Calgary Leads Canadian Luxury Real Estate Growth

Canada's luxury real estate market is experiencing significant growth, driven by an influx of new residents and easing monetary policies. Calgary has emerged as the leader in luxury sales, with a remarkable 42% increase in properties sold over $1 million in 2024, outpacing major markets like Toronto and Vancouver. The increased demand is bolstered by the population boom in Calgary, which has intensified pressure on housing prices and infrastructure. Across Canada, the luxury market saw a resurgence with the GTA recording a 21% rise in sales over $4 million. Factors such as lower interest rates and strong demographic trends are expected to continue fueling market activity into 2025. Amidst challenges posed by economic uncertainties and housing regulations, these dynamics are likely to create a more stable and active top-tier housing market in Canada next year.