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Real Estate, Vancouver Homes, Urbanized, News

9 unsold luxury homes in Vancouver being rented for cheap (PHOTOS)

Kenneth Chan Mar 11, 2019 5:28 pm 102

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.

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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

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)
First Shaughnessy Rental

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 Vancouver

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

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

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)

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