Oct-2009 07:36 PM 🏘️🏠🍂 2009 Fall International Home Show. EcoGreen Homes
- 13-Oct-2009 05:37 PM 🏘️🏠🍂 2009 Fall International Home Show. QHomes
- 10-Oct-2009 08:35 PM 2009 International Home & Garden Shows. Quality Homes Ex (HD, images)
- 10-Oct-2009 08:34 PM 2009 International Home & Garden Shows. EcoGreenHomes Ex (HD, images)
- 26-Apr-2009 12:07 PM 🏡🏡 2009 Metro Home Show. TySPACE!
- 16-Apr-2009 01:32 PM 🏡🏡 2009 Metro Home Show. canaroma
- 13-Apr-2009 08:41 PM 2009 Metro Home Show. ty Pennington Style Ex (HD, images)
- 13-Apr-2009 08:38 PM 2009 Metro Home Show. Canaroma Bath and Tile Ex (HD, images)
- 13-Apr-2009 06:50 PM 🏡🏡 2009 Metro Home Show. Airider
- 13-Apr-2009 06:50 PM 2009 Metro Home Show: Airider Vacuum Cleaner (HD, images)
- 13-Apr-2009 06:45 PM 2009 Metro Home Show. Live in Beauty Ex (HD, images)
- 13-Apr-2009 06:40 PM 2009 Metro Home Show. Culligan Clear Water Ex (HD, images)
- 12-Apr-2009 08:01 AM 🏡🏡 2009 Metro Home Show. Live In Beauty
- 11-Apr-2009 03:03 PM 🏡🏡 2009 Metro Home Show. Culligan – Clear Water
- 30-Mar-2009 04:50 PM 🏘️🏠 2009 International Home Show. Flying Jewels – 50-th Anniversary
- 29-Mar-2009 04:17 AM 🏘️🏠 2009 International Home Show. Birthday Party
- 24-Mar-2009 09:33 PM 2009 International Home & Garden Shows. Family Pet Ex (HD, images)
- 24-Mar-2009 09:33 PM 2009 International Home & Garden Shows. Family Sport and Game Centre (HD, images)
- 24-Mar-2009 09:33 PM 2009 International Home Show: Birthday Party (HD, images)
- 24-Mar-2009 06:33 PM 🏘️🏠 2009 International Home Show. Dream Home - Zero Mortgage Event
- 24-Mar-2009 12:32 PM 2009 International Home Show: Elegant Evenings (HD, images)
- 24-Mar-2009 11:31 AM 🏘️🏠 2009 International Home Show. Elegant Evenings
- 22-Mar-2009 05:56 AM 👨🌾✂️🌳 2009 Successful Gardening Sho. Family Sport and Game Centre
- 20-Mar-2009 05:55 AM 👨🌾✂️🌳 2009 Successful Gardening Show. Family Pet
- 18-Mar-2009 12:02 PM 2009 International Home Show: Flying Jewels - Spectacular Butterflies and Moths Ex - 50-th Anniversary (HD, images)
- 18-Mar-2009 05:54 AM 🏘️🏠 2009 International Home & Garden Show 2009. В Торонто открывается выставка домов и цветов
- 28-Feb-2009 04:45 AM 2009 National Home Show: Dream Home #3 (HD, images)
- 28-Feb-2009 03:45 AM 2009 National Home Show: Dream Home #2 (HD, images)
- 28-Feb-2009 12:41 AM 🏡 2009 National Home Show. Dream Home
- 27-Feb-2009 03:55 PM 2009 National Home Show: Dream Home Ex (HD, images)
- 25-Feb-2009 08:06 AM 2009 National Home Show: Dream Gardens. Oasis #3 (HD, images)
