It’s official. The rumoured Mexit has been ratified by the Queen and real estate pundits are speculating as to where the famous couple will land. The question is, in fact, an interesting one as it shines a light on the complicated and diverse nature of our Canadian real estate market.
Vancouver, a potential location for the couple, is dubbed the Hollywood of the North. Unlike Hollywood inhabitants, however, “Vancouverites” are much more focused on healthy living, family and exploring the outdoors. This laid-back “west coast” vibe, while enticing, may be a bit too relaxed and remote for jet-setting Harry, Meghan and Archie. What is more, the family will have to compete with numerous (and wealthy) buyers who are getting back into the game as the market begins to heat up.
The most popular choice of freshly minted Canadians may be where Harry, Meghan and Archie end up – the fast-paced city of Toronto. A city that offers everything from sprawling mansions and exclusive condos to gritty urban neighbourhoods. Our agent, Katie Rennie, predicts that this young family will want to be close to friends and privacy – something that Moore Park boasts. Another possibility is that the family moves into the trendy neighbourhood of Queen West or the Annex, where Meghan previously lived. In fact, they choose some of Torontos “grittier” neighbourhoods in order to exclaim that they’ve broken the shackles of having a royal status and are now “just like you”.
Regardless, they will end up “just like” every Vancouver of Toronto buyer – searching for a listing and then competing with eager buyers as our inventory remains very low. Chris Kapches spoke to this issue during his interview with Sun Times, London.
Despite the fact that their battle to find a home may be greater than their battle to abdicate their royal duties, Harry and Meghan publicly choosing Canada exposes a fact that Canadians know, but are too humble to say: Canada is the world’s best-kept secret. No wonder there’s so much demand for our real estate.
Written by Natalka Falcomer, VP Corporate Development
