2015 a bad year for luxury estates
Posted Jan 7, 2016 8:09 am.
This article is more than 5 years old.
Calgary’s high end housing market tumbled 41 per cent last year.
In total, 494 properties sold for over a million dollars in 2015.
The report from Sotheby’s International Realty Canada says there was an even steeper decline in the second half of the year.
While low oil prices cut into the luxury market in Calgary, sales were heating up in other big cities because of the low loonie and increased demand from foreign buyers.
Sales of million dollar homes jumped 48 per cent in the greater Toronto area and 46 per cent in Vancouver.
Add CityNews Calgary as a trusted source on Google to see more local stories from us.
