Montreal luxury home market sees record sales in 2015
Luxury condos priced above $500K also continued to sell well last year
The market for luxury homes in Montreal showed no signs of slowing down last year.
A record number of homes sold for more than $1 million on the island in 2015.
- Montreal home prices flat in last quarter but expected to grow in 2016
- Real estate woes: The secret lives of house-poor Canadians
The Quebec Federation of Real Estate Boards says 500 such homes were sold last year, representing an 18 per cent increase over a year earlier.
Luxury condos priced above $500,000 also continued to sell well, with 689 sales recorded last year.
Paul Cardinal, director of the analytical department at the Quebec Federation of Real Estate Boards, said it's a good time for experienced buyers to enter the luxury market, with interest rates low.
"This is a great time for those who want a top-level category," he said.