{"id":1127,"date":"2016-03-03T08:55:01","date_gmt":"2016-03-03T16:55:01","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1127"},"modified":"2016-03-02T13:04:46","modified_gmt":"2016-03-02T21:04:46","slug":"vancouver-is-the-worlds-hottest-luxury-real-estate-market-toronto-isnt-far-behind","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/03\/vancouver-is-the-worlds-hottest-luxury-real-estate-market-toronto-isnt-far-behind\/","title":{"rendered":"Vancouver is the world\u2019s Hottest Luxury Real Estate Market, Toronto isn\u2019t Far Behind"},"content":{"rendered":"

San Francisco, Berlin and London : those are just a few of the cities Vancouver beat out to top Knight Frank\u2019s latest annual index of luxury housing markets across the globe.<\/p>\n

\u201cVancouver leads the rankings by some margin,\u201d writes Kate Everett-Allen, the real estate firm\u2019s head of international residential research.<\/p>\n

Knight Frank\u2019s Prime International Residential Index (PIRI) compares home-price growth in the priciest corners of housing markets, \u201cgenerally defined as the top 5 per cent of each market by value,\u201d explains Everett-Allen.<\/p>\n

Vancouver\u2019s 24.5 per cent price surge in its luxury real estate segment placed it well above second place Sydney, which saw 14.8 per cent appreciation, according to Knight Frank.<\/p>\n

\u201cA lack of supply, coupled with foreign demand, spurred on by a weaker Canadian dollar explain the (Vancouver)\u2019s stellar performance,\u201d she continues in the firm\u2019s Wealth Report 2016, which features the index.<\/p>\n

Toronto was the only other Canadian city included in the 100-market list, and it wasn\u2019t far behind Vancouver, taking the 12th spot. High-end home prices in Ontario\u2019s capital were up 8 per cent last year, according to the index.<\/p>\n

\u201cToronto acts as a gateway city for Asian, European and Middle Eastern buyers to North America,\u201d Everett-Allen tells BuzzBuzzHome News.<\/p>\n

\u201cIt has good transport links, a broad cultural, sporting and social calendar, good educational facilities\u2026 as well as quality housing stock,\u201d she says of its appeal to buyers.<\/p>\n

Both Toronto and Vancouver have been on Knight Frank\u2019s radar for some time, but each made considerable leaps over their performances the year before.<\/p>\n

Last year, when Knight Frank\u2019s index positioned New York as the leading global luxury market of 2014, Vancouver ranked 25th. It shared the spot with the two major German cities, Frankfurt and Munich, and the Swiss ski village of Verbier.<\/p>\n

Toronto, meanwhile, placed 28th in 2014, between S\u00e3o Paulo, Brazil, and Riyadh, Saudi Arabia.<\/p>\n

\u201cThe weak Canadian dollar has boosted foreign investment while low interest rates and a buoyant labour market have increased demand from domestic buyers,\u201d Everett-Allen tells BuzzBuzzHome News, explaining Toronto\u2019s 2015 jump in the rankings.<\/p>\n

Here are the top 20 markets from the 2015 PIRI 100 :
\n1. Vancouver
\n2. Sydney
\n3. Shanghai
\n4. Istanbul
\n5. Munich
\n6. Melbourne
\n7. San Francisco
\n8. Auckland
\n9. Amsterdam
\n10. Monaco
\n11. Berlin
\n12. Toronto
\n13. Capetown
\n14. Miami
\n15. Bangkok
\n16. Seoul
\n17. Val d\u2019lsere
\n18. Jakarta
\n18. Bengaluru
\n20. Madrid
\n20. Ibiza<\/p>\n

Vancouver is the world\u2019s Hottest Luxury Real Estate Market, Toronto isn\u2019t Far Behind<\/a> by Josh Sherman | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"

San Francisco, Berlin and London : those are just a few of the cities Vancouver beat out to top Knight Frank\u2019s latest annual index of luxury housing markets across the … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1127","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nVancouver is the world\u2019s Hottest Luxury Real Estate Market, Toronto isn\u2019t Far Behind • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/03\/vancouver-is-the-worlds-hottest-luxury-real-estate-market-toronto-isnt-far-behind\/\" \/>\n<meta name=\"twitter:card\" 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