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Canada Housing Bubble: Toronto Named 'North America's New High-Rise Metropolis'

Toronto High-Rise Construction
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CP

Toronto’s condo construction boom has made the city “North America’s new high-rise metropolis,” says a study from a real estate research group that shows the city has more than twice as many high-rises under construction than New York.

In all, six of the ten cities in North America with the most high-rises being built are in Canada, according to the study from construction data mining company Emporis — including the Vancouver suburb of Richmond.

But Canada's dominance on the list may have as much to do with a lacklustre real estate market in the U.S. as it does with Canada's now-sputtering housing boom.

“Toronto's construction industry has seen a continuous upward trend over recent years. October 2012 alone saw 15 high-rise building sites more in Toronto than November 2011,” Emporis said in a press release. “In New York City in the same period, on the other hand, construction of high-rises decreased by just under a fifth, from 86 in September 2011 to 72 in October 2012.”

Vancouver took third place in the survey, trailing New York and Toronto.

STORY CONTINUES BELOW SLIDESHOW

Cities With The Most High-Rises Under Construction
8 [tie]: Richmond, British Columbia - 12 highrises(01 of10)
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As of Oct. 2012. Source: EmporisPhoto: The Canadian Press
8 [tie]: Ottawa, Ontario - 12 highrises(02 of10)
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As of Oct. 2012. Source: EmporisPhoto: Alamy
8 [tie]: Boston, Massachusetts - 12 highrises(03 of10)
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As of Oct. 2012. Source: EmporisPhoto: Alamy
7: Miami, Florida - 13 highrises(04 of10)
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As of Oct. 2012. Source: EmporisPhoto: Shutterstock
6: Calgary, Alberta - 13 highrises(05 of10)
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As of Oct. 2012. Source: EmporisPhoto: Alamy
5: Chicago, Illinois - 17 highrises(06 of10)
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As of Oct. 2012. Source: EmporisPhoto: Shutterstock
4: Montreal, Quebec - 20 highrises(07 of10)
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As of Oct. 2012. Source: EmporisPhoto: Alamy
3: Vancouver, British Columbia - 21 highrises(08 of10)
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As of Oct. 2012. Source: EmporisPhoto: Alamy
2: New York City - 72 highrises(09 of10)
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As of Oct. 2012. Source: EmporisPhoto: Shutterstock
1: Toronto - 147 highrises(10 of10)
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As of Oct. 2012. Source: EmporisPhoto: The Canadian Press

But how long Toronto remains the continent’s high-rise leader is in serious question. With sales volumes under pressure and prices flatlining, many market analysts say there is an oversupply of housing in the city, and potentially other Canadian markets.

Even as construction continues at a breakneck pace, sales volumes in the Toronto area are dropping rapidly. Industry group BILD reported earlier this week that total home sales in Toronto this year are down 23 per cent compared to 2011.

The growing disconnect between supply and demand in the housing market could have negative consequences for the economy if construction slows. Construction jobs amounted to more than 7.4 per cent of all employment in Canada in April of this year, compared to 4.2 per cent in the U.S. Even at the peak of its housing boom, U.S. construction employment never exceeded 6 per cent of all jobs. That makes Canada more vulnerable than the U.S. was to an economic slowdown if the housing market continues its recent decline.

Vancouver’s housing correction appears to be more advanced than Toronto’s. The city reported a 25-per-cent decline in house prices in August, year on year. U.S. housing market guru Robert Schiller, who is credited with predicting the housing bubble bust in the U.S., said that Vancouver’s housing market “looks like part of California,” referring to that state’s half-decade-long housing bubble bust.

The study also notes that, even if current trends continued for decades, Toronto would be unable to overtake New York for total number of high-rises.

"There are currently 6,009 completed high-rises in the city on the Hudson; Toronto, by contrast, has 2,501," the report noted.

