The World’s Hottest Luxury-Property Market Is a Sleepy Canadian City

The hottest market in the world for luxury real estate? Victoria, British Columbia.

Thanks to Chinese and U.S. buyers, the provincial capital of 85,000 off Canada’s Pacific Coast shot to the top of the “luxury thermometer” in the latest annual report from Christie’s International Real Estate. The study looked at the change in sales, price and time on the market from 2016 to 2017, converting to U.S. dollars and including factors such as “buying trends, destination preferences and lifestyle amenities” in its definition of luxury.