Luxury condo sales keep smashing records as rest of housing market cools.

Original article via Financial Post. Click here to read.

A $20 million (US$16 million) penthouse with views of downtown Toronto and Lake Ontario helped luxury condominiums shatter sales records in Canada last year, bucking a cooling trend in the rest of the housing market.

The 7,000-square-foot (650-square-metre) residence in the city’s Bloor Street area was the most expensive condo sold in the country in 2017, according to Sotheby’s International Realty Canada. Sales of condos with a price tag above $1 million surged 59 per cent in Toronto, 27 per cent in Vancouver and 49 per cent in Montreal.

 

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