Christie’s International defines a luxury home as a home that sells for more than $3 million. According to a new survey done by Christie’s International, the sale of luxury homes in Toronto was up 48 per cent in 2015. This is due to the relatively short supply of luxury homes in the city which results in high prices and sales activity. This has a major effect on the GTA (Greater Toronto Area) because many people are opting into the more affordable luxury lifestyles available in the suburbs. This includes Oakville and Vaughan which are experiencing increasing activity in luxury markets as buyer’s are looking for such properties. This survey found that Toronto’s real estate market is second to only Auckland, New Zealand when it comes to luxury homes.
Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.