Interest in Vancouver Luxury Homes Increases 48%

Are we really that loaded or did people suddenly find a new line of credit? Whatever the case, Remax says that sales of upper end homes in Vancouver have increased 48% compared to the same time last year. Luxury home have become quite the hot commodity in Vancouver, but it seems that this interest is not restricted to our fair city.

In fact, other Canadian cities seem to be undergoing the same spike with some towns getting spikes as high as 521%. Where the threshold for comparison lies, however, is quite different.

The line drawn in the sand for Vancouver is set at $2 million. Anything priced above that can be considered "upper end." By contrast, a home priced at $350,000 in Halifax is considered to be a luxury home. For that price, you can barely get a two bedroom condo around these parts (and definitely not downtown)!

Source: CKNW

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