With earlier reporting

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Toronto's Coolest New Condos
12 Degrees(01 of53)
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This 11-story building near Toronto's Queen West, developed by BSäR Group Of Companies and Prince Bay Developments, is meant to reflect the "building-block" feel of other buildings in the neighbourhood, such as the Art Gallery of Ontario and the Ontario College of Art and Design. Expected completion date: January 2013.
12 Degrees(02 of53)
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This 11-story building near Toronto's Queen West, developed by BSäR Group Of Companies and Prince Bay Developments, is meant to reflect the "building-block" feel of other buildings in the neighbourhood, such as the Art Gallery of Ontario and the Ontario College of Art and Design. Expected completion date: January 2013.
12 Degrees(03 of53)
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This 11-story building near Toronto's Queen West, developed by BSäR Group Of Companies and Prince Bay Developments, is meant to reflect the "building-block" feel of other buildings in the neighbourhood, such as the Art Gallery of Ontario and the Ontario College of Art and Design. Expected completion date: January 2013.
West Harbour City(04 of53)
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Completed in 2010, this building on Toronto's western lakeshore gives the city a new Gothic touch. Developed by Plazacorp and designed by Quadrangle Architects, the 36- and 28-story condo towers are quickly becoming a city landmark.
West Harbour City(05 of53)
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Completed in 2010, this building on Toronto's western lakeshore gives the city a new Gothic touch. Developed by Plazacorp and designed by Quadrangle Architects, the 36- and 28-story condo towers are quickly becoming a city landmark.
Hive Lofts on the Queensway(06 of53)
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Designed by Teeple Architects and developed by Symmetry Developments, this six-story low-rise will change the feel of Toronto's Queensway neighbourhood. Construction expected to be completed by May, 2013.
Hive Lofts on the Queensway(07 of53)
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Designed by Teeple Architects and developed by Symmetry Developments, this six-story low-rise will change the feel of Toronto's Queensway neighbourhood. Construction expected to be completed by May, 2013.
TCHC Block 32(08 of53)
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OK so this isn't exactly a condo tower -- it's a rental building being developed by the Toronto Community Housing Corporation. The 41-story apartment building is set to be completed in late 2012, and the building makes two important points: That rental aprtment buildings can have character; and that if designed properly, buildings can look cool in winter.
TCHC Block 32(09 of53)
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OK so this isn't exactly a condo tower -- it's a rental building being developed by the Toronto Community Housing Corporation. The 41-story apartment building is set to be completed in late 2012, and the building makes two important points: That rental aprtment buildings can have character; and that if designed properly, buildings can look cool in winter.
190OZ(10 of53)
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190OZ, to be located on Ossington Street in the city's west side, is another example of the "building block" style that is becoming popular in Toronto. Developed by Reserve Properties, the six-story building should be online in 2014.
190OZ(11 of53)
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190OZ, to be located on Ossington Street in the city's west side, is another example of the "building block" style that is becoming popular in Toronto. Developed by Reserve Properties, the six-story building should be online in 2014.
King West Condominiums(12 of53)
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This monstrous, three-pronged condo tower isn't slated to open until mid-2013, but its shadow is already changing Toronto's landscape. Developed by Plazacorp and designed by Quadrangle Architects, the building features a 20,000-square-foot fitness club and no fewer than two bowling alleys.
King West Condominiums(13 of53)
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This monstrous, three-pronged condo tower isn't slated to open until mid-2013, but its shadow is already changing Toronto's landscape. Developed by Plazacorp and designed by Quadrangle Architects, the building features a 20,000-square-foot fitness club and no fewer than two bowling alleys.
King West Condominiums(14 of53)
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This monstrous, three-pronged condo tower isn't slated to open until mid-2013, but its shadow is already changing Toronto's landscape. Developed by Plazacorp and designed by Quadrangle Architects, the building features a 20,000-square-foot fitness club and no fewer than two bowling alleys.
Edge on Triangle Park(15 of53)
