Yet another report says Toronto’s real-estate prices are headed for a soft landing
Some say thanks in part to a booming condo-construction sector that for years, according to analysts, has threatened to outstrip demand. At the same time, a different group of analysts is saying that all those overbuilding fears are overblown.
According to the Canadian Press, a new report from the Conference Board of Canda argues that low mortgage costs are likely to keep demand for housing strong, even in condo-happy Toronto. Supposing mortgage rates start rising, the group predicts only a modest real-estate price correction, rather than the rapid crash some observers have predicted. Reports from other organizations have reached more or less the same conclusion, but some analysts foresee bigger price fluctuations in the near future. TD Economics, for instance, has said that Toronto condo prices are likely to drop by four per cent in 2014 and 2015—which wouldn’t constitute a crash, exactly, though it would be serious.
And so while now might not be the time to buy up condos with wild abandon, it’s probably not a bad idea to hold off on the panic.
Relax … Set yourself on the mark, get ready to conquer one of these toys eventually … Soft Landing On Top Four Most Expensive Homes in Canada – That’s the idea …
Inside the Top Four Most Expensive Homes in Canada
Have you ever wanted to take a stroll through the most luxurious mansions? Take a look at the four most expensive pieces of real estate in Canada; the ultimate symbols of opulence and wealth.
#4: 5050 Happy Valley Lane, West Vancouver, BC – $22,800,000
Situated in one of the most scenic and exclusive neighborhoods in Canada, West Vancouver is nestled in the Coast Mountains and is a waterfront city with panoramic views and ski terrain on the edge of the Pacific Ocean. 5050 Happy Valley Lane is a sprawling luxury residence with seven bedrooms and eight bathrooms spread over 12,998 square feet on three floors.
A gated estate built over five years on 2.36 acres, the home is a statement of the finest European quality and detail. It features a number of large entertainment rooms that feature incredible French ‘Beaumaniere’ limestone floors, black and white marble floors, a Spanish imported circular mosaic motif, solid mahogany millwork, custom ceiling designed frescos with gold leaf detail and 1-foot thick Ralph Lauren inscribed faux painted walls.
In the family room, a stunning limestone fireplace is bordered by walnut hardwood floors and walnut paneled ceilings. While the seven boutique hotel style bedroom suites and the master is replete with faux finish leather walls, his and hers dressing rooms and 9′ hardwood floors and three ‘Juliette’ balconies with wrought iron railings. There is an adjoining spa ensuite, as well as a nicely equipped study with a balcony.
The home has many other luxury features including a spectacular double height library, motor court with custom paving stones, a four car garage and of course a temperatire controlled wine room designed to hold 2,500 bottles.
Photos: Jason Soprovich
#3: 551 Rue Merry South, Magog, QC – $25,000,000
The timeless architecture and flawless design of the gated estate at Rue Merry South compliments the opulent manicured grounds that gently slope toward Lake Memphremagog and the private dock.
Built in 2012, this grand estate features five bedrooms and seven bathrooms, a heated inground indoor pool, elevator, geothermal heating, impressive stone siding as well as copper gables and gutters. This luxury home is well suited to the outdoor enthusiast as it is conveniently located next to golf courses, alpine and cross-country skiing.
Photos: Mellor Group
#2: 3838 Cypress St., Vancouver, BC – $35,000,000
Located in one of Vancouver’s most prestigious residential enclaves, First Shaughnessy boasts many of the city’s historical homes with distinct North American styles such as Neo-Tudor, Federal Colonial and Arts & Crafts.
Once home to the former Lieutenant Governor, this beautifully restored two-story heritage residence includes two formal rooms, 2 wine cellars, oak floors, stained glass windows, gourmet kitchen, oak panelled elevator and an Art Deco parkade.
Photos: Vancouver Homes with Jay Banks
#1: Kettle Lake, AB – $37,888,000
With 3,050 square feet of above ground living space, the ranch at Kettle Lake in Alberta was once owned by the famous Ford family of Henry Ford heritage. Built in 2011, the sprawling estate reaches across 242 acres of pristine natural beauty and mountain views, including several large lakes.
This luxury ranch features two stunning houses and comes equipped with three bedrooms and four bathrooms. The kitchen features decadent cabinets from South Carolina, complete with granite countertops and high-end appliances. Beautiful pine hardwood surrounds many of the rooms, with an opulent master retreat that includes a six-piece spa bathroom with steam shower, soaker tub and walk-in closet.
The estate also includes a horse barn along with a pasture and paddocks, storage and riding areas, stone archways and exposed wood beams from Alberta Graineries.
Photos: Sotheby’s International Realty