- 24-Feb-2009 08:23 PM 2009 National Home Show: Oasis Dream Gardens Ex (HD, images)
- 24-Feb-2009 03:11 AM 🏡 2009 National Home Show: Garden Falls, Fountains and Sculptures
- 23-Feb-2009 09:05 PM 2009 National Home Show: Garden Falls, Fountains, and Sculptures (HD, images)
- 23-Feb-2009 02:04 AM 2009 National Home Show: Dream Gardens. Oasis #1 (HD, images)
- 23-Feb-2009 01:03 AM 🏡 2009 National Home Show: Dream Gardens
- 22-Feb-2009 09:33 PM 2009 National Home Show: Dream Home - Zero Mortgage Event (HD, images)
- 22-Feb-2009 05:04 PM 2009 National Home Show: tySTYLE #2 (HD, images)
- 22-Feb-2009 01:03 PM 2009 National Home Show: tySTYLE #1 (HD, images)
- 22-Feb-2009 10:01 AM 🏡 2009 National Home Show: tySTYLE
- 24-Oct-2008 11:54 AM 2008 Style at Home Show: Accessories (HD, images)
- 24-Oct-2008 11:53 AM 2008 Style at Home Show: Furniture Collections (HD, images)
- 24-Oct-2008 06:15 AM 2008 Style at Home Show: For the First Time in Toronto (HD, images)
- 24-Oct-2008 06:13 AM 🏘️🏘️ 2008 Style at Home Show. For the First Time in Toronto
- 24-Oct-2008 03:15 AM 2008 Style at Home Show: IKEA Collection (HD, images)
- 22-Oct-2008 06:38 PM 🏘️🏘️ 2008 Style at Home Show: IKEA Collection
- 12-Oct-2008 12:53 PM 2008 International Home Show: Canuhome (images)
- 12-Oct-2008 11:28 AM 2008 International Home Show: Quality Home (images)
- 12-Oct-2008 08:30 AM 2008 International Home Show: Ashley Collection (images)
- 12-Oct-2008 03:13 AM 2008 International Home Show: Small Space Living Collection (images)
- 12-Oct-2008 01:24 AM 2008 International Home Show Presents (images)
- 12-Oct-2008 12:22 AM 🏘️🏠 2008 International Home Show. Opening
- 24-Sep-2008 07:28 PM 2008 Fall Home Show: I Love My House Ex (HD, images)
- 24-Sep-2008 07:28 PM 2008 Fall Home Show: ecopods Ex (HD, images)
- 24-Sep-2008 07:28 PM 2008 Fall Home Show: CWD Furniture Collection (images)
- 24-Sep-2008 07:18 PM 2008 Fall Home Show: EQ3 Furniture Collection (images)
- 24-Sep-2008 07:09 PM 2008 Fall Home Show: Canorama Bath and Toilet Collection (images)
- 24-Sep-2008 07:03 PM 2008 Fall Home Show: General (images)
- 24-Sep-2008 07:01 PM 2008 Fall Home Show: Dream Spaces (images)
- 23-Sep-2008 08:06 AM 2008 Fall Home Show: Planika Biofireplaces (images)
- 23-Sep-2008 06:05 AM 🏡🍂 2008 Fall Home Show. Planika Biofireplaces
- 23-Sep-2008 03:03 AM 2008 Fall Home Show: Home + Style (images)
- 23-Sep-2008 02:01 AM 🏡🍂 2008 Fall Home Show. Home + Style
- 21-Sep-2008 05:01 PM 🏡🍂 2008 Fall Home Show. I Love My House
- 20-Sep-2008 09:32 AM 🏡🍂 2008 Fall Home Show. Ecopod – Мобильное Портативное Жилье
