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Luxury Condos everywhere ......

cdr108 said:
Toronto's standard of luxury compales to other cities ...

there was an episode of "big city broker", where a RE agent came from NYC to look for a luxury condo for his buyer.

one of BJL's brokers showed him $1MM+ places in Tip Top (PH), a condo TH in Designers Walk, and a PH in one of Freed's buildings ... none of them met the NYC buyer's standard.
Click to expand...

I remember that episode. I laughed.

I even saw Murano calling itself a luxury building. What a joke!
 
Well, there's different types of luxury standard. The medium income's luxury isn't the same as the rich people's luxury. For some a benz might be a big deal. But for rich people they're just regular cars. Like 1 million might seem like a lot. But rich people consider it change.
 
AKS said:
Well, there's different types of luxury standard. The medium income's luxury isn't the same as the rich people's luxury. For some a benz might be a big deal. But for rich people they're just regular cars. Like 1 million might seem like a lot. But rich people consider it change.
Click to expand...


yes and no ...
while it may not be alot of money for the mega rich when one considers their net worth, there is still the quality, features and finishes, exclusivity aspect that those types of buyers expect and demand.

another example ... consider Cirque du Soleil founder Guy Laliberte, who paid $35 million for the trip to space, has a net worth of $2.5 billion in 2009 according to Forbes ... that's only 1.4% of his net worth.

however, we all recognize that it's a rare opportunity and 'luxury' for anyone to be able to do what he did.
 
cdr108 said:
yes and no ...
while it may not be alot of money for the mega rich when one considers their net worth, there is still the quality, features and finishes, exclusivity aspect that those types of buyers expect and demand.

another example ... consider Cirque du Soleil founder Guy Laliberte, who paid $35 million for the trip to space, has a net worth of $2.5 billion in 2009 according to Forbes ... that's only 1.4% of his net worth.

however, we all recognize that it's a rare opportunity and 'luxury' for anyone to be able to do what he did.
Click to expand...

Well, like I said there are different standards for luxury. Some are attainable, and some are not possible to attain for the normal person. Luxury to rich people is a dream for others. While something that is high quality for a regular person is already a luxury for them since it's not possible. I mean, how many people can take a trip up to space. However people who have money can vacation on earth at a luxury resort.
 
Top 5 wealthiest neighbourhoods in Canada:

5. Rockliffe Park (Ottawa)
4. Forest Hill (Toronto)
3. Bridle Path (Toronto)
2. Westmount (Montreal)
1. Rosedale (Toronto)

Source: www.askmen.com
 
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urbandreamer said:
According to Epi's luxury idea, I own a luxury home. lol.
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I was talking about condos, so if you live in a big condo where all the conditions I said are standard in every unit on every floor (not upgraded), then yes it's a luxury building FOR TORONTO.
 
Regarding the NYC investor ... something clearly doesn't add up because there are few 5-10+ million dollar penthouses, particularly in buildings like Trump, Ritz, Four Seasons, Regency, Shangrila ... and more ...

So maybe what he meant was he can't get what he can in New York in Toronto for 1 million :) he needs to fork out more $$$ here lol
 
there was an episode of "big city broker", where a RE agent came from NYC to look for a luxury condo for his buyer.

one of BJL's brokers showed him $1MM+ places in Tip Top (PH), a condo TH in Designers Walk, and a PH in one of Freed's buildings ... none of them met the NYC buyer's standard.
Click to expand...

He wasn't looking for luxury (alone), he was looking for something really unique.
 
gristle said:
He wasn't looking for luxury (alone), he was looking for something really unique.
Click to expand...

Should have been taken to the Annex then.

Lets see him find a single detached house of that style on Manhatten island for $1M.
 
MadMax said:
Top 5 wealthiest neighbourhoods in Canada:

5. Rockliffe Park (Ottawa)
4. Forest Hill (Toronto)
3. Bridle Path (Toronto)
2. Westmount (Montreal)
1. Rosedale (Toronto)

Source: www.askmen.com
Click to expand...

I am not sure www.askmen.com has it correct. Here is what I found, but, this is also unconfirmed.. remember that neighbourhoods are pretty loosely defined, so the stats will probably vary.. I will keep my eye out for any more information that I can find..
5. Rockcliffe Park -- $1,141,571 -- (Average sale price year to date for Aug. 2009 from the Ottawa Real Estate Board)
4. Bridle Path, Toronto -- $1,252,295 -- (Average sale price, Aug. 2009 from the Toronto Real Estate Board)
3. Vancouver west side -- $1,570,884 -- (Average sale price year to date for Aug. 2009 from the Vancouver Real Estate Board)
2. Mount Royal, Calgary -- $2,060,000 -- (Average sale price, Aug. 2009 from the Calgary Real Estate Board)
1. Elbow Park – Glencoe, Calgary -- $3,274,333 -- (Average sale price, Aug. 2009 from the Calgary Real Estate Board)

Anyone know of any creditable sources for this?
 
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