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This 15-story building from Plazacorp and architects Tact Design brings European modernism to Toronto's Liberty Village neighbourhood. The big empty spaces in the building (note the gap on the right side of the main facade) create a "shine-through" effect that gives the building more than the usual amount of lighting. Completion slated for January, 2014.
Edge on Triangle Park(16 of53)
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This 15-story building from Plazacorp and architects Tact Design brings European modernism to Toronto's Liberty Village neighbourhood. The big empty spaces in the building (note the gap on the right side of the main facade) create a "shine-through" effect that gives the building more than the usual amount of lighting. Completion slated for January, 2014.
Studio on Richmond(17 of53)
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Aspen Ridge Homes is planning this futuristic (some would even say Blade Runner-ish) building complex for Toronto's repidly gentrifying downtown east side. Once completed, the complex will feature two towers -- one 41 stories, the other 31 stories. Another project from Quadrangle Architects, this one is slated for completion in January, 2015.
Studio on Richmond(18 of53)
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Aspen Ridge Homes is planning this futuristic (some would even say Blade Runner-ish) building complex for Toronto's repidly gentrifying downtown east side. Once completed, the complex will feature two towers -- one 41 stories, the other 31 stories. Another project from Quadrangle Architects, this one is slated for completion in January, 2015.
Studio on Richmond(19 of53)
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Aspen Ridge Homes is planning this futuristic (some would even say Blade Runner-ish) building complex for Toronto's repidly gentrifying downtown east side. Once completed, the complex will feature two towers -- one 41 stories, the other 31 stories. Another project from Quadrangle Architects, this one is slated for completion in January, 2015.
Fashion House(20 of53)
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Fashion House incorporates a heritage building on Toronto's King Street West into a modern condo and retail complex. Designed by Core Architects and developed by Freed Developments, the building is one of Toronto's most unique restorations of a historical building.
Fashion House(21 of53)
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Fashion House incorporates a heritage building on Toronto's King Street West into a modern condo and retail complex. Designed by Core Architects and developed by Freed Developments, the building is one of Toronto's most unique restorations of a historical building.
Fashion House(22 of53)
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Fashion House incorporates a heritage building on Toronto's King Street West into a modern condo and retail complex. Designed by Core Architects and developed by Freed Developments, the building is one of Toronto's most unique restorations of a historical building.
Emerald Park(23 of53)
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Yes, people will be living in the curvy parts at the top, and what a downward view they'll have. This condo complex in north Toronto (401 and Yonge St.) will feature twin 42- and 43-story towers, and is slated for completion in August, 2013. It was developed by Metropia, Pure Plaza, and the architect is Roy Varacalli.
Emerald Park(24 of53)
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Yes, people will be living in the curvy parts at the top, and what a downward view they'll have. This condo complex in north Toronto (401 and Yonge St.) will feature twin 42- and 43-story towers, and is slated for completion in August, 2013. It was developed by Metropia, Pure Plaza, and the architect is Roy Varacalli.
Emerald Park(25 of53)
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Yes, people will be living in the curvy parts at the top, and what a downward view they'll have. This condo complex in north Toronto (401 and Yonge St.) will feature twin 42- and 43-story towers, and is slated for completion in August, 2013. It was developed by Metropia, Pure Plaza, and the architect is Roy Varacalli.
X The Condominium(26 of53)
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Designed by architectsAlliance for Great Gulf Homes, this building is recognizable to many Torontonians as an homage to the smoky black TD Bank tower on the city's skyline. Interesting as the building is, we're hoping the trend doesn't catch on, or the city will become a forest of black rectangles.
X The Condominium(27 of53)
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Designed by architectsAlliance for Great Gulf Homes, this building is recognizable to many Torontonians as an homage to the smoky black TD Bank tower on the city's skyline. Interesting as the building is, we're hoping the trend doesn't catch on, or the city will become a forest of black rectangles.
X The Condominium(28 of53)