- 15-Apr-2008 04:34 AM 🏡🌸 2008 National Home Show Spring. Plant Stand
- 11-Apr-2008 12:19 AM 2008 National Home Show, Spring: Plant Stand Ex (HD, images)
- 11-Apr-2008 12:15 AM 2008 National Home Show, Spring: Equal Design Ex (HD, images)
- 11-Apr-2008 12:11 AM 2008 National Home Show, Spring: Miche Bags Ex (HD, images)
- 11-Apr-2008 12:10 AM 2008 National Home Show, Spring: Miche Bags Ex (SD, images)
- 11-Apr-2008 12:09 AM 🏡🌸 2008 National Home Show Spring. Miche Bags
- 11-Apr-2008 12:02 AM 2008 National Home Show, Spring: IKEA Kitchen Collection (SD, images)
- 11-Apr-2008 12:01 AM 🏡🌸 2008 National Home Show Spring. IKEA Kitchen Collection
- 10-Apr-2008 12:24 PM 2008 National Home Show, Spring #3 (images)
- 10-Apr-2008 12:20 AM 🏡🌸 2008 National Home Show Spring. Gallery New
- 09-Apr-2008 12:20 AM 2008 National Home Show, Spring #1 (SD, images)
- 09-Apr-2008 12:10 AM 🏡🌸 2008 National Home Show Spring. Готовим дом к весне
- 14-Mar-2008 11:21 AM 2008 International Home Show: Floral and Plant Competition (images)
- 13-Mar-2008 11:20 AM 2008 International Home Show: Maia Temple (images)
- 10-Mar-2008 11:03 AM 2008 International Home Show: Flight of Fancy (images)
- 10-Mar-2008 11:01 AM 2008 International Home Show: International Dining (images)
- 10-Mar-2008 10:34 AM 2008 International Home Show: A Touch of the East (images)
- 10-Mar-2008 10:31 AM 2008 International Home Show: Take a Dive (images)
- 10-Mar-2008 10:30 AM 2008 International Home Show: Sentimental Journey (images)
- 10-Mar-2008 09:43 AM 2008 International Home Show: Andrew Richard Furniture Collection (images)
- 10-Mar-2008 08:34 AM 2008 International Home Show: Outer Space (images)
- 10-Mar-2008 08:03 AM 2008 International Home Show: Follow the Sun (images)
- 10-Mar-2008 08:02 AM 2008 International Home Show: A View From Here (images)
- 10-Mar-2008 08:01 AM 2008 International Home Show: A Walk on the Wild Side (images)
- 10-Mar-2008 01:42 AM 2008 International Home Show: Jordan Cast Furniture Collection (images)
- 10-Mar-2008 12:02 AM 👨🌾✂️🌳 2008 Successful Gardening Show. Праздник цветов
- 09-Mar-2008 12:41 AM 2008 International Home Show: Casalife Furniture Collection (images)
- 07-Mar-2008 10:59 PM 2008 International Home Show: Landscapes (images)
- 07-Mar-2008 10:31 PM 2008 International Home Show: Clareville Kitchen (images)
- 07-Mar-2008 09:01 PM 2008 International Home Show: Classic Rattan (images)
- 07-Mar-2008 08:59 PM 2008 International Home Show: Stoney Creek Furniture (images)
