What Housing Crisis? Uber-Luxury Properties Sizzle in Cooler Market

Original article via The Toronto Star. Click here to read.

It’s a tiny slice of Toronto’s overall market, but luxury real estate is on fire, with a 62.5% increase in Toronto-area properties selling for more than $4 million. And that housing foreign buyers tax? It “hasn’t slowed them down at all.”

They are not like the rest of us. They are not troubled or dissuaded by the weekly or monthly dips and spikes of the Toronto housing market.

Buyers of luxury real estate have a deeper understanding of the long-term value in the market, or they simply don’t have to look at the price as carefully, say realtors specializing in high-end properties.

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