9 unsold luxury homes in Vancouver being rented for cheap (PHOTOS)
In recent months, the changing climate of Metro Vancouver’s housing market has been raising some eyebrows, especially with the city’s luxury housing sector.
See also
- 19 examples of Metro Vancouver homes listed and sold at shattering losses (PHOTOS)
- Seattle rental home listings offering $2,000 gift cards and months of free rent
- 'It is a great time to buy' luxury real estate in Vancouver: report
- Luxury home sales in Vancouver plummeted in 2018: report
- Report: Vancouver sees world's biggest drop in luxury home prices
The market for upscale homes has been falling to the extent that Vancouver saw the largest year-over-year price decrease in luxury real estate last year; there is ample unsold inventory, and movement has been stagnant.
Increasingly, many of these multi-million dollar homes that have remained unsold are ending up on the rental market, with homeowners doing what they can to avoid a 1% Empty Homes Tax imposed by the City of Vancouver and a new 0.5% vacancy tax being implemented by the provincial government starting this spring.
In theory, these multi-bedroom properties — not including other rooms that could be converted into make-shift bedrooms — could be suitable for post-secondary students seeking more affordable housing options or even just available rental housing, considering the vacancy rate is currently sitting at less than 1%.
There are hundreds of luxury home properties listed for rental on numerous websites — here is a small sample from mainly Craigslist:
1. 6-bedroom Southwest Marine Drive home for $5,000 per month
- Bathrooms: 5
- Special amenities: ample common areas
- Total floor area: 4,815 sq. ft.
- Lot size: 36,000 sq. ft.
1850 Southwest Marine Drive, Vancouver. (Craigslist)
2. 8-bedroom First Shaughnessy home for $13,800 per month
- Number of bathrooms: 7.5
- Special amenities: home theatre
- Total floor area: 7,520 sq. ft.
- Lot size: n/a (address not listed)
Connaught Drive property in Vancouver. (Craigslist)
3. 5-bedroom Drummond Drive home for $11,995 per month
- Number of bathrooms: 4
- Special amenities: large outdoor spaces
- Total floor area: 5,800 sq. ft.
- Lot size: 26,000 sq. ft.
Drummond Drive home in Vancouver. (Craigslist)
4. 8-bedroom Southwest Marine Drive home with pool for $11,800 per month
- Number of bathrooms: 9
- Special amenities: outdoor pool, hot tub, spa, sauna, fitness room, basketball court, garden, games room
- Total floor area: 10,096 sq. ft.
- Lot size: 27,000 sq. ft.
Southwest Marine Drive home, Vancouver. (Craigslist)
5. 4-bedroom Macdonald Street home near Southwest Marine Drive for $8,000 per month
- Number of bathrooms: 5
- Special amenities: Large patio, significant landscaping
- Total floor area: 6,000 sq. ft.
- Lot size: 14,250 sq. ft.
Home on Macdonald Street near Southwest Marine Drive. (Craigslist)
6. 6-bedroom South Vancouver home for $8,500 per month
- Number of bathrooms: 7.5
- Special amenities: home theatre, hot tub, corn plantings
- Total floor area: 7,100 sq. ft.
- Lot size: 17,700 sq. ft.
6533 Marguerite Street, Vancouver. (W Brothers Real Estate)
7. 5-bedroom First Shaughnessy home for $8,000 per month
- Number of bathrooms: 5.5
- Special amenities: Large patio, entertainment basement with media room
- Total floor area: 5,978 sq. ft.
- Lot size: n/a
First Shaughnessy Tudor mansion. (Craigslist)
8. 4-bedroom Shaughnessy home for $6,300 per month
- Number of bathrooms: 3
- Special distinction: A residence of a former BC Lieutenant Governor
- Total floor area: 5,562 sq. ft.
- Lot size: 17,000 sq. ft.
1691 West 40th Avenue, Vancouver. (W Brothers Real Estate Team)
9. 10-bedroom South Vancouver home for $7,000 per month
- Number of bathrooms: 9 bathrooms
- Special amenities: media room, recreation room, study room
- Total floor area: 6,216 sq. ft.
- Lot size: n/a
6983 Churchill Road, Vancouver. (Craigslist)
See also
- 19 examples of Metro Vancouver homes listed and sold at shattering losses (PHOTOS)
- Seattle rental home listings offering $2,000 gift cards and months of free rent
- 'It is a great time to buy' luxury real estate in Vancouver: report
- Luxury home sales in Vancouver plummeted in 2018: report
- Report: Vancouver sees world's biggest drop in luxury home prices
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