One day you’re Canada’s most expensive house, the next you’re just a teardown on a ritzy piece of land. A seaside property located at 4749 Belmont Avenue in the posh Point Grey neighourhood of Vancouver, BC, has been listed for whopping $25,800,000 CAD. The 1.197-acre water-view lot included a 2,600 square foot teardown with 4 bedrooms & 3 bathrooms. The list price back in November 2013 was $22,800,000 CAD. According to Vancouver-based Pricey Pads, you could purchase nine historic French château mansions for the price of one Point Grey tear down.
At $25,800,000 CAD the ad now says, “The best opportunity, once in a life time!” It also mentions, “Dutch Colonial style house with 4 bedrooms up with comfortable layout,” and closes with “Don’t miss this best value land in Vancouver and celebrate your own slice of paradise by erecting ‘your own’ tailor made mansion.” For those of you not familiar with the area, this property is not waterfront. This is strictly a waterview lot. That means that lot increased in value $16,483 every day since November 2013. Welcome to Vancouver, the land of unaffordable real estate.