- 07-Mar-2008 08:40 PM 🏘️🏠 2008 International Home Show. Ландшафты и дома
- 07-Mar-2008 08:39 PM 2008 International Home Show: Ashley Collection (images)
- 07-Mar-2008 08:37 PM 2008 International Home Show: Preview (images)
- 07-Mar-2008 08:24 PM 🏘️🏠 2008 International Home & Garden Show открылось в Торонто
- 20-Jan-2008 06:30 PM 🏡🏡 2008 Metro Home Show. EQ3 Collection
- 20-Jan-2008 06:30 PM 2008 🌿🌸🏡 Metro Home Show: EQ3 Collection (images)
- 20-Jan-2008 12:40 PM 🏡🏡 2008 Metro Home Show. Canaroma Collection
- 20-Jan-2008 12:40 PM 2008 🌿🌸🏡 Metro Home Show: Canaroma Collection (images)
- 20-Jan-2008 12:20 AM 2008 🌿🌸🏡 Metro Home Show: Casalife Furniture Collection (images)
- 20-Jan-2008 12:01 AM 2008 🌿🌸🏡 Metro Home Show: New Trends in Home Decor (images)
- 19-Jan-2008 12:30 AM 🏡🏡 2008 Metro Home Show. Casalife Furniture Collection
- 19-Jan-2008 12:12 AM 🎄❄️🎅 2007 Seasons Christmas Show. Новые тенденции домашнего декора
- 08-Oct-2007 11:38 AM 🏘️🏠 2007 Toronto International Home Show. Электрический мотоцикл – альтернативное средство транспорта
- 08-Oct-2007 11:38 AM 2007 🌿🌸🏡 Toronto International Home Show: E-Bike Veloteq (images)
- 06-Oct-2007 09:04 PM 2007 🌿🌸🏡 Toronto International Home Show: Living Wall (images)
- 06-Oct-2007 07:04 PM 2007 🌿🌸🏡 Toronto International Home Show: Carion Fenn Interiors (images)
- 06-Oct-2007 06:03 PM 2007 🌿🌸🏡 Toronto International Home Show: Casalife Furniture/Accessories Collection (images)
- 06-Oct-2007 04:02 PM 2007 🌿🌸🏡 Toronto International Home Show: Quality Home (images)
- 06-Oct-2007 03:02 PM 2007 🌿🌸🏡 Toronto International Home Show: Stone Creek Furniture Collection (images)
- 06-Oct-2007 02:01 PM 2007 🌿🌸🏡 Toronto International Home Show: Ashley Collection (images)
- 06-Oct-2007 01:01 PM 🏘️🏠 2007 Toronto International Home Show. Жилье должно быть доступным, а строительство экологичным
- 05-Oct-2007 01:23 PM 🏘️🏠 2007 Toronto International Home Show. В Торонто стартует International Home Show
- 05-Oct-2007 01:23 PM 🏘️🏠 2007 Toronto International Home Show. Что посмотреть и послушать на выставке
- 15-Sep-2007 06:36 PM 🏡🍂 2007 Fall Home Show. Встреча с известными дизайнерами
- 15-Sep-2007 06:36 PM 2007 🌿🌸🏡 Fall Home Show: Entertaining (images)
- 15-Sep-2007 06:36 PM 2007 🌿🌸🏡 Fall Home Show: Interior Ideas (images)
- 15-Sep-2007 06:35 PM 🏡🍂 2007 Fall Home Show. В Торонто стартовала выставка 2007 Fall Home Show
- 20-Jan-2007 07:45 PM 2007 🏡 Metro Home Show: BARK-ALL Terrain Cabin (ATC) (images)
- 20-Jan-2007 07:44 PM 🏡🏡 2007 Metro Home Show. Крыши европейского дизайна от MG Arsenal Inc.
