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Canada’s two priciest cities for homes can now be included in an international class that is attracting foreign investors from around the world, says a new real estate study.

The report from CBRE says “prime” residential property in Toronto is now $1,225 per square foot while Vancouver is $1,368 per square foot. Those dollar figures have vaulted the city past some pretty impressive competitors like Rome and Milan. Similar property in Paris is $2,000 per square foot while the most expensive city in the study, London, comes in at $3,636 per square foot.

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We’ve got some serious real estate here

“We’ve got some serious real estate here. Very quietly we have climbed the global real estate ladder,” said Ross Moore, national research director for CBRE in Canada. “There are a whole bunch of reasons people are buying property but parking capital is one reason. You get your money out of Russia, get your money out of China. Pick your country. You want to diversify. In Canada, people want to educate their kids here so they want to buy somewhere for them to live.”