TORONTO — Sotheby’s International Realty Canada says turbulence on the Chinese stock market could send buyers from mainland China flocking to Canadian luxury real estate this fall.
The realtor predicts that sales of homes worth over $1 million will rise in Toronto and Vancouver, while Montreal’s luxury market should be balanced and Calgary’s will slow due to the effects of declining crude prices.
Sotheby’s says sales gains are expected to be highest in the over $4 million category in the Toronto and Vancouver areas this fall, although higher sales volumes are expected in the $1-million to $4-million range, as well.