Luxury real estate: Inside a $13-million condo
What does nearly $13 million get you in Toronto? The most expensive piece of condo real estate on the public market is what it could get you.
This Toronto penthouse property costs just under that price tag and makes a rather large first impression.
With three bedrooms, a den, four bathrooms and an impressive view, this condo costs $2,300 per square foot.
Michael McLachlan, with Re/Max Ultimate Realty, says it's a good value.
The average price per square foot in the city, however, is about $500.
So just who is buying units like this?
“[Often] we're seeing buyers from India, China, the Middle East and Europe seeing Toronto as great destination,” said Gurinder Sandhu. executive vice president for Ontario-Atlantic Canada Re/Max.
“They see it as a great investment. Equally important, they see Toronto as a great city to live in.”
Maintenance for the unit is around $5,500 per month.
- For more on the story from CBC's Nil Koksal watch the video above.