We’re witnessing a striking shift in Vancouver and Toronto’s real estate landscapes. Toronto’s housing market has seen an 11% decline over the past year—the biggest drop among 23 global cities—and prices now sit nearly 30% below their peak, reflecting impacts from higher interest rates, the foreign-buyer ban, and a surge in available inventory. Vancouver, too, has experienced a 10% annual drop and is down 20% since 2022, with further softening on the horizon.
Having spent over 20 years immersed in every facet of real estate—from luxury home sales to hands-on custom builds—I recognize that these numbers represent more than just headlines. For clients, these changes can spark concern, but they also signal a rare moment to rethink strategy. With my background in both traditional luxury and the evolving multiplex sector, I see how shifting market forces and new policies can open doors for creative, value-driven development. Navigating these cycles isn’t just about weathering declines—it’s about uncovering new possibilities in an evolving market.
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