Vancouver ranks number one in world luxury real-estate market

Vancouver’s real estate has gained international attention and outranked Shanghai, San Francisco, and Monaco.

Out of 100 international real-estate markets, Vancouver ranks number one in the global luxury retail market.

U.K.–based consultants Frank Knight’s The Wealth Report evaluates the most desired property markets and ranks them on their Prime International Residential Index according to year-over-year growth.

Prices in Vancouver grew by 24.5 percent. The report credits the city’s performance to low supply and a weak Canadian dollar.

Vancouver’s rate was significantly ahead of the city in second place: Sydney, Australia, which had a 14.8 percent annual increase.

Read the full article on The Georgia Straight.