Real Estate Advisor with Engel & Völkers Dundarave, West Vancouver, Canada

Cindy Stanley Realty Blog Engel & Völkers West Vancouver › October 2016

Metro Vancouver Market Highlights for September 2016

New Listing 2106 SW Marine Drive, Vancouver, BC

R2114962 - 2106 SW Marine Drive, Vancouver, BC, CANADAView my new listing for sale at 2106 SW Marine Drive, Vancouver and currently listed at $29,800,000.

The Gables Estate, a once in a lifetime property offering an oasis located along the distinguished SW Marine Drive. Private 4.25 acres of manicured grounds lay host to this masterfully reimagined 10,000sqft Tudor mansion, designed w/ the highest degree of elegance & modern sophistication. Breathtakingly impressive views that stretch to the Gulf Islands. Simply soak in the property's gorgeous surroundings from the 65' infinity swimming pool, rooftop decks, or while waking up in the world class master suite. Finally, enjoy a stroll down the cobble stone paved road down to your own private park and practice your swing on the two golf greens... Truly exceptional and very rare!

Despite Vancouver's foreign buyer tax, it's proving to be a seller's market for townhomes

townhouses on commerical street east vancouver street

'After the long weekend it went crazy — 30 people in one open,' says townhouse shopper Henrik Karlsson

Photo of Salma NurmohamedSalma Nurmohamed · CBC News October 1, 2016
The scene is pretty standard for what happens when a quality home in a good neighbourhood hits the market in Vancouver — dozens of house hunters at the open house, offers restricted to a single night, and, in the end, a property that goes well over the asking price after seven bidders fight for the title. Earlier this year few home hopefuls in Vancouver would have thought this was unusual.

But this scene took place 10 days ago — late September, and nearly two months after the 15 per cent foreign buyer real estate tax was brought in by the B.C. Liberals in an attempt to cool the market and increase home affordability.

Townhouses and rowhomes in East Vancouver are in high demand despite a foreign home buyers tax. (CBC)

"After the long weekend [in September] it went crazy — 30 people in one open," said potential homebuyer Henrik Karlsson, 33. "I expected it to be less busy."

Karlsson and his wife, Emilia Gustafsson, 28, hoped it would be easier to upgrade from their 631-square-foot one-bedroom and den apartment with the tax in place.

But they lost the bidding war — the two-bed, two-bath, 1,150-square-foot townhouse in a pretty pocket of East Vancouver went for $70,000 over the asking price at $908,000. Read Full Story...


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