Personal Wealth Dept: The country’s richest residents – as well as millionaires from countries such as China and the United Kingdom – are turning to property to provide a safe haven for their money because the market is seen as a stable place to park cash as the global economy recovers from a deep recession. “It’s an astounding recovery compared to last year when people just slammed on the brakes,” said Michael Polzler, executive vice president and regional director of ReMax for Ontario and Atlantic Canada. A s the real estate market in Canada continues its record setting recovery, the market for high end homes is surging. Attributing the upswing in sales to “improved economic performance, increased personal wealth, immigration and foreign investment,” ReMax Canada said in a report Monday that sales for so called luxury homes broke records in nine of the 13 regions examined in the first quarter of the year. As
reported in the news.
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2.5.10