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Designed by architectsAlliance for Great Gulf Homes, this building is recognizable to many Torontonians as an homage to the smoky black TD Bank tower on the city's skyline. Interesting as the building is, we're hoping the trend doesn't catch on, or the city will become a forest of black rectangles.
The Schoolhouse Lofts(29 of53)
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The Schoolhouse is an example of creative urban land use. Once known as Loretto College, the building has been transformed from a school into a five-story loft and condo complex in the heart of Toronto's Annex neighbourhood. Designed by 3rd Uncle for Empire Communities, the building opened in March, 2010.
The Schoolhouse Lofts(30 of53)
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The Schoolhouse is an example of creative urban land use. Once known as Loretto College, the building has been transformed from a school into a five-story loft and condo complex in the heart of Toronto's Annex neighbourhood. Designed by 3rd Uncle for Empire Communities, the building opened in March, 2010.
The Schoolhouse Lofts(31 of53)
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The Schoolhouse is an example of creative urban land use. Once known as Loretto College, the building has been transformed from a school into a five-story loft and condo complex in the heart of Toronto's Annex neighbourhood. Designed by 3rd Uncle for Empire Communities, the building opened in March, 2010.
Seventy5 Portland(32 of53)
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Another building from Freed Developments and Core Architects, this low-rise near King and Bathurst has garnered a lot of attention for its irregular rectangular patterns. The 10-story condo building opened in 2010.
Seventy5 Portland(33 of53)
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Another building from Freed Developments and Core Architects, this low-rise near King and Bathurst has garnered a lot of attention for its irregular rectangular patterns. The 10-story condo building opened in 2010.
Market Wharf(34 of53)
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Architect Peter Clewes' project near St. Lawrence Market on the east side of downtown has gotten a lot of attention for blending a style that evokes the surrounding historic buildings, while throwing a modernist tower -- complete with crazy, wavy balconies -- into the city skyline. Developed by Context Developments, the building opened in 2012.
Market Wharf(35 of53)
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Architect Peter Clewes' project near St. Lawrence Market on the east side of downtown has gotten a lot of attention for blending a style that evokes the surrounding historic buildings, while throwing a modernist tower -- complete with crazy, wavy balconies -- into the city skyline. Developed by Context Developments, the building opened in 2012. (Photo: Tact Design)
Market Wharf(36 of53)
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Architect Peter Clewes' project near St. Lawrence Market on the east side of downtown has gotten a lot of attention for blending a style that evokes the surrounding historic buildings, while throwing a modernist tower -- complete with crazy, wavy balconies -- into the city skyline. Developed by Context Developments, the building opened in 2012. (Photo: Tact Design)
Theatre Park(37 of53)
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One of the coolest aspects of this very noticeable building is how not noticeable at all it is at ground level -- it appears to be just another small building on King Street West. Designed by architectsAlliance for Lamb Developments, the building is slated for completion in 2013.
Theatre Park(38 of53)
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One of the coolest aspects of this very noticeable building is how not noticeable at all it is at ground level -- it appears to be just another small building on King Street West. Designed by architectsAlliance for Lamb Developments, the building is slated for completion in 2013.
Theatre Park(39 of53)
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One of the coolest aspects of this very noticeable building is how not noticeable at all it is at ground level -- it appears to be just another small building on King Street West. Designed by architectsAlliance for Lamb Developments, the building is slated for completion in 2013.
The Printing Factory(40 of53)
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Another example of creative land use, this time in Leslieville on the city's east side. Architects Chandler Graham and Montgomery Sisam redesigned this defunct factory into modern lofts for Beaverbrook Homes, adding a tower that rises from the centre of the old print shop. The condo complex opened in 2010.
The Printing Factory(41 of53)
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Another example of creative land use, this time in Leslieville on the city's east side. Architects Chandler Graham and Montgomery Sisam redesigned this defunct factory into modern lofts for Beaverbrook Homes, adding a tower that rises from the centre of the old print shop. The condo complex opened in 2010.
Picasso(42 of53)
