Do you have a cool $20 million burning a hole your pocket?
Congratulations, you can afford the house at the bottom of this year’s 100 most expensive homes in Greater Vancouver, according to the latest report from BC Assessment.
The home itself is located at 1663 Marlow Place in West Vancouver and is assessed at $19,987,000.
And yes, we said the bottom of the list.
The most expensive property in the Greater Vancouver area – again – belongs to Lululemon founder, Chip Wilson. The house, located at 3085 Point Grey Road, weighed in this year at a cool $75.8 million, $11.95 million more than 2016.
Overall, total real estate value on the 2017 assessment roll increased by 25% over last year – an amount equal to about $1.68 trillion.
Out of the top 10 most expensvive homes in Greater Vancouver, nine of them are located on either Point Grey Road or Belmont Avenue.
Five Lower Mainland municipalities also all saw property increases totalling more than 16 % this year:
BC Assessment’s website includes more details about 2017 assessments, property information and trends such as lists of 2017’s top valued residential properties across the province.
“The majority of residential home owners within the region can expect a significant increase compared to last year’s assessment,” said Assessor Jason Grant. “Increases of 30% to 50% will be typical for single-family homes in Vancouver, North and West Vancouver, Burnaby, Tri-Cities, New Westminster, and Squamish.”
Grant added that if a property owner is concerned about their assessment, they can submit a Notice of Complaint by January 31.
A full list of the top 100 valued homes in Greater Vancouver is available here.