Vancouver Ranks Top in Luxury Real Estate Market

Knight Frank's wealth report about 2015 luxury real estate ranks Vancouver as the best performing city worldwide, with a 24.5% increase over the last year.Sydney came in second with a 14.8% increase and Shanghai was third with 14.1% increase. Toronto came in 12th with a 8% increase. This is called the Prime International Residential Index (PIRI) and it tracks the most sought after real estate around the world.

The weak Canadian dollar helped Vancouver shoot to top position, together with low supply of properties for sale and international demand.

Interestingly, central London did not make the top 100 list.

However, Vancouver is not seen as a city that matters the most to the UHNW (ultra high net worth ) individuals, who live in other international cities but follow the advise of their investment advisors regarding real estate purchases and will send their children to school in cities like Vancouver.

Mar 22/16

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