Victoria tops Christie’s luxury housing markets list

Ranking due to strong sales growth and high housing demand

Victoria has landed the top spot on Christie’s global list of hottest luxury housing markets.

The real estate arm of the famed auction company says strong year-over-year sales growth and high domestic demand for housing catapulted the Vancouver Island community to lead a list of cities around the world on the annual list.

Trailing Victoria on last year’s list are San Diego and Orange County, Calif., followed by Washington D.C. and Paris.

READ MORE: Greater Victoria among hottest luxury markets in Canada

Christie’s says the Victoria market earned such a high ranking because it is seeing an influx of buyers from the United States and China and sales rates that rival frenzied and neighbouring markets Toronto and Vancouver.

It says the average time it took to sell a luxury property in Victoria last year was only 32 days, down from 41 days in 2016, making it one of the most fast-paced markets in the world.

Christie’s also listed Toronto in the ninth spot on its list of most luxurious global cities for prime property and Muskoka, Ont. in the second position for its rankings of the hottest secondary home markets.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Technical rescues on the rise for local fire departments

Rescues allow firefighters to use different skill set

Westshore Warriors have back-to-back undefeated seasons

Local players could continue to play together at Belmont Secondary

Fundraising events ramp up for Tour de Rock

Dancing with the Cops, barbecue and garage sale taking place

VIDEO: Trudeau shuffles familiar faces, adds new ones to expanded cabinet

Justin Trudeau shuffles his front bench Wednesday to install the roster of ministers that will be entrusted with leading the Liberal team into next year’s election.

14-year-old pilot attempts to break Guinness World Record at B.C. airport

Mohd Shaikhsorab wants to become youngest pilot with fewest hours logged to fly solo

Price no guarantee for safety with horse riding helmets: new report

A Swedish insurance report reveals that many brands of equestrian helmets do not protect riders as well as they could.

One year later: Still no suspects in killing of 13-year-old B.C. girl

Marrisa Shen was killed in Burnaby’s Central Park on July 18, 2017

Cougar shot by police in Nanaimo

Shooting occurred in water at Nanaimo Yacht Club at about 1:30 a.m. Wednesday

BC Games opening ceremonies promise to be magical

Features Shane Koyczan and his band, Asani, parade of athletes, and lots more

VIDEO: Toronto Raptors send DeMar DeRozan to Spurs in colossal NBA trade

Toronto also sent Jakob Poeltl and 2019 first-round pick, gets Kawhi Leonard and Danny Green

More lightning forecast as storm sparks 38 new wildfires in B.C.

22 new fires in are burning in the Kamloops Fire Centre according to the BC Wildfire Service.

Most Read