Despite the foreign buyer ban that went into effect in January, Vancouver’s super high-end buyers appear to be out of hibernation
Vancouver’s super high-end buyers, not your random millionaires – but your centi-millionaire types – appear to be out of hibernation. Despite the foreign buyer ban that went into effect in January, there is an appetite among the über-wealthy for the splashiest of mansions and penthouses.
The home that caught everybody’s attention a few weeks ago was the sale of a waterfront Daniel Evan White designed home at 3439 Point Grey Rd. Mr. White was a residential architect who had worked with Arthur Erickson. He died in 2012, and in 2014 the Museum of Vancouver honoured his work in an exhibit calledThe asking price for the home was $24,988,000, and it sold for $24-million after 32 days on the market.
“I can say that we’ve had a few offers. We’re just waiting to find that right fit. But there is more than one person walking around with $20-million-plus in their pocket,” she says. “Everybody is looking to carve out their best deal. That’s what it comes down to.” Ms. Kai says high net worth individuals are looking to negotiate, and they are more confident since the Bank of Canada suggested they may not increase the interest rate again this year.
“They definitely want to make sure to take into account the market, and buffer themselves a little too for whatever reason, if the market does dip a bit more. But we are seeing signs that it’s not going to.”
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