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This may well become the most iconic of Toronto's new generation of "building block" condos, rising above Richmond Street West, near similarly lego-shaped buildings like OCAD. Teeple Architects designed this for Monarch and the Goldman Group, and the building is slated to finish construction in January, 2015.
Picasso(43 of53)
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This may well become the most iconic of Toronto's new generation of "building block" condos, rising above Richmond Street West, near similarly lego-shaped buildings like OCAD. Teeple Architects designed this for Monarch and the Goldman Group, and the building is slated to finish construction in January, 2015.
Pier 27(44 of53)
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Four 14-story buildings, connected by skywalks, are at the heart of what may be the most bold and unique condo development in Canada -- Pier 27, which is currently under construction and is already changing the face of Toronto's grimy eastern lakeshore. Designed by architectsAlliance for Cityzen and Fernnbrook Homes. Watch for this building to win awards.
Pier 27(45 of53)
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Four 14-story buildings, connected by skywalks, are at the heart of what may be the most bold and unique condo development in Canada -- Pier 27, which is currently under construction and is already changing the face of Toronto's grimy eastern lakeshore. Designed by architectsAlliance for Cityzen and Fernnbrook Homes. Watch for this building to win awards.
Pier 27(46 of53)
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Four 14-story buildings, connected by skywalks, are at the heart of what may be the most bold and unique condo development in Canada -- Pier 27, which is currently under construction and is already changing the face of Toronto's grimy eastern lakeshore. Designed by architectsAlliance for Cityzen and Fernnbrook Homes. Watch for this building to win awards.
The L-Tower(47 of53)
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Designed by world-renowned architect Daniel Liebeskind, this 58-story condo tower will rise above the Sony Centre for the Performing Arts on Front Street. Being so close to the business district, the building's unique shape (it grows wider at the top, leaning out onto the street) will alter the city skyline permanently. The original design for the building called for a large open hole at the base of the "L" shape, but more recent illustrations suggest that part of the plan has been scaled back.
L-Tower(48 of53)
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Designed by world-renowned architect Daniel Liebeskind, this 58-story condo tower will rise above the Sony Centre for the Performing Arts on Front Street. Being so close to the business district, the building's unique shape (it grows wider at the top, leaning out onto the street) will alter the city skyline permanently. The original design for the building called for a large open hole at the base of the "L" shape, but more recent illustrations suggest that part of the plan has been scaled back.
L-Tower(49 of53)
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Designed by world-renowned architect Daniel Liebeskind, this 58-story condo tower will rise above the Sony Centre for the Performing Arts on Front Street. Being so close to the business district, the building's unique shape (it grows wider at the top, leaning out onto the street) will alter the city skyline permanently. The original design for the building called for a large open hole at the base of the "L" shape, but more recent illustrations suggest that part of the plan has been scaled back.
L-Tower(50 of53)
Open Image Modal
Designed by world-renowned architect Daniel Liebeskind, this 58-story condo tower will rise above the Sony Centre for the Performing Arts on Front Street. Being so close to the business district, the building's unique shape (it grows wider at the top, leaning out onto the street) will alter the city skyline permanently. The original design for the building called for a large open hole at the base of the "L" shape, but more recent illustrations suggest that part of the plan has been scaled back.
Absolute World(51 of53)
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The Absolute Towers at Mississauga's Square One (also known as the "Marilyn Monroe" towers) are arguably the most celebrated new buildings in the Toronto area, having won an award for "Best Tall Building in the Americas" for 2012. Designed by MAD Architects for Cityzen and Fernbrook Homes, the twin buildings were completed in late 2011. So it appears that Mississauga's long struggle to climb out of Toronto's shadow may have borne some fruit at last.
Absolute Towers(52 of53)
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The Absolute Towers at Mississauga's Square One (also known as the "Marilyn Monroe" towers) are arguably the most celebrated new buildings in the Toronto area, having won an award for "Best Tall Building in the Americas" for 2012. Designed by MAD Architects for Cityzen and Fernbrook Homes, the twin buildings were completed in late 2011. So it appears that Mississauga's long struggle to climb out of Toronto's shadow may have borne some fruit at last.(Photo: MAD Architects)
