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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Crash closes northbound traffic on Highway 97 near UBCO, detour through Academy Way

Traffic has been delayed after crash reported around 8:30 a.m. Friday morning

West Kelowna Warriors aim to continue first 3-game winning streak since 2018

The Warriors host the Surrey Eagles Friday night looking for win No. 4

West Kelowna bridge to close for three months

Work on Gellatly Road Bridge over Powers Creek described as ‘an essential infrastructure project’

Sub-zero Kelowna weather freezes clothing in just 45 minutes

A local photographer decided to have some fun with the frosty weather before its gone

Injury-riddled Rockets rally for U.S. roadtrip amidst 3-game losing streak

Kelowna sets off for a three-game road trip starting Friday against the Everett Silvertips

Fashion Fridays: Look your best this year

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

B.C. pair ordered to pay $55,000 for oil tank discovered four years after selling home

Judge says defendants breached contract, despite being unaware of tank until basement flooded

Canada to give $25,000 to families of each Canadian who died in Iran plane crash

Prime Minister Justin Trudeau also made it clear that Canada still expects Iran to compensate victims

Good Samaritan pays part of rent for B.C. woman facing eviction in can-collecting dispute

Zora Hlevnjak, 76, supplements her pension by collecting cans and receiving public donations

Oil and gas industry applauds top court’s dismissal of B.C.’s Trans Mountain case

The high court’s ruling Thursday removes one of the remaining obstacles for the project

VIDEO: Missing cat reunited with Vancouver Island family after three months

‘It was like one day she was there, the next day she was gone,’ said owner

Okanagan dusts off old grad dresses and tuxes for first ever Adult Prom

Literacy Society of North Okanagan “fun-raiser” brings back puffy sleeves and blue tuxedos

Most Read