Vancouver’s housing remains red hot, but a Canadian brokerage firm suspects luxury real estate prices in the city to soar to even higher heights.
$4 million dollars, it’s a benchmark price we should expect to see more of for detached single family homes in Vancouver.
That;s what Brad Henderson with Sotherby’s International Realty Canada says.
“What’s perhaps a bit surprising for many market observers is that the market for 4 million homes is actually as strong if not stronger than the market for $1 million dollar plus homes.”
It comes a week after a Kitsilano home sold a whopping $735-thousand dollars over the asking price of 3.5 million.
Henderson says the reality is both local and foreign buyers are seeing value to invest their money in the luxury marketplace.