Prices of private homes rose a third consecutive quarter, posting the steepest quarterly increase in more than two years. Sales of new private condominiums in the city fringe hit a seven-year high while more mass-market condominiums were sold last year when compared to the prevailing year. Housing demand was surprisingly vibrant last year despite lockdowns and travel restrictions. While the prime segment usually takes a bigger hit during an economic crisis, sales of luxury homes remained surprisingly resilient last year, underscoring the income growth of the wealthiest during the pandemic.