Canadians embrace life in the 'lap of luxury'

Canadians are embracing luxury living more than ever before. If they are not currently living in a luxury home, many aspire to someday live in the lap of luxury. As a result, the number of unit sales of luxury homes has skyrocketed in Canada's major markets, according to

recent Carriage Trade Luxury Properties Report released by Royal LePage Real Estate Services.

If the aspirations of Canadians play a factor, sales of luxury homes will not diminish anytime soon. The report (conducted by Maritz Research Canada) found that over one-third (37%) of Canadians aged 18 and older, currently live in a luxury home, plan to buy a luxury home soon, or aspire to one day live in a luxury home.

"The pronounced increase in the number of luxury homes sold across the country is a strong reflection of Canadians' confidence in the economy and the real estate market," said Phil Soper, president and CEO of Royal LePage Real Estate Services.

In terms of the feature that would be the most important to Canadians if they were purchasing a luxury home, a commercial style kitchen assumed top rank (21%) in the poll. Additional features that would be of most importance include an indoor or outdoor pool (14%), smart wiring (12%), heated floors and driveways (11%), a fitness centre and luxury in-home movie theatre (both at 8%).

The position of most important criteria when purchasing luxury home includes investment, no. 1, 25%; proximity to excellent schools, no. 2, 19%; prestige of neighbourhood, 3, 17%; luxurious amenities throughout the house, and size of the house, no. 4, 11%; prominent neighbours, no. 5, 8%.

More information on trends in your neighbourhood is available online at www.royallepage.ca.

- News Canada