Evolving Generational Trends to Shape Future of Canadian Luxury Real Estate

A new report released today by Sotheby’s International Realty Canada provides insight20140725-155707-57427171.jpg into the luxury home buying trends of three key generations in Canada: baby boomers, generation X and generation Y. The report further reveals the slated future impact of each generation on the high-end real estate market, and examines generational variances across Canada’s largest urban centres: Vancouver, Calgary, Toronto and Montreal.

Click here for a link to the report

For Toronto:

Baby Boomers (1946-1965)- Luxury Real Estate Traditionalists

  • Neighbourhood: Prestigious Existing Neighbourhoods
  • Typical price: $2-million to $4-million
  • Typical home for upsizers under the age of 60: Single family with min. 3,000 sq. ft., four bedrooms and three-car garage
  • Typical home for rightsizers over the age of 60: Condo with min. 2,200 sq. ft., two bedrooms and den

Generation X (1965-1979) – Family-Driven Aspirational Buyers

  • Neighbourhood: High Quality Schools, Vibrant Communities
  • Typical price: $1.5-million to $2.5-million
  • Typical home: Single family with 2,000-3,000 sq. ft., three-four bedrooms and two parking spaces

Generation Y (1965-1979) – Family-Driven Aspirational Buyers

  • Neighbourhood: Trendy Urban Neighbourhoods with High Walkscores
  • Typical price: $800,000 to $2-million
  • Typical home: Condo with min. 900 sq. ft.

Here are a few News Reports About the report:

Globe and Mail

Financial Post

Toronto Star

CTV

Global News

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