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The Winners and Losers of Canada's Luxury Home Market in 2019

  • High-end demand will outpace supply in Toronto, Sotheby’s says
  • In pricey Vancouver, buyers are getting upper hand in deals
The Canadian Housing Boom Fueled by China’s Billionaires

Photographer: Darryl Dyck/Bloomberg

Luxury-home markets across Canada’s biggest cities tumbled last year on the heels of regulations set by the federal and provincial governments to curb soaring prices and debt. Here’s what brokerage Sotheby’s International Realty Canada expects for 2019.

In Canada’s biggest city, luxury sales -- homes priced above C$1 million ($753,000) -- took a hit in early 2018 but gained traction in the second half of the year, buoyed by steady economic growth and population gains that significantly beat the national average. Demand for high-end real estate is projected to outpace supply and continue driving up prices through the first quarter.