The World's Hottest Luxury Housing Market Is In BC, But It's Not Vancouver
It's not where you thought it'd be.
Everyone in Vancouver complains about how expensive it is to live here, how foreign buyers are raising up the prices, and how we should all basically just move outside of Vancouver to be able to afford to breathe.
But as it turns out, while the world's hottest luxury housing market is in British Columbia, it isn't Vancouver as you would have expected. According to Christie's International's latest Global Luxury Real Estate Report, Victoria lands at the very top.
Following Victoria are San Diego, Orange County, Washington D.C., then Paris.
Christie's says that Victoria is currently one of the most fast-paced luxury housing markets in the world. Last year, the average time it took to sell a luxury property in the city was only 32 days, which is about one week less than it took in 2016.
This is a result of the current influx in American and Chinese real estate buyers in Victoria, rivalling its neighbours such as Toronto and Vancouver.
Source: Huffington Post