Absolute Towers(53 of53)
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The Absolute Towers at Mississauga's Square One (also known as the "Marilyn Monroe" towers) are arguably the most celebrated new buildings in the Toronto area, having won an award for "Best Tall Building in the Americas" for 2012. Designed by MAD Architects for Cityzen and Fernbrook Homes, the twin buildings were completed in late 2011. So it appears that Mississauga's long struggle to climb out of Toronto's shadow may have borne some fruit at last.
Most Expensive Houses For Sale In Canada
Newfoundland: $2.5 Million(01 of32)
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This surprisingly modest house at 34 Battery Road in St. John's is a historic property dating back to the 1870s. The six-bedroom, 3,500-square-foot house overlooks St. John's Harbour and suggests that, on the Rock, even the wealthy are down-to-earth.Source: Re/Max
Newfoundland: $2.5 Million(02 of32)
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This surprisingly modest house at 34 Battery Road in St. John's is a historic property dating back to the 1870s. The six-bedroom, 3,500-square-foot house overlooks St. John's Harbour and suggests that, on the Rock, even the wealthy are down-to-earth.Source: Re/Max
Newfoundland: $2.5 Million(03 of32)
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This surprisingly modest house at 34 Battery Road in St. John's is a historic property dating back to the 1870s. The six-bedroom, 3,500-square-foot house overlooks St. John's Harbour and suggests that, on the Rock, even the wealthy are down-to-earth.Source: Re/Max
Prince Edward Island: $6.9 Million(04 of32)
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If Anne of Green Gables were around today sh'ed probably want to switch up her seven-gabled house for this 13,000-square-foot home that overlooks the red-earth bluffs of P.E.I.'s north coast. Six bedrooms and nine bathrooms feature in this house that sits on 11 acres of land.Source: Century 21 Northumberland
Prince Edward Island: $6.9 Million(05 of32)
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If Anne of Green Gables were around today sh'ed probably want to switch up her seven-gabled house for this 13,000-square-foot home that overlooks the red-earth bluffs of P.E.I.'s north coast. Six bedrooms and nine bathrooms feature in this house that sits on 11 acres of land.Source: Century 21 Northumberland
Prince Edward Island: $6.9 Million(06 of32)
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If Anne of Green Gables were around today sh'ed probably want to switch up her seven-gabled house for this 13,000-square-foot home that overlooks the red-earth bluffs of P.E.I.'s north coast. Six bedrooms and nine bathrooms feature in this house that sits on 11 acres of land.Source: Century 21 Northumberland
New Brunswick: $2.5 Million(07 of32)
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You can really get some space for your money in New Brunswick. This 20-bedroom, 11-bathroom resort in Alma, N.B. — composed of three buildings including a chalet — sits on no fewer than 450 acres of land, next to Fundy National Park. There is a 40-acre man-made lake on the property, as well as four islands, picnic areas, row boats, paddle boats, tennis courts amd two garages.Source: Royal LePage Moncton
New Brunswick: $2.5 Million(08 of32)
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You can really get some space for your money in New Brunswick. This 20-bedroom, 11-bathroom resort in Alma, N.B. — composed of three buildings including a chalet — sits on no fewer than 450 acres of land, next to Fundy National Park. There is a 40-acre man-made lake on the property, as well as four islands, picnic areas, row boats, paddle boats, tennis courts amd two garages.Source: Royal LePage Moncton
New Brunswick: $2.5 Million(09 of32)
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You can really get some space for your money in New Brunswick. This 20-bedroom, 11-bathroom resort in Alma, N.B. — composed of three buildings including a chalet — sits on no fewer than 450 acres of land, next to Fundy National Park. There is a 40-acre man-made lake on the property, as well as four islands, picnic areas, row boats, paddle boats, tennis courts amd two garages.Source: Royal LePage Moncton
Nova Scotia: $6.7 Million(10 of32)
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This newly-built, 6,000-square-foot house in Ketch Harbour, N.S., sits on the granite shoreline of the Atlantic Ocean and features "a series of interlocking pavilions constructed of reinforced concrete and window walls of star fire glass to capture the amazing, endless ocean views," as the realtor describes it. Only three bedrooms in this house, but what a view.Source: Tradewinds Realty
Nova Scotia: $6.7 Million(11 of32)
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This newly-built, 6,000-square-foot house in Ketch Harbour, N.S., sits on the granite shoreline of the Atlantic Ocean and features "a series of interlocking pavilions constructed of reinforced concrete and window walls of star fire glass to capture the amazing, endless ocean views," as the realtor describes it. Only three bedrooms in this house, but what a view.Source: Tradewinds Realty
