Wednesday, December 05, 2007

Rags to riches to real estate

Rags to riches to real estate

(NC)-Being wealthy is no longer a matter of being born into the right family but hard work stemming from a desire to do well. The 2007 Royal LePage Carriage Trade Luxury Properties Report - (conducted by (Ipsos Reid) - suggests that almost half (46%) of high net worth Canadians cite hard work as the main driver to attaining wealth, followed by the drive to succeed (27%) and a higher education (18%). Only four per cent (4%) of respondents chalk their success and their financial stability to being born into the right family, while one per cent (1%) attributes it to plain old luck.

A significant increase in the unit sales of high-end homes across Canada indicates that more and more Canadians are reaping from the rewards of their hard labour.

"Luxury living is no longer the exclusive domain of a few. Buoyant economic conditions and confidence in the market going forward have ignited a growing passion for investing in luxury property among an increasing number of Canadian families," said Phil Soper, president and CEO, Royal LePage Real Estate Services.

It is no wonder that the sales of high-end homes are booming; half (47%) of high net worth Canadians live in properties valued from $600,000 to $999,000, while 12 per cent live in homes with price tags starting at $1 million. In addition, demand for well-appointed properties remains strong with a trend of affluent Canadians owning more than one home.

More information on trends in your neighbourhood is available online at http://www.royallepage.ca/. Credit: http://www.newscanada.com/

Read more about our current marketplace statistics

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


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