How Immigration And Migration Are Reshaping Canada's Luxury Home Markets

Overview Report highlights how immigration and migration are impacting luxury home markets in Toronto, Calgary, Vancouver, and Montreal.

Calgary Calgary's luxury market is booming, with a 46% increase in homes over $1M and a 75% rise in $4M+ sales in early 2024, driven by interprovincial migration and strong economic conditions.

Montreal Montreal's luxury market shows steady growth, with a 25% increase in $1M+ sales and a 29% rise in $4M+ sales, reflecting a balanced buyers' market amid moderate population growth.

Vancouver Vancouver faces a slowdown, with a 3% decline in $1M+ sales and a 16% drop in $4M+ sales due to high costs and interprovincial migration losses.

GTA The Greater Toronto Area’s luxury market remains resilient with varied performance: a 10% decline in $1M+ sales, an 8% rise in $4M+ sales, and a decrease in ultra-luxury transactions.