South forest hill residences.Luxury property prices in Canada hit a new high. British Columbia introduced new housing rules last spring, while Ontario introduced a similar overseas buyer transaction tax this spring, according to a recent report by Sotheby’s International Real Estate.Please Visit: South forest hill residences to Get Your VVIP Registration Today!
For a while, sales of high-end homes in these cities slowed. At the same time, increased consumer confidence in Calgary and Montreal has also boosted sales in the luxury industry, the report said. For a time, it seems that the real estate market across Canada is moving towards a peaceful and prosperous scene.
But the truth is that at the top of the market, that is, for individual homes that cost Top 1 per cent or more, these rules are different. Whether the market is booming or not, homes can be hung on the “for sale” sign for some time until a suitable super-rich buyer is found. Like a Vancouver mansion that was recently listed, its list price once again set a new record for local property prices.
The property comes from real estate developer Robert Campeau, who built an iconic house in Bridle Path, a city on the outskirts of Toronto. Located on four acres of land, the “French castle” covers an area of more than 30,000 square feet and includes 10 bedrooms, 14 bathrooms, a state-of-the-art gourmet kitchen, a two-story swimming pool and a structural floor. can be converted into a ballroom or tennis court.
The house was owned by former Canadian Prime Minister Pierre Elliot Trudeau from 1978 to 1990, and guests included celebrities such as the late Cardinal Gerald Emmett Carter of Toronto. Because of the magnificent decoration, it is also used in many films.
The property is currently owned by Hal Springer, a lawyer and venture capitalist, and his wife, the Canadian managing partner of the world’s largest labor and employment law firm. Two years ago, they put the house on the market for 25 million dollars.
Although the mansion is currently the most expensive property for sale in Canada, the price is not at all an obstacle for super-wealthy buyers in the eyes of agents promoted around the world. Although British Columbia, where the property is located, has a 15 per cent foreign buyer purchase tax, the industry does not believe this will affect sales of the luxury property.
The house is currently selling for C $35 million, and although the property has not been sold for two years, its latest listing price is much higher than C $25 million two years ago, and 15 per cent of overseas buyers’ occupational tax is not included. “I think the 15 per cent tax has proved to be the cost of doing business,” said Barry Cohen, a broker at re/max Realtron, adding that the price increase was only an indication of the extent to which the market was rising. “the luxury market is doing very well,” he said. Past quotations have always been a mixture of local and international buyers. This time, we are raising it to a higher level in the international market. “
