Vancouver and Toronto

: In Greater Vancouver, 572 homes above $3 million were sold in the month, compared to 319 a year ago, according to CBC. The highest price paid for a Greater Vancouver property was $17.5 million. In June 2015, there were 379 homes in that price range sold in Toronto, compared to 179 a year ago. In Toronto and Vancouver, the average cost of a detached home is in excess of $1 million and that is no longer considered a luxury price. He said the relative strength of the yuan, which wasn't devalued until mid-August, helped make most Canadian real estate affordable. Vancouver real estate prices not the fault of foreign buyers, says new report Vancouver real estate a bargain for Chinese investors, says China-based agent Re/Max brokers and agents reported luxury buyers, primarily from China, are typically families with children who are relocating to Canada to live. "While there has been a lot of concern about foreign investors in Canada housing market, we're seeing that the foreign buyers in our major luxury markets are living in their properties," said Gurinder Sandhu, executive vice-president of Re/Max Integra Ontario-Atlantic Canada. (news.financializer.com). As reported in the news.