With an average annual wage of just over $52,000 in British Columbia, it is sometimes hard to comprehend that houses are currently for sale worth millions upon millions of dollars.
The most expensive property in the Okanagan is currently listed at just under $20 million, an exorbitant price tag for most and yet a whopping $40 million less than the most expensive home in B.C.
That honour is now held by Belmont Estate in Vancouver, the newest and most exclusive listing in B.C.
The Belmont set a record in the Vancouver real estate market with its price tag of $63 million. Situated on 1.28 acres, the elegant, custom-commissioned and designed 21,977 square-foot property is the family home of prominent billionaires Joseph and Rosalie Segal.
As most B.C. residents will attest, it is not cheap to buy real estate here – nine of the 10 most expensive properties in Canada are found within our provincial borders.
The ‘cheapest’ of those top 10 homes – an 8,500-square-foot mansion in North Vancouver listed at ‘just’ $25 million.
However, all those homes are found within or near the Lower Mainland.
In fact, no home in the Okanagan even came close to breaking into that top 10 list.
The top 10 most expensive homes in the Okanagan range from $7.995 to $19.999 million.
The most expensive listing has been sitting for sale for a number of years now. While it is the most expensive property on the market, researchers did note that its value is more in the 124 acres of land included, rather than the home itself.
Researchers at Point2 Homes just wrapped up their list of the 10 most expensive homes for sale in the Okanagan and Canada.
“The Canadian luxury real estate market definitely has a lot to offer,” writes Point2 Homes.
“Whether it’s ocean-bathed beauties or extravagant rural estates, modern mansions in flashy neighbourhoods or exclusive penthouses, the most northerly country in the Americas clearly caters to tastes of all sorts when it comes to high-end living.”