April 27, 2010
A study conducted by Re/max saw luxury homes sales jump in the first quarter of 2010, showing that affluent purchasers are moving to take advantage of favourable market conditions.
The study showed that nine out of the 13 markets examined had shattered records and set all-time highs for first quarter activity in the upper end.
According to Re/Max, an improved economy, increased personal wealth, immigration and foreign investment all contributed to the influx in sales.
Greater Vancouver topped the entry-level price point for high-end homes at $2 million dollars, followed by Greater Toronto and Montreal at $1.5 million dollars.
Source: brokernews.ca
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