Wednesday, May 09, 2007

Toronto Real Estate News

It looks like Real Estate in Toronto is still a bargain when compared with homes in the rest of the world. Toronto, or any other Canadian city, Vancouver perhaps, do not even make the list of expensive places to buy real estate. The most expensive real estate in the world is in London, England, where $5k per square foot is the going rate. My 2300 sq/ft home would be worth $11.5 million if plunked into downtown London. I would like the cash, but not to live there.

Toronto Not On List Of The Most Expensive Real Estate Cities On Earth
Wednesday May 9, 2007

Looking to buy a home and think
Toronto real estate is out of your league? It turns out, we don't even count when it comes to the really pricey places on the planet. In fact, no Canadian city even shows up on the list of the world's most expensive real estate locations. The number one position belongs to London, England, where prime property costs an average of just over Cdn.$5,000 a square foot. (The city is already home to the most expensive mansion on earth.) Next is the Principality of Monaco, where you'll pay about $4,800 for the same property measurement.

The list is from the aptly named
Wealth Report 2007, an annual publication that measures where the world's money is going. It claims people with lots of dough - roughly more than $11 million - know real estate is generally a good deal and are buying up the best locations. That's pushing some of the sites named in the report to record levels.

So the next time you cringe when you hear what a T.O. home is worth, remember it could be worse. You could just be getting a real bargain for your bucks.

Full Report

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