A top-tier private property in Montreal was recently sold for $20 million, in what has been described by Sotheby’s International Realty Canadas a new benchmark for residential sales through Quebec’s MLS.
The transaction came in the wake of May economic reopenings that saw the steady resumption of sales activity in one of Canada’s premier luxury housing destinations.
“Situated on almost 30,000 square feet of beautifully landscaped grounds, this estate provided a rare opportunity to own one of the most prestigious properties in Montreal,” said Liza Kaufman, listing agent with the Kaufman Group of Sotheby’s International Realty Quebec.
Kaufman worked with both the sellers and the buyers of the sprawling six-bedroom home. Other details remained private.
“By marketing the property across Sotheby’s International Realty’s exclusive media network, we generated strong local and international demand and several offers,” Kaufman said.“This sale reflects how confident luxury buyers are in the long-term fundamentals of Montreal. It also reveals a consumer trend that is emerging with the pandemic: More than ever, people are seeking security and a desirable lifestyle by investing in their homes.”
Don Kottick, president and CEO of Sotheby’s International Realty Canada, said that the reopenings have sparked a gradual return to the pre-pandemic normal.
“The Montreal real estate market, as well as major metropolitan markets such as Toronto and Vancouver, saw significant gains in the first months of 2020 before COVID-19 disrupted their momentum,” Kottick said. “We’re now seeing pent-up consumer demand surge into new activity. In addition, global uncertainty is firing up new demand for real estate in key Canadian markets including Montreal, not only amongst locals, but from buyers from the US and overseas who are seeking sanctuary and a secure financial investment.”