Vancouver homes at rock-bottom prices.

[soulcougher73]

I know WHY it is that expensive (the land), but that really is irrelevant. Paying $700K for a small lot of land and then having to pay to have the house bulldozed and then to pay for another house to be built is even worse.

Yeah i dont think Eug was really helping his arguement with that one. It was bad enough at 700k, now to spend another million on top of that. LOL

 

[Gibsons]

I'd really like to see the specs on that house because at first glance, it is a dump compared to my place and I didn't pay $16 million for mine. As far as those other "modest" $700K homes in that article, I wouldn't let my dog live in them.

Here's another pic from the same house.

Wonder how big the back yard is.

 

[Eug]

3065 POINT GREY Road, Vancouver, V6K 1A7, British Columbia
MLS® ID# V964377
Listed at $15.8 million
4 Bedrooms
3 Bathrooms
3358 Square Feet
Lot size 8300 square feet (which is a big lot, but not huge)
8 minute drive to downtown Vancouver

http://www.realtor.ca/propertyDetails.aspx?&PropertyId=12258244&PidKey=20296825&Mode=5&Cul=1

BTW, the property tax alone is over $3500 per month. So, no, you probably couldn't afford to live there, even if someone gave you the property.

Also, it looks like they're selling it as a fixer upper. A $15.8 million fixer upper. Heh.

 

[Jeffg010]

Interesting so this is how they pay for their healthcare in Canada. Jack all the prices on properties so they can tax the hell out of it.

 

[jagec]

Interesting so this is how they pay for their healthcare in Canada. Jack all the prices on properties so they can tax the hell out of it.

LOL, you guessed it, all the speculators who are buying up the houses are secretly using government money to do so. Devious!

 

[KeithTalent]

Interesting so this is how they pay for their healthcare in Canada. Jack all the prices on properties so they can tax the hell out of it.

Erm...yeah.

Vancouver is retarded for real estate prices; everywhere else in the country is more reasonable than here. We even looked at places near Toronto and you can get a place nearly twice the size for what we paid for ours here, but then you'd have to live in Toronto. D:

KT

 

[bradley]

Vancouver home prices now make me scratch my head 1/3 as much as China's GDP ghost cities.

 

[Eug]

Interesting so this is how they pay for their healthcare in Canada. Jack all the prices on properties so they can tax the hell out of it.

Property taxes don't cover healthcare costs.

But again... Point Grey is a really, really expensive neighbourhood, and that property is a really, really expensive property even for that expensive neighbourhood.

Mind you it seems that $15.8 million is ridiculousness in pricing, because nobody seems to be biting.

I note that sometimes people throw out these ridiculous prices just to see what happens. Nearby where I live a property went up for sale at $5 million. By about a year later it was below $3 million IIRC, still sat there unsold.

 

[dennilfloss]

This is what $30 million gets you near Montreal. Comes on its own private island and looks way better.

Now THAT is a mansion. You could hold Eyes Wide Shut costume parties in there.

http://news.nationalpost.com/2012/0...e-most-expensive-property-for-sale-in-quebec/

 

[IronWing]

This is what $30 million gets you near Montreal. Comes on its own private island and looks way better.

Now THAT is a mansion. You could hold Eyes Wide Shut costume parties in there.

http://news.nationalpost.com/2012/0...e-most-expensive-property-for-sale-in-quebec/

TV's kind of small.





Is that statue herself?

 

[iGas]

The 10 Most Expensive Houses In Canada

1. Vancouer 31.9 M
2. Vancouver 28.8 M
3. Toronto 28 M
4. Toronto 23.9 M
5. Vancouver 21.9 M
6. Vancouver 19.8 M
7. Vancouver 19.6 M
8. Caledon, Ont. 19 M
9. Vancouver 18.9 M
10. Vancouver 17.8 M

$31.9 million

$31.9 million bargain for this dungeon

 

[iGas]

Update:

Real estate porn: The 15 most expensive homes in Canada

1. Vancouver 39.9 M
2. Vancouver 30 M
3. Montreal 27 M
4. Toronto 23.9 M
5. Whistler, BC 23 M
6. Oakville, ON 22 M
7. Vancouver 20 M
8. Vancouver 19.8 M
9. Vancouver 19.8 M
10. Victoria, BC 19.25 M (25 minutes from downtown)
11. Caledon, ON 19 M
12. Toronto 18.888 M
13. Vancouver 17.98 M
14. Vancovuer 17.9 M
15. Victoria 17.5 M (Victoria proper population 80,000 people. Greater Victoria 344,000)

