Highest house price on the market in Canada drops millions

It has dropped in price twice.

A house in Vancouver is currently the most expensive single-family home on the Canadian real estate market.

That’s still true, even though $10 million has been taken off the original asking price.

The home at 4838 Belmont Ave is currently for sale for $49.8 million; until recently, listings for the house were asking $55.8 million. And last year it was listed for $59.8 million.

Then and now, the house on ‘Billionaires Row’ is the most expensive house on the Canadian market, although the second-place house on the list is now a lot closer (just $50,000 separates the two).

The house was built in 2019; REW’s records show the property, which is 0.856 acres, has not been sold since 2018, when it sold for $17 million. Before that, it sold in 2000 for $2.67 million.

No photos or videos have been published of the home’s interior, but the listing says it has 12,000 sq ft of living space with Italian marble floors, a wok kitchen, bar, gym and swimming pool. There are also five bedrooms and 10 bathrooms.

It also has a private elevator, an eight-car garage and a 1,200 sq. ft. patio.

Currently, BC Assessment has ranked it sixth on its annual list of most valuable properties in the province, with a value of $39.77 million.