Canada

Engel & Völkers welcomes you to its annual mid-year Canadian Luxury Real Estate Market Report. On-the-ground intel from local experts combined with market data informs our analyses and serves as the basis for trends and forecasting. Homes priced $1 million to $3.99 million and $4 million or higher as listed in the Multiple Listing Service were evaluated throughout the year. The result is a residential property and market report for Halifax, Montréal, Ottawa, Toronto, and Vancouver. It is clear changing priorities are influencing the preferences of homeowners in ways that are here to stay. Low-interest rates, easy access to borrowing, and extra savings amongst professionals who stayed employed during 2020 accelerated what Engel & Völkers calls ‘the COVID shuffle.’ Decisions to purchase second homes, move to rural areas or embark on multigenerational living have made their mark on the Canadian housing market. As we enter the latter part of 2021, here are the top national trends affecting Canada’s premium and ultra-luxury housing markets.