Changing tax policy puts a chill on the ultraluxury housing market

by Carolyn Ireland

38 Park Lane Circle, a palatial eight-bedroom house, is listed with an asking price of $23.888-million. The current listing has been on the MLS for more than 60 days.

Sales in the luxury niche of Toronto real estate take place in their own rhythm, but the uncertainty permeating the overall market is also apparent at the high end.

At the same time, measures aimed at cooling the housing market during the high-octane run of a few years ago may be acting as a drag on sales now.

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