Nova Scotia: $6.7 Million(12 of32)
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This newly-built, 6,000-square-foot house in Ketch Harbour, N.S., sits on the granite shoreline of the Atlantic Ocean and features "a series of interlocking pavilions constructed of reinforced concrete and window walls of star fire glass to capture the amazing, endless ocean views," as the realtor describes it. Only three bedrooms in this house, but what a view.Source: Tradewinds Realty
Quebec: $18.9 Million(13 of32)
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The realtor selling this property suggests you may want to build a heliport to get to this 200-acre estate located in a secluded corner of Quebec's eastern townships. There are several houses on this site, the main one being built in 1927. Another building is described as a "three-season chalet" and is located next to the 120-foot dock on Lake Mephramagog. The property features multiple garages, including a 40-foot-long one. The whole place is so ritzy that a barn on the property was declared a historical site.Source: Centris
Quebec: $18.9 Million(14 of32)
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The realtor selling this property suggests you may want to build a heliport to get to this 200-acre estate located in a secluded corner of Quebec's eastern townships. There are several houses on this site, the main one being built in 1927. Another building is described as a "three-season chalet" and is located next to the 120-foot dock on Lake Mephramagog. The property features multiple garages, including a 40-foot-long one. The whole place is so ritzy that a barn on the property was declared a historical site.Source: Centris
Quebec: $18.9 Million(15 of32)
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The realtor selling this property suggests you may want to build a heliport to get to this 200-acre estate located in a secluded corner of Quebec's eastern townships. There are several houses on this site, the main one being built in 1927. Another building is described as a "three-season chalet" and is located next to the 120-foot dock on Lake Mephramagog. The property features multiple garages, including a 40-foot-long one. The whole place is so ritzy that a barn on the property was declared a historical site.Source: Centris
Ontario: $17.9 Million(16 of32)
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This six-bedroom house sits on the shores of Lake Ontario in Oakville, near Toronto. Situated on 3.2 acres, it has 185 feet of waterfront and a boat house. The property features a triple car garage, a foyer of Italian limestone and a two-story living room. Security cameras can be controlled by way of a security panel. And the view from the back-yard pool can't be beat. Source: Re/Max Aboutowne
Ontario: $17.9 Million(17 of32)
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This six-bedroom house sits on the shores of Lake Ontario in Oakville, near Toronto. Situated on 3.2 acres, it has 185 feet of waterfront and a boat house. The property features a triple car garage, a foyer of Italian limestone and a two-story living room. Security cameras can be controlled by way of a security panel. And the view from the back-yard pool can't be beat. Source: Re/Max Aboutowne
Ontario: $17.9 Million(18 of32)
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This six-bedroom house sits on the shores of Lake Ontario in Oakville, near Toronto. Situated on 3.2 acres, it has 185 feet of waterfront and a boat house. The property features a triple car garage, a foyer of Italian limestone and a two-story living room. Security cameras can be controlled by way of a security panel. And the view from the back-yard pool can't be beat. Source: Re/Max Aboutowne
Manitoba: $2.9 Million(19 of32)
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That this 6,000-square-foot house is listed at $2.9 million is a testament to the (relative) affordability of Winnipeg real estate. "On entry you are greeted by an impressive foyer, soaring ceilings, curved staircase and grand principal rooms that are perfectly suited to entertaining," the realtor fawns. The four-bedroom house features an office and a media room, among many other amenities.Source: Royal LePage Dynamic
Manitoba: $2.9 Million(20 of32)
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That this 6,000-square-foot house is listed at $2.9 million is a testament to the (relative) affordability of Winnipeg real estate. "On entry you are greeted by an impressive foyer, soaring ceilings, curved staircase and grand principal rooms that are perfectly suited to entertaining," the realtor fawns. The four-bedroom house features an office and a media room, among many other amenities.Source: Royal LePage Dynamic
Manitoba: $2.9 Million(21 of32)
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That this 6,000-square-foot house is listed at $2.9 million is a testament to the (relative) affordability of Winnipeg real estate. "On entry you are greeted by an impressive foyer, soaring ceilings, curved staircase and grand principal rooms that are perfectly suited to entertaining," the realtor fawns. The four-bedroom house features an office and a media room, among many other amenities.Source: Royal LePage Dynamic
