Somewhat surprising article from UK Telegraph but good economic trend they investigated. Read whole article here but below is a snippet.
Toronto is towering above the rest of the world’s luxury property markets, as the only city to record an acceleration in the sales rate of high-end homes from 2013 to 2014.
The Canadian city, well known for its economic stability, experienced a 37pc increase in the sale of luxury penthouses, apartments and houses in the 12 months to the end of December, after just a 4pc rise in the previous year, outstripping San Francisco, Sydney and Miami, according to a report from Christie’s international real estate group.
The study, which ranks the top 10 urban centres by the growth in sales of exclusive properties, found that the rate also slowed in Los Angeles, New York and Paris, while transactions declined in London, Dubai and Hong Kong last year.