Homes: Trade war turmoil not impacting luxury real estate: Sotheby's
Article content
Findings indicate that the 'ultra-luxury market for properties over $10 million stood out as one of the nation's rare real estate strongholds in the first quarter of 2025.'
Article content
Article content
Article content
The report also notes that a promising rebound in Canadian real estate early at the start of 2025 was swiftly derailed by rising Canada–U.S. trade tensions, the threat and implementation of tariffs and counter-tariffs, and growing macroeconomic volatility.
Article content
The good news, according to Dianne Usher, the senior director of talent growth and managing broker in Ontario with Sotheby's, is that the confidence tide may be turning and not only for high-priced homes and condos.
Article content
'The reason is, is we're sensing a stability entering the marketplace,' she said. 'Here in Ontario, we've got two elections over and done with, we seem to have some sense of stability coming in terms of our relationship with our greatest ally, and that's boding well for confidence coming back to the spring market.'
Article content
There is, said Usher, also multiple offers coming in for various properties, which is a good sign.
Article content
Article content
Effi Barak, president of Sotheby's Canadian operation, said that 'Toronto's ultra-luxury single-family home market, particularly in its most prestigious neighbourhoods, remains poised for activity.
Article content
'While buyers are increasingly selective — negotiating assertively and prepared to wait for the 'perfect' home – there is underlying strength in this segment.
Article content
· Calgary's luxury real estate market remains 'well-positioned to withstand tariff threats and economic risks given its growth momentum from 2024. Following a record-setting population boom in 2024 that boosted Calgary's population by 6.14% year-over-year, the city remains positioned for growth in 2025, as the province of Alberta, added 28,496 new residents in the first quarter of 2025 compared to the last quarter of 2024 according to Statistics Canada, the largest net gain of population over other Canadian provinces and territories.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
an hour ago
- Toronto Star
Gibson Energy Declares Dividend
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, July 28, 2025 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) ('Gibson', or the 'Company') announced today that its Board of Directors has approved a quarterly dividend of $0.43 per common share, payable on October 17, 2025, to shareholders of record at the close of business on September 30, 2025. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Gibson's dividends are subject to Canadian withholding tax.
Toronto Star
an hour ago
- Toronto Star
Gibson Energy Reports 2025 Second Quarter Results, Including Record Volumes at Gateway Following Dredging Completion
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, July 28, 2025 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) ('Gibson' or the 'Company') announced today its financial and operating results for the three and six months ended June 30, 2025.
Montreal Gazette
an hour ago
- Montreal Gazette
Ferry fares in Îles-de-la-Madeleine and Atlantic Canada to be reduced as of Aug. 1
Prime Minister Mark Carney announced Monday that fares for interprovincial ferries and bridge tolls in eastern Quebec and Atlantic Canada will be cut by at least 50 per cent starting Aug. 1. Fulfilling a promise the Liberals made during the April election campaign, Carney said the ferry operating between Îles-de-la-Madeleine and Souris, P.E.I. will see fare cuts by half for passengers, vehicles and commercial traffic. Similar fare reductions will apply to all federally supported ferry services across Atlantic Canada. In addition, the federal government will reduce vehicle tolls on the Confederation Bridge — which links P.E.I. to New Brunswick — from more than $50 to $20. 'Canada's new government is on a mission to bring down costs and build one, strong Canadian economy,' the Prime Minister's Office said Monday in a press release. 'By cutting tolls on the Confederation Bridge and fares on ferries in Atlantic Canada, Canadians and businesses will save millions of dollars. That means more travel and trade between provinces, a stronger, more united economy, and more prosperity and opportunity for Canadians.' The ferry service between Îles-de-la-Madeleine and Souris is operated by the Coopérative de transport maritime et aérien (CTMA). During peak summer season, a one-way ticket currently costs $59.10 for an adult, plus $110.15 for a car. The federal government owns ferry vessels and terminals and leases them to ferry operators, according to the press statement. Annually, more than 531,000 passengers, 200,000 passenger vehicles and nearly 20,000 commercial vehicles use federally owned ferry services in Atlantic Canada. In addition to Îles-de-la-Madeleine and Souris, ferries provide service between Wood Islands in P.E.I., Saint John, N.B., and Caribou and Digby, N.S.
