With their brilliant design and unparalleled finishes, some houses redefine the notion of luxury – and the top 10 most expensive homes for sale in Canada most certainly do just that. The hefty price tags, going from $25,000,000 to $38,000,000, provide everything from heated pools and Jacuzzis, climate-controlled wine cellars and stylish kitchens to bespoke furniture, landscaped terraces, and stunning water, mountain or city views. In other words, these are the homes everyone is craving, but only the uber-rich can afford.
Luxury Home Sales Are Down, but Price Tags Don’t Budge
Although these staggering prices remain prohibitive for most people, compared to last year’s figures, the values for the most expensive homes in 2018 have toned down significantly. The highest-priced home for sale in 2017 was Belmont Estate, listed for $63,000,000, whereas this year’s No. 1 listing, PH02 1011 W Cordova Street in Vancouver is asking a “mere” $38,000,000.
However, this drop does not apply to the rest of the luxury real estate market. According to a recent report, high-end home prices have remained resilient despite sales volume going down since the beginning of the year.
British Columbia Still in the Lead, with Six Listings in the Top 10
If acquiring a piece of luxury real estate is on your mind, you might do well to focus your attention on Vancouver and its surrounding area. To the surprise of no one, British Columbia has the biggest number of high-end homes for sale of all the provinces included in this ranking: six. This is slightly less compared to last year, when the province had a total of nine listings in the top 10.
This year, Vancouver has three properties on the market that simply spell luxury, all of them in the top five. From home theaters with tiered seating and outdoor pools all the way to sophisticated chandeliers and marble floors, the Vancouver luxury real estate market has it all. Three more BC homes join their ranks: one in Surrey and one in Bute Inlet, both going for $28,800,000 and another one in Whistler ($25,900,000).
So, what would a high-end buyer get for these absurd amounts? In British Columbia’s luxury real estate market, you can opt for the city or the countryside and you wouldn’t be disappointed either way: all six of the ten most expensive high-end listings in the province make the most of the urban or fairy-tale-like countryside areas where they are located.
Toronto Joins the Ranking, Boasting Three of the 10 Priciest Properties
There are many new entries this year, but the spectacular 68 Bridle Path in Toronto is not one of them – this stunning piece of luxury real estate was the fourth most expensive in 2017 and this year it simply went up two places (the price tag is stuck at $35,000,000). Although it is located within city limits, Bridle Path is anything but urban: its sprawling green lawns and majestic trees surrounding the elegant, French Chateau-style home remind you of a secluded, countryside paradise.
However, if idyllic charm is not for you and you’re looking for breathtaking city views, amazing terraces in modern skyscrapers and sleek, bespoke furniture, the Toronto luxury real estate market offers its high-end buyers two more options: for a little over $31,000,000, the amazing condo at 155 Cumberland Street could be yours; or, for the bargain price of $25,000,000, you will get to call the impeccably-designed brownstone at 469 Spadina Road home.
The luxury real estate market is losing momentum in the Greater Toronto Area, according to recent studies. Compared to 2017, the sales of luxury homes in the GTA fell by nearly 68% and prices that used to be red-hot are now beginning to cool off. The taxes associated with Ontario’s Fair Housing Plan are considered to play a substantial role in the process, forcing both sellers and buyers to reconsider and try to adjust to the changing conditions.
Quebec Completes the List, with Two Surprise Appearances at No. Seven and Eight
Quebec made the list with two properties that entered straight at No. 7 and 8, with asking prices hovering around $26,000,000. Exceptional by any standard, the grand stone mansion at 41 Avenue Forden, Westmount is surrounded by 30,000 sq.ft. of private land, boasting an impressive terrace overlooking the massive pool, a gated driveway, and a luxurious tennis court.
The second Quebec luxury home that made the list has a characteristic that definitely sets it apart from the other high-end properties: in this particular case, the surrounding space is more important than the actual home. Built on an astounding 2,761-acre lot, 7516 Avenue Royale is a 4-bedroom, 2-bathroom stone house that still retains its 1640, classical charm. And with so much space surrounding this four-century-old dwelling, its future owner could easily renovate the grounds to recreate a fitting fairy-tale scenario!
Luxury comes in many forms and it can mean many things. But no matter what your dream home looks like, the Canadian luxury real estate market offers access to everything from forested, perfectly sheltered rural estates to sprawling, exclusive penthouses located in vibrant neighborhoods. For those who have the money, of course.
If you’re curious about last year’s Top 10 Most Expensive Homes in Canada, check out the article here:
- To compile this list, our team of researchers looked at the entire Canadian market and the resources used were our own database as well as national portals and brokerages.
Fair use and redistribution
We encourage you and freely grant you permission to reuse, host, or repost the story in this article. When doing so, we only ask that you kindly attribute the authors by linking to Point2Homes.com or this page, so that your readers can learn more about this project, the research behind it and its methodology.