Montreal luxury home market sees record sales in 2015

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 $500K also continued to sell well last year

A home in Outremont is among those that sold for over $1 million. (Mathieu Dion/Radio-Canada)

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.

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.

High-end condos also sold well in 2015. (Radio-Canada)
The luxury home market, however, accounts for only a small portion — 2.2. per cent — of the total sales for the year.

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.

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