Toronto is the world's top paradise for real estate-savvy billionaires.
A report released by Christie's international real estate group shows that the city experienced a 37 percent increase in the sale of luxury penthouses, apartments and houses in the 12 months to the end of December 2014, leaving markets like San Francisco, Dubai and Hong Kong in the dust.
Dan Conn of Christie's told the
Telegraph:
“This was Toronto’s second best year on record, but it wasn’t just a function of supply and demand. This is one of the most stable financial and governmental systems in the world. It’s the major economic hub in Canada, with a net influx of people and an incredible rate of growth. The perception is it’s a safe place to invest, still relatively cheap, with an attractive rate of return.”
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Source: The Telegraph.