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Developer Bruce Strebinger Discusses the Recent Surge in Super Luxury Home Building

Super-luxury home sales are booming. Developer Bruce Strebinger of Vancouver, British Columbia

VANCOUVER, BRITISH COLUMBIA, CANADA, May 6, 2022 / -- Super-luxury home sales are booming. Developer Bruce Strebinger of Vancouver, British Columbia, explained that sales surged in 2021 and will continue to do so in 2022.

"People were forced to spend more time at home due to the COVID-19 pandemic, and they realize they want more luxuries," Strebinger said.

Strebinger explained that super-luxury home sales escalated by more than 35 percent in the United States in 2021. The Greater Toronto Area saw a 276 percent increase in sales of properties costing $4 million or more. Ultra-luxury properties, costing more than 10 million each, saw a 114 percent rise in sales.

Low-Interest Rates

Strebinger attributed some sales to low-interest rates, even for the extremely rich. He explained that lower interest rates mean more expensive homes, so those lower interest rates are causing prices to spike. In Canada, the most popular luxury real estate markets are in Strebinger's home cities of Vancouver and Montreal, and Calgary.

A Better Home Life

The COVID-19 pandemic pushed people indoors for more time than ever before. This led to individuals realizing they could live with more luxuries, a larger home office, and more outdoor space.

"Individuals and families are looking for more living space," Strebinger said. "They want more freedom to roam about their home and grounds."

Bruce Strebinger attributed this phenomenon to the pandemic. People now realize that a pandemic can occur, and they may be locked in their homes with their loved ones again. They're preparing for future events that could be similar.

Strebinger added that people are showing more interest in larger expanses of property and more scenic areas. They want to be outdoors and enjoy recreational activities if another pandemic or other emergency forces them to stay home.

"People are on the hunt for single-family homes because these often mean more outdoor space and privacy," Strebinger said. "They want a private pool and other amenities, so they can't become off-limits."

Bruce Strebinger and the Luxury Market

Bruce Strebinger has been a successful entrepreneur for more than 23 years. He began by building and renovating homes and multi-family units. He now specializes in real estate development, including financing luxury single-family homes.

Strebinger believes the super-luxury market will continue to grow as the wealth gap widens. He states that the extremely wealthy show a common trend of investing in tangible assets rather than financial instruments.

"I predict we'll continue to see the ultra-rich buying more luxurious properties on larger expanses of land," Strebinger concluded. "They want to have more control over their lives and finances should another global pandemic or other major turning points occur."

Strebinger and his team are eager to help individuals in the Vancouver area locate their dream homes.

Caroline Hunter
Web Presence, LLC
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