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Inside this Lifestyle issue…
CITY
TOWN & COUNTRY
RECREATION
WATERFRONT
COVER IMAGE: LEUK is a beautifully natural European cosmopolitan serene lifestyle store in the heart of downtown Collingwood carrying fabulous upscale and current worldwide items in both home decor and men and ladies fashions. Also amazing floral designs and unique bed linens in their second location right next door. See us at... www.leukbijhermas.ca | info@leukbijhermas.ca | 705-446-2626
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ONTARIO’S RED HOT REAL ESTATE MARKET The Christie’s International Real Estate 2015 Luxury Defined report, revealed that Toronto was the only city in a list of 10 world class cities to have luxury home sales increase over the previous year. It was a dramatic increase of 37 percent. Toronto’s market was quickly coined as red hot. As the early 2016 market shows no sign of weakening, it can now aptly be labeled “scorching.” This scorching market has spread beyond the walls of Toronto creating multiple offers in the surrounding suburbs. The Luxury Defined report also threw the spotlight on Muskoka, labelling it the “Hampton’s Of The North” and bringing the world’s attention to Canadian cottage country. In 2014 Muskoka saw an increase in sales of luxury homes, especially in the $2 million+ range, which skyrocketed by 66 percent over the previous year.
A combination of a world class reputation, low levels of inventory, a growing population, and steady interest from foreign buyers keep the housing demands in Toronto high. Bidding wars continuously drive prices up and lightning-fast sales are common. In March 2016, there were 20 percent fewer active home listings than March 2015 and luxury home sales increased by 13 percent. The 2016 Luxury Defined report will be out later this month packed with global insights and real estate trends. To access the Luxury Defined report, please visit Christie’s online at www.christiesrealestate.com to download a copy. – Chris Kapches, CEO Chestnut Park Real Estate Limited Brokerage *A division of The Economist magazine.
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Red hot Muskoka prices have begun to drive interest to surrounding areas like Haliburton as well as Ontario’s other recreational property hot spots like Collingwood and Prince Edward County. In 2015 Chestnut Park’s Collingwood office showed an increase in sales of 29 percent from the previous year. At the close of 2015, Christie’s ranked Toronto #4 in our list of the Most Desirable Places in the World to Live, while the Economist Intelligence Unit* (EIU) ranked Toronto first in its Safe Cities Index, further adding fuel to this fiery market.
Dan Conn, CEO CHRISTIE’S INTERNATIONAL REAL ESTATE
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