4702 1011 West Cordova Street, Vancouver. Listed at $38 million. Image: www.malcolmhasman.com

The priciest home for sale in Canada: A $38M Vancouver penthouse

Canada’s luxury real estate: The top 10 most expensive properties for sale right now

While the hot Canadian real estate market is increasingly making home ownership an impossible dream for most millennials, the luxury real estate market is noticeably cooling down.

The top eleven priciest homes in Canada are all pegged at more than $25 million, with a 6,600 square-foot Vancouver penthouse coming in at the top of the list.

Although these staggering prices are prohibitive for most people, compared to last year’s figures, the values for the most expensive homes in 2018 have toned down significantly.

The highest-priced home for sale in 2017 was Vancouver’s Belmont Estate, listed for $63 million, whereas this year’s No. 1 listing is PH02 – 1011 W. Cordova Street in Vancouver for a “mere” $38 million.

It is a 6,652 sq.ft., four bedroom, four-and-a-half bath penthouse atop the Fairmont Pacific Rim hotel.

With a $38-million price tag and annual property taxes of nearly $50,000, this penthouse is clearly reserved for the elite.

“This brilliantly designed two-level residence encompasses approximately 6,700 square feet of expansive living with over 2,900 additional square feet of outdoor courtyard and terraces all enjoying one of the most prized city, mountain and water views in the city,” reads the real estate listing.

Related: ‘Just’ $20M for the most expensive home in the Okanagan

The list of luxury homes is put together each year by researchers at Point2 Homes.

“The hefty price tags, going from $25 million to $38 million provide everything from heated pools and Jacuzzis, climate-controlled wine cellars and stylish kitchens to bespoke furniture, landscaped terraces, and stunning water, mountain or city views. In other words, these are the homes everyone is craving, but only the uber-rich can afford,” writes Point2 Homes.

Likely no surprise to real estate investors, six of the top 11 homes are located in B.C., while three are found in Ontario and two can be located in Quebec.

This year, Vancouver boasts three properties on the market that scream luxury, all of them in the top five.

“From home theatres with tiered seating and outdoor pools all the way to sophisticated chandeliers and marble floors, the Vancouver luxury real estate market has it all. Three more B.C. homes join their ranks this year: one in Surrey and one in Bute Inlet, both going for $28,800,000 and another one in Whistler ($25 million),” adds Point2 Homes.

There are many new entries in the top 10 this year, but the spectacular 68 Bridle Path in Toronto is not one of them – this stunning piece of luxury real estate was the fourth most expensive in 2017 and this year it simply went up two places (the price tag is stuck at $35 million).

Interestingly, the luxury real estate market is losing momentum in the Greater Toronto Area.

Compared to 2017, the sales of luxury homes in the GTA fell by nearly 68 per cent and prices that used to be red hot are now beginning to cool off.

Quebec made the list this year with two properties with asking prices hovering around $26 million.

Exceptional by any standard, the grand stone mansion at 41 Avenue Forden, Westmount is surrounded by 30,000 sq.ft. of private land, boasting an impressive terrace overlooking the massive pool, a gated driveway, and a luxurious tennis court.

If you’ve got the money to spend, and you need a boat load of it, luxury homes in Canada are plentiful.

“No matter what your dream home looks like, the Canadian luxury real estate market offers access to everything from forested, perfectly sheltered rural estates to sprawling, exclusive penthouses located in vibrant neighbourhoods.”

If you’re curious about last year’s Top 10 Most Expensive Homes in Canada, click here.

To report a typo, email:
newstips@kelownacapnews.com
.


@carmenweld
carmen.weld@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Boat sinks while moored at Rushbrook floats

Port Edward Harbour Authority will lift the boat before destroying it

PRMSA wins association of the year honours

The Prince Rupert Minor Softball Association was honoured in Kamploops on Oct. 20

Web Poll: Are you pleased with the 2018 election results?

Prince Rupert elected two new councillors and four incumbents, and Port Edward has a new mayor

Incumbents and acclaimed mayors win elections all across B.C.’s north

Fraser Lake saw their first female mayor elected

Mayoral results from across B.C.

Voters in 162 municipalities in B.C. set to elect mayor, council, school board and more

Canada Post strikes leaves small shops in the lurch as holidays approach: CFIB

Rotating strikes began in Victoria, Edmonton, Halifax and Windsor

Delivering the paper as a family

The Northern View is looking for newspaper carriers in Prince Rupert, join our team today

CFL playoff picture still muddled heading into weekend action

League revealed last week no fewer than 64 potential playoff permutations

New monitoring of vessel noise impact on endangered whales announced

Federal government to monitor underwater ship and mammal noise in B.C.’s Salish Sea

Used election signs could serve as emergency shelters, B.C. candidate says

Langley Township council hopeful wants to build one-person foul weather shelters for homeless

‘Violent’ Prince George man wanted on Canada-wide warrant

RCMP say the man has likely made his way to the Lower Mainland or another community

Liberals write off $6.3 billion in loans as part of money never to be collected

That includes student loans and a $2.6 billion write off that came through Export Development Canada

Trudeau, McKenna to announce compensation for federal carbon plan

Provinces that don’t have a carbon price of at least $20 per tonne of emissions will have Ottawa’s plan forced on them

Most Read