- 20-Jan-2007 06:44 PM 🏡🏡 2007 Metro Home Show. Обогреватели от ConvectAir
- 20-Jan-2007 05:43 PM 🏡🏡 2007 Metro Home Show. Экодизайн от Canadian Decorators and Designers
- 20-Jan-2007 04:02 PM 🏡🏡 2007 Metro Home Show. В Торонто открылось Metro Home Show
- 20-Jan-2007 02:12 PM 2007 🏡 Metro Home Show: Eco-friendly products and services (images)
- 10-Oct-2006 11:38 PM 2006 🌿🌸🏡 International Home Show (Fall 2006): Welcome (images)
- 10-Oct-2006 10:17 PM 2006 🌿🌸🏡 International Home Show (Fall 2006): Bath Collection (images)
- 10-Oct-2006 08:37 PM 2006 🌿🌸🏡 International Home Show (Fall 2006): Furniture Collections (images)
- 10-Oct-2006 02:37 PM 2006 🌿🌸🏡 International Home Show (Fall 2006): Patio Furniture (images)
- 10-Oct-2006 01:16 PM 🏘️🏠🍂 2006 International Fall Home Show. Декор Всегда Актуален
- 09-Oct-2006 12:53 AM 2006 🌿🌸🏡 International Home Show (Fall 2006): EcoSmart (images)
- 08-Oct-2006 02:11 AM 🏘️🏠🍂 2006 International Fall Home Show. Экологически Чистое Жилье – Основа Будущего
- 05-Oct-2006 07:41 PM 2006 🌿🌸🏡 Toronto Fall Home Show: Collections of Lamps (images)
- 04-Oct-2006 04:22 PM 🏡🍂 2006 Toronto Fall Home Show. Жители Большого Торонто Потратили в 2005 Году на Ремонт Жилья $4.6 Млрд
- 03-Oct-2006 02:18 PM 🏡🍂 2006 Toronto Fall Home Show. Сушим Одежду Натуральным Способом
- 02-Oct-2006 08:47 PM 🏡🍂 2006 Toronto Fall Home Show. Коллекции Светильников
- 30-Sep-2006 09:29 PM 2006 🌿🌸🏡 Toronto Fall Home Show: Destination Renovation (images)
- 30-Sep-2006 04:27 PM 2006 🌿🌸🏡 Toronto Fall Home Show: Beauty in Stone (images)
- 30-Sep-2006 04:19 PM 🏡🍂2006 Toronto Fall Home Show. Экслюзивная Мебель от Royal Home Furniture
- 30-Sep-2006 04:16 PM 🏡🍂 2006 Toronto Fall Home Show. Красота в Камне
- 30-Sep-2006 12:02 AM 🏘️🏠 2006 International Home Show. Opening
- 17-Apr-2006 11:57 PM 2006 🌿🌸🏡 National Home Show: Backyard Collection (images)
- 17-Apr-2006 11:57 PM 2006 🌿🌸🏡 National Home Show: Gardens (images)
- 17-Apr-2006 11:55 PM 2006 🌿🌸🏡 National Home Show: Oriental Charm (images)
- 17-Apr-2006 11:55 PM 2006 🌿🌸🏡 National Home Show: Bathrooms (images)
- 17-Apr-2006 11:54 PM 2006 🌿🌸🏡 National Home Show: Aquariums (images)
- 17-Apr-2006 11:44 PM 2006 🌿🌸🏡 National Home Show: Tables and Chairs (images)
- 13-Apr-2006 02:11 PM 2006 🌿🌸🏡 National Home Show: Homes and Home Equipment (images)
- 13-Apr-2006 11:59 AM 🏡 2006 National Home Show. Состояние индустрии жилой недвижимости в Торонто
- 12-Apr-2006 02:11 PM 2006 🌿🌸🏡 National Home Show: Lighting (images)
- 12-Apr-2006 11:59 AM 🏡 2006 National Home Show. Экономьте электроэнергию
- 11-Apr-2006 06:17 PM 2006 🌿🌸🏡 National Home Show: Others (images)
- 11-Apr-2006 04:06 PM 🏡 2006 National Home Show предлагает встречи со знаменитыми дизайнерами и мастерами
- 10-Apr-2006 01:49 AM 2006 🌿🌸🏡 National Home Show: NorthWest Kitchenware (images)
- 10-Apr-2006 12:18 AM 🏡 2006 National Home Show. NorthWest Kitchenware & Gifts - все для любителей и ценителей настоящего европейского кофе
- 09-Apr-2006 02:51 AM 2006 🌿🌸🏡 National Home Show: RIM Collection (images)
- 09-Apr-2006 02:47 AM 🏡 2006 National Home Show: RIM Collection - линия эксклюзивных товаров для ванн и туалетов
- 08-Apr-2006 01:16 PM 2006 🌿🌸🏡 National Home Show: Home Decor (images)
- 07-Apr-2006 01:45 AM 🏡 2006 National Home Show: Opening