Base price for Calgary luxury homes rises to $2-million
Posted Apr 18, 2013 7:30 am.
This article is more than 5 years old.
If it’s important to you to be living in a luxury home, you’d better be prepared to shell out some serious cash.
According to a new report from Sotheby’s International Realty Canada, Calgary’s price point is a minimum $2-million to live in a 3,000 square foot, single family home in a trendy neighbourhood.
Those buying luxury homes are between 35 and 40-years-old and most earn about $500,000 annually working in professions in the financial, oil and gas, mining, and medical sectors, as well as those who own their own business.
With the youngest demographic of luxury home-buyers across the country, Calgary’s real estate market is being boosted by young people wanting to spend top dollar to live well.
While the city continues the grow, so will the entry price of a top tier home which isn’t far behind the minimum of $2.8-million and $3.5-million it’ll cost you in Vancouver and Montreal, respectively.
Something of note in Calgary, our luxury home market is primarily domestically driven, with only 15 per cent of buyers coming internationally, compared to 50 per cent of foreign buyers in Montreal.
A few sought-after features of these homes include trendy neighbourhoods with water, mountain or downtown views, high-end finishings, multiple car garages and large gourmet kitchens.
According to The Calgary Herald, a few of the hot neighbourhoods are Mount Royal, Bel-Aire, Aspen, Elbow Park and Inner City Southwest.
