A seven acre, 78-hundred square foot home with a 4.8 million dollar price tag in Saanich got an exclusive viewing from Vancouver realtors
Emerging from a private Helijet, some of Vancouver’s top luxury realtors are set for a tour in Saanich.
They load into a limo and are headed for Elk Lake for an exclusive showing of a seven acre estate with a 78-hundred square foot home.
“This upscale property needs exposure outside of Victoria, so we looked to the mainland,” says listing realtor Alex Burns.
“Obviously a market that has a lot of high end real estate there.”
The estate offers six bedrooms, and outside a tennis court and swimming pool.
It’s listed at just under $4.9 million dollars, a price tag that is music to the ears for investors from Vancouver.
“Gosh, something like this is priceless, really,” says North Vancouver realtor Brandon Crichton.
“An opportunity like this doesn’t come about where we are.”
“Priceless,” added lower mainland realtor Ryan Hartt.
“How do you put a price on this?”
“You can’t get seven acres in West Vancouver.”
Exposing high end homes to out-of-town investment is a necessary tool for local realtors.
In October, a 16-thousand square foot estate was on display for potential buyers from the mainland.
“Properties do sell this way, we’ve seen this happen in other markets like Los Angeles, New York, Vancouver,” says Burns.
These realtors are also looking on behalf of buyers from out-of-country.
The impact of the province’s 15 per-cent housing tax on foreign investment last month is still to be seen on Vancouver Island.
“But if you like to flip or an investor, maybe they say ‘oh ok, maybe too much, I want to go to Victoria or Toronto’, why here,” says realtor Jonathan Lu from Burnaby.
“The tax is still relatively new,” adds Crichton.
“The impact is as we’ve seen in media reports as well, you know the tax is really going to take effect over the next year or so when you see the impact of it.”
But this lavish Saanich home is getting interest locally, too.
“This is extraordinary, so yes I’d say it’s wonderful value,” says Margaret Springer of Oak Bay.
The estate has been listed for three weeks.
After today, it may be off the market sooner than that.