Photos: At $46 million, Canada's most expensive house (listing) is in Vancouver
Of the top most expensive homes in Canada, seven are in British Columbia. But some of the listings may not be realistic
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The most expensive house in Canada — listed at $46 million — is a stately heritage home being sold together with two smaller houses in Vancouver’s Shaughnessy neighbourhood.
But with a combined assessed value of just $15 million and restrictions on what can be built in the wealthy, heritage-protected area, that listing price may be highly aspirational.
“I don’t know how these realtors paint what a luxury home is,” said Vancouver realtor David Hutchinson, noting the three lots in question are owned by three different owners, yet zoning restrictions would likely prevent subdivision or building a multi-family development.
“They just seem to stick a price on it and if the price sticks, they had a sale. In the past they had a pretty good shot at it.”
Just one house over $10 million has sold in the past three months, Hutchinson said. Some of the houses on the list, compiled by real estate website Point2Homes, have been listed, but not sold, for several years now, he added.
Hutchinson does not sell luxury homes, but he does sell multi-million single family detached houses on Vancouver’s pricy Westside and East Vancouver. He’s recently been showcasing on Twitter examples of houses that have sold for hundreds of thousands of dollars less than previously listed, a price decline trend that began happening after the provincial government introduced a tax on foreign buyers in Metro Vancouver in July 2016.
People seem to find the information useful, Hutchinson said, and he thinks it gives some hope to buyers who were previously completely priced out during a “wild west” run-up in prices between 2015 and 2016.
“A nice Point Grey home that sells for $2.4 million and it’s tax-assessed at 3.3, that gives hope for the buyer that there is a chance to get in,” Hutchinson said.
“It’s expensive for sure, but it’s not like last year where that house would have been a lot more expensive and not approachable for a lot of buyers.”
In response to an interview request, Manyee Lui, the realtor listing the property, wrote: "The sellers are very private people. We cannot disclose the property details except to prospective buyers only."
Canada's other most expensive homes are listed below.