is part of the Informa Markets Division of Informa PLC
This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Vancouver may be Canada’s most expensive real estate market. But even that city has never seen a listing like this one.
Billionaire Joseph Segal and his wife Rosalie have placed Belmont Estate, a 21,977-sq.-ft. home, on the market for $63 million.
The listing sets a “record for real estate in Greater Vancouver’s history,” according to Sotheby’s International Realty, which is handling the sale.
“No other property of comparison has been offered in Greater Vancouver to date,” realtor Christa Frosch said in a news release.
The home sits on a 1.28-acre property on Belmont Avenue, “one of the most prestigious streets in Canada,” Frosch said.
It’s a home that’s been “visited by prominent dignitaries and celebrities from around the world,” and it has plenty of perks to match its visitors’ prestige.
It has a private Porte-Cochère or “coach door” entrance that brings you into two gallery halls that are big enough to accommodate as many as 100 guests.
There’s also a “sweeping grand staircase” with a French Ormulu chandelier and a living room with a fireplace and Tai Ping custom-made carpet, the news release said.
But that’s not all a deep-pocketed buyer can pick up for $63 million.
The property also has Versailles-inspired three-level garden that has sequoia trees, maples and golden spruce.
There are also 12,000 tulips, daffodils and hyacinths, along with magnolia, lilacs and rhododendrons.
And that’s saying nothing of the home’s spectacular views: it has a shower stall that looks out on to the Strait of Georgia.
The listing comes after luxury sales have slowed down following a series of new housing regulations at the local, provincial and federal levels, including a 15 per cent foreign buyers’ tax for Metro Vancouver and a one per cent City of Vancouver tax on empty homes.
The Sotheby’s 2016 Year-End Top-Tier Market Report showed that, while sales of single-family homes worth over $4 million grew by 34 per cent overall last year, they also decreased by 35 per cent year-over-year in the last half of the year.
The trend was seen as a sign of a “moderating market” after a first half that saw prices grow to “unprecedented levels.”
Written by: Jesse Ferreras
Original Article: globalnews.ca