September 10, 2014
High-end properties in metro Vancouver’s hot housing market is scorching! Properties selling for $3-million or higher have surged 35 per cent in the Vancouver region, defying predictions of a slowdown after Ottawa shut down the federal immigrant investor program in February. At the pace of sales volume so far this year, the luxury real estate market in the area will smash the record of 691 homes that sold for $3-million or higher in 2011.
In the first eight months of this year, there were 572 properties in Metro Vancouver that sold for at least $3-million, including 135 homes for $5-million or more, according to Macdonald Realty Group’s compilation of statistics from local real estate boards. In contrast, there were 422 properties that changed hands for $3-million or higher in the first eight months of 2013, including 112 homes that sold for at least $5-million. Read more