Real Estate
Penthouse With Lake Views Leads Record Luxury Condo Sales in Canada
- Toronto, Vancouver, Montreal sales above C$1 million surge
- Sotheby’s says 2018 outlook for condo market remains strong
Condominium windows are seen illuminated at night in Toronto.
Photographer: Brent Lewin/BloombergA C$20 million ($16 million) penthouse with views of downtown Toronto and Lake Ontario helped luxury condominiums shatter sales records in Canada last year, bucking a cooling trend in the rest of the housing market.
The 7,000-square-foot (650-square-meter) residence in the city’s Bloor Street area was the most expensive condo sold in the country in 2017, according to Sotheby’s International Realty Canada. Sales of condos with a price tag above C$1 million surged 59 percent in Toronto, 27 percent in Vancouver and 49 percent in Montreal, pushing the number of units sold in three cities to 2,703.