 

[mshan]

Watching the Vancouver residential property market


"I am often asked about how to time a China slowdown. I am fortunate to be living here on the Canadian west coast in Vancouver where I have a bird's eye view of Asia and the Pacific Rim. In particular, I am monitoring the residential property market here in Vancouver (non-residents see Vancouver RE and then some http://fishyre.blogspot.ca/), where we are seeing some of the "leakage" from China. The market has slowed considerably here (via The Economic Analyst http://www.theeconomicanalyst.com/content/house-sales-october-better-not-quite-strong-reported ):

Despite the slowdown, the market continues to be over-priced on an absolute basis (see this comparison from Vancouver Condo Info of what you get for $2.5 million http://vancouvercondo.info/2012/11/cambie-fornia-compare-and-despair.html).

As the Chinese economy stabilizes and its growth revives, I will be watching the Vancouver residential property market as a secondary indicator of China's economic health. This will have important implications for the growth path of the global economy and for the commodity supercycle."

Original Link: http://seekingalpha.com/article/1022531-china-won-t-cause-a-commodity-crash-yet


Chinese Kleptocracy: http://seekingalpha.com/article/713691-china-beyond-the-hard-soft-landing-debate (overpriced land in Vancouver may be better investment than shoddily built apartment in China as place to try and save money)



Money Laundering by Gambling at Macau:

"Many come to elude China’s strict limits on the amount of yuan people can take out of the country. A government official who has embezzled state funds, for example, may arrange to gamble in Macau through a junket. When he arrives, his chips are waiting for him. When he cashes out, his winnings are paid in Hong Kong dollars, which he can stash in a bank in Hong Kong or take farther afield."

http://seekingalpha.com/article/319907-unofficial-money-fleeing-china (e. g. Sheldon Adelson and Las Vegas Sands?)

 

[silverpig]

This is what $30 million gets you near Montreal. Comes on its own private island and looks way better.

Now THAT is a mansion. You could hold Eyes Wide Shut costume parties in there.

http://news.nationalpost.com/2012/0...e-most-expensive-property-for-sale-in-quebec/

Kind of like a small Downton Abbey

 

[silverpig]

The 10 Most Expensive Houses In Canada

1. Vancouer 31.9 M
2. Vancouver 28.8 M
3. Toronto 28 M
4. Toronto 23.9 M
5. Vancouver 21.9 M
6. Vancouver 19.8 M
7. Vancouver 19.6 M
8. Caledon, Ont. 19 M
9. Vancouver 18.9 M
10. Vancouver 17.8 M

$31.9 million

$31.9 million bargain for this dungeon

Guh. I know a guy who built one of these (he was a construction labourer working on a friend's dad's house). The thing with these massive things is that they are often "designed" by the owner, and highly customized. Because these owners don't know shit about architecture or design, they create some god awful thing that no one else would ever want to buy.

 

[Imp]

I just had to bump this...

http://business.financialpost.com/2012/12/03/condo-buyers-unfazed-by-rising-fees/

The Toronto-Dominion Bank Group-sponsored survey by Environics Research Group contacted 609 residents in Montreal, Toronto, Calgary and Vancouver between Oct. 20 and 25. Respondents had to be currently living in a condo, had recently purchased a condo or were considering purchasing one.

Among the findings of the poll, released last week: 68% didn’t realize condo fees can increase at any time and 38% said they didn’t feel confident they could afford an increase.

This will end well.

 

[FallenHero]

3065 POINT GREY Road, Vancouver, V6K 1A7, British Columbia
MLS® ID# V964377
Listed at $15.8 million
4 Bedrooms
3 Bathrooms
3358 Square Feet
Lot size 8300 square feet (which is a big lot, but not huge)
8 minute drive to downtown Vancouver

http://www.realtor.ca/propertyDetails.aspx?&PropertyId=12258244&PidKey=20296825&Mode=5&Cul=1

BTW, the property tax alone is over $3500 per month. So, no, you probably couldn't afford to live there, even if someone gave you the property.

Also, it looks like they're selling it as a fixer upper. A $15.8 million fixer upper. Heh.

The fuck? Similar sized home and lot in Chicago burbs....I paid 276k. WOW.

 

[silverpig]

The fuck? Similar sized home and lot in Chicago burbs....I paid 276k. WOW.

Does it have beach front access in the backyard?

This is a home in one of the nicest neighbourhoods in the city.