Toronto lake-view penthouse leads record luxury condo sales. - CondoSavvy

Original article via Mortgage Broker News.

A $20-million penthouse with views of downtown Toronto and Lake Ontario helped luxury condominiums shatter sales records in Canada last year, bucking a cooling trend in the rest of the housing market.

The 7,000-square-foot residence in the city’s Bloor Street area was the most expensive condo sold in the country in 2017, according to Sotheby’s International Realty Canada. Sales of condos with a price tag above $1 million surged 59% in Toronto, 27% in Vancouver, and 49% in Montreal, pushing the number of units sold in three cities to 2,703.

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