ZOOMERS FUEL DEMAND FOR LUXURY PROPERTIES IN GTA

Jul 22, 2014

By Andy Johnson

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Good news for Zoomers who own luxury properties in the GTA. According to a report by Sothebys International, the high-end real estate market is roaring along, with sales of properties over $1 million up 34 per cent in the first half of 2014. The twice yearly “state of the of the high-end market” report says despite fears of oversupply, demand for luxury condominiums remains high. Sothebys points to a surge in baby boomers looking for spacious but low-maintenance luxury condos, ideally with two parking spots. The report says that even the GTA’s highest priced condo apartments and townhouses, those over $4 million, saw sales double.

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