The most expensive home for sale in Canada is a condo in Coal Harbour.
The $58,888,000 penthouse at Three Harbour Green on Thurlow Street is right at the waterfront and has 360-degree views of the city, ocean and mountains.
It’s just over 8,000 square feet with four bedrooms and five bathrooms, plus two rooftop terraces and a balcony totalling 4,840 square feet. It also has a private seven-car garage.
Built in 2012, the property was last sold in 2014 for $16.6 million, meaning the latest listing price shows an increase of 254 per cent.
The condo is the only property listed at over $50 million in the country, and is one of only seven listed at over $30 million. Plus, there have only been five homes sold for over $20 million in Metro Vancouver in the last two years.
“If someone is looking to spend $50 million on a house, they will probably find a way to buy the home and likely negotiate part or all of the tax with the seller,” Gradecak said.
Even if a local buyer could put together a 20 per cent down payment on the condo – $11.7 million – they would still need to find about $118,000 bi-weekly for mortgage payments. That’s $2.8 million a year in payments.