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This ‘Open Concept’ Home Will Cost You $4 Million in Vancouver

In case you thought the city’s housing prices had improved… nope.

by Connor Garel
Aug 21 2018, 8:19pm

Image source: Rew.ca

If you live in Vancouver—which, odds are, you don’t, because you probably can’t afford to—then you’re likely aware of the seaport city’s current real estate crisis. Metro Vancouver’s housing supply recently hit a three-year high, but the prices are so insane (the average detached home price tag is about $1.8 mil, give or take) that nobody’s buying any of them.

But no need to fear. If you do happen to have the cashflow required to live in Vancouver, we’ve found the perfect home for you: an “N/A square foot” lot with a nice ocean breeze.

A listing has just appeared for this gorgeous, “open concept” beach house at 2573 W 3rd Avenue, which is just a short ten minute walk away from the beach. For just under $4 million dollars—with a down payment of $798,000 and a monthly $16K—you can move into this 0 bed, 0 bath property in the heart of Kitsilano. It looks like it might need a little bit of work, but with the right vision, the right attitude, and a generous trust fund, anything is possible.

Here’s a quick excerpt from the web listing if you don’t want to make a preemptive purchase: “Very rare development opportunity to custom build your next dream home in the desired Kitsilano area! Zoned RT-8 allows for build of multiple dwelling.”

This real estate entry joins a string of others, which have become part of this kind of sad game where Vancouver residents, victimized by their city’s stratospheric housing prices, trade ridiculous listings online. Last January, this quaint shack in Point Grey was listed for over $2.4 million, and was reportedly sold for more than $80,000 over the asking price.

And in March of 2016, a house with a mild spontaneous combustion problem was valued at a little under $2 million, with a property description that aptly said: “Existing house damaged by fire. Do not enter.”

Owning a house in Vancouver, according to RBC, costs the average person about 120 percent of their income. So if you’re a local, you’ll probably never be able to afford a home.

But it might be comforting to know that this property, a roofless, mildly dilapidated bachelor just off the Southern coast of the beach, is always available for purchase.

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