Manitoba: $2.9 Million(22 of32)
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That this 6,000-square-foot house is listed at $2.9 million is a testament to the (relative) affordability of Winnipeg real estate. "On entry you are greeted by an impressive foyer, soaring ceilings, curved staircase and grand principal rooms that are perfectly suited to entertaining," the realtor fawns. The four-bedroom house features an office and a media room, among many other amenities.Source: Royal LePage Dynamic
Saskatchewan: $2.7 Million(23 of32)
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Four bedrooms, seven bathrooms and three outdoor decks feature in this 4,600-square-foot home in Saskatoon. The coolest feature in this house may be the split staircase to second floor. The basement media room features an ornate bar and a huge projection screen.Source: Sutton Group Saskatoon
Saskatchewan: $2.7 Million(24 of32)
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Four bedrooms, seven bathrooms and three outdoor decks feature in this 4,600-square-foot home in Saskatoon. The coolest feature in this house may be the split staircase to second floor. The basement media room features an ornate bar and a huge projection screen.Source: Sutton Group Saskatoon
Saskatchewan: $2.7 Million(25 of32)
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Four bedrooms, seven bathrooms and three outdoor decks feature in this 4,600-square-foot home in Saskatoon. The coolest feature in this house may be the split staircase to second floor. The basement media room features an ornate bar and a huge projection screen.Source: Sutton Group Saskatoon
Saskatchewan: $2.7 Million(26 of32)
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Four bedrooms, seven bathrooms and three outdoor decks feature in this 4,600-square-foot home in Saskatoon. The coolest feature in this house may be the split staircase to second floor. The basement media room features an ornate bar and a huge projection screen.Source: Sutton Group Saskatoon
Alberta: $12.7 Million(27 of32)
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This house, featured in Architectural Digest, sits in beautiful Canmore, on the edge of the Rockies, and has six bedrooms and 10 baths. The property features multiple "outdoor living rooms" (think ornate decks) to enjoy the view. For those into medieval intrigue, there is a hidden staircase running to the underground wine cellar.Source: Royal LePage Foothills
Alberta: $12.7 Million(28 of32)
Open Image Modal
This house, featured in Architectural Digest, sits in beautiful Canmore, on the edge of the Rockies, and has six bedrooms and 10 baths. The property features multiple "outdoor living rooms" (think ornate decks) to enjoy the view. For those into medieval intrigue, there is a hidden staircase running to the underground wine cellar.Source: Royal LePage Foothills
Alberta: $12.7 Million(29 of32)
Open Image Modal
This house, featured in Architectural Digest, sits in beautiful Canmore, on the edge of the Rockies, and has six bedrooms and 10 baths. The property features multiple "outdoor living rooms" (think ornate decks) to enjoy the view. For those into medieval intrigue, there is a hidden staircase running to the underground wine cellar.Source: Royal LePage Foothills
British Columbia: $34 Million(30 of32)
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The most expensive house in Canada's priciest (and fastest-falling) real estate market features four bedrooms and six baths on 8,500 square feet, as well as a very cool boat house. But in a sign of the weakening of Vancouver's housing market, this property in ritzy West Vancouver has been on the market for some time — it featured as the most expensive house for sale in all of Canada the last time we put together this survey, in June 2012.Source: Angell Hasman Realty
British Columbia: $34 Million(31 of32)
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The most expensive house in Canada's priciest (and fastest-falling) real estate market features four bedrooms and six baths on 8,500 square feet, as well as a very cool boat house. But in a sign of the weakening of Vancouver's housing market, this property in ritzy West Vancouver has been on the market for some time — it featured as the most expensive house for sale in all of Canada the last time we put together this survey, in June 2012.Source: Angell Hasman Realty
British Columbia: $34 Million(32 of32)
Open Image Modal
The most expensive house in Canada's priciest (and fastest-falling) real estate market features four bedrooms and six baths on 8,500 square feet, as well as a very cool boat house. But in a sign of the weakening of Vancouver's housing market, this property in ritzy West Vancouver has been on the market for some time — it featured as the most expensive house for sale in all of Canada the last time we put together this survey, in June 2012.Source: Angell Hasman Realty

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