Luxuryhomes.com
Canada's real estate boom of the past decade has come to an end, but a few cities in Alberta will continue to beat the national average of house prices, new research from TD Bank says.
While Canada's long-term trend as one of the most profitable places to invest is not encouraging, the report predicts Edmonton and Calgary, along with Vancouver and Toronto and Victoria, will continue to outpace the national average in terms of home prices over the next 10 years.
"I do not think we have a housing bubble in Canada," said TD chief economist Craig Alexander.
"We have had abnormal strength in the market during a period of low interest rates and when rates go up over the next three years, you will get a cooling and weaker prices, but not a permanent shock and not a sharp correction."
The report from one of Canada's largest banks makes the case that gains in housing prices have been exceptionally strong over the last 10 years, and these houses in Alberta with a tab of around five million dollars are no exception.
With pools, acres of land, wine cellars and elevators, these mansions tip Alberta's average house prices to the higher end.
What $5 Million Will Buy In Alberta
Calgary, $4,475,000(01 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,475,000(02 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,475,000(03 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,475,000(04 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,475,000(05 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,475,000(06 of32)
This property is located on two acres looking straight at the mountains. It has over 6,000 sqft, a master bedroom and marbled spa,guest bedroom with en suite, an elevator and butler's pantry. (credit:Luxuryhomes.com)
Calgary, $4,500,000(07 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(08 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(09 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(10 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(11 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(12 of32)
This property has a gated entry and backs onto a Country Club. Features include a games room, wine room, a heated covered portico, with a built in barbecue and fireplace that overlooks the pool. (credit:Luxuryhomes.com)
Calgary, $4,500,000(13 of32)
This brand new French country home sits on two acres. It has over 9,000 developed sf, five bedrooms (four with ensuites), three fireplaces and over-sized garages for five vehicles. (credit:Luxuryhomes.com)
Calgary, $4,500,000(14 of32)
This brand new French country home sits on two acres. It has over 9,000 developed sf, five bedrooms (four with ensuites), three fireplaces and over-sized garages for five vehicles. (credit:Luxuryhomes.com)
Calgary, $4,500,000(15 of32)
This brand new French country home sits on two acres. It has over 9,000 developed sf, five bedrooms (four with ensuites), three fireplaces and over-sized garages for five vehicles. (credit:Luxuryhomes.com)
Calgary, $4,500,000(16 of32)
This brand new French country home sits on two acres. It has over 9,000 developed sf, five bedrooms (four with ensuites), three fireplaces and over-sized garages for five vehicles. (credit:Luxuryhomes.com)
Calgary, $4,500,000(17 of32)
This brand new French country home sits on two acres. It has over 9,000 developed sf, five bedrooms (four with ensuites), three fireplaces and over-sized garages for five vehicles. (credit:Luxuryhomes.com)
Calgary, $4,950,000(18 of32)
Private property located 10 minutes to Downtown Calgary. 6,500 sqft of living space perched on 4.25 acres backing onto Edworthy park over looking the river valley. Beautiful views of downtown and river from all levels. (credit:Luxuryhomes.com)
Calgary, $4,950,000(19 of32)
Private property located 10 minutes to Downtown Calgary. 6,500 sqft of living space perched on 4.25 acres backing onto Edworthy park over looking the river valley. Beautiful views of downtown and river from all levels. (credit:Luxuryhomes.com)
Calgary, $4,950,000(20 of32)
Private property located 10 minutes to Downtown Calgary. 6,500 sqft of living space perched on 4.25 acres backing onto Edworthy park over looking the river valley. Beautiful views of downtown and river from all levels. (credit:Luxuryhomes.com)
Calgary, $4,950,000(21 of32)
Private property located 10 minutes to Downtown Calgary. 6,500 sqft of living space perched on 4.25 acres backing onto Edworthy park over looking the river valley. Beautiful views of downtown and river from all levels. (credit:Luxuryhomes.com)
Calgary, $4,950,000(22 of32)
Private property located 10 minutes to Downtown Calgary. 6,500 sqft of living space perched on 4.25 acres backing onto Edworthy park over looking the river valley. Beautiful views of downtown and river from all levels. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(23 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(24 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(25 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(26 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(27 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Rural Rockyview County, $5,250,000(28 of32)
A former show home, this property is located on 2.13 landscaped acres. The house backs onto a lake and the property features its own beach and firepit area. Features of the home include over 10,000 developed square feet, a large gymnasium (45'x30'), an indoor pool, a main floor master suite, wine cellar, and walk-way to the pool and gymnasium areas. (credit:Luxuryhomes.com)
Calgary, $5,590,000(29 of32)
This brand new home has approximately 9,200 sq ft of living space. The house includes three bedrooms, a loft for a playroom or nanny, a wine cellar and a custom over-sized three car garage connected to home via underground hallway. (credit:Luxuryhomes.com)
Calgary, $5,590,000(30 of32)
This brand new home has approximately 9,200 sq ft of living space. The house includes three bedrooms, a loft for a playroom or nanny, a wine cellar and a custom over-sized three car garage connected to home via underground hallway. (credit:Luxuryhomes.com)
Calgary, $5,590,000(31 of32)
This brand new home has approximately 9,200 sq ft of living space. The house includes three bedrooms, a loft for a playroom or nanny, a wine cellar and a custom over-sized three car garage connected to home via underground hallway. (credit:Luxuryhomes.com)
Calgary, $5,590,000(32 of32)
This brand new home has approximately 9,200 sq ft of living space. The house includes three bedrooms, a loft for a playroom or nanny, a wine cellar and a custom over-sized three car garage connected to home via underground hallway. (credit:Luxuryhomes.com)
With files from the Canadian Press