Recently, there were dozens of mansions listed for sale in Shawnessy, Vancouver's veteran mansion district, which attracted media attention. The conditions and ages of these houses vary, but the prices are in the millions and tens of millions of dollars.
Xiaobian checked out Canada's premier Chinese selling platform "Johome Shake House", Shaughnessy currently has more than $10 million in the sale of 28 luxury houses.
Among them, there are 17 listed Marriott houses in the first Sanas First Shaughnessy, a mansion area in the mansion area.
First Sanas runs from West 16th Street to West 16th Street in the north, King Edward Street in the south, Arbutus Street in the west, and Oak Street in the east. More than half of the houses here are very distinctive mansions built before 1940, which are recognized by the government as historical heritage buildings and cannot be demolished casually.
The second and third Sanas, which had passed the King Edwards and then to the south, were slowly expanded after World War I and were a major event in the real estate world at the time.
Walking in the first Sanas, it is like entering an open-air 19th-century architectural exhibition hall, with various styles of architecture lined up, such as Tudor Revival, English country style, neoclassical style, Dutch colonial revival style, British arts and crafts style, etc.
While these older houses cannot be demolished casually, the new zoning plan allows them to add additional residential units and increase density, such as second homes, carriage houses, new buildings built in, and homes that can be converted in a variety of ways. Increasing density adds value to the land and offsets the burden of having to keep older houses.
Among the 17 tens of millions of luxury houses in first Sannas, the highest listing price is 1233 Tecumseh Ave, which was listed for 33 days, with a listing price of $29.999 million, covering nearly 25,000 square feet, with a house area of more than 12,000 square feet, completed in 2019, 7 bedrooms and 11 bathrooms.
In fact, this house has been for sale since it was built, and in 2019, it once hung a high price of $39.98 million, which was the highest priced house in Vancouver at that time. Today, the listing price has dropped by $10 million.
The oldest house is 1712 Cedar Cres, built in 1909, more than 110 years old, covering more than 23,000 square feet, the house area is more than 7900 square feet, but only 5 bedrooms and 4 bathrooms, which shows that the daily living space is huge. After a complete renovation around 2000, the pipeline facilities are in line with contemporary standards and are listed for $12.88 million.
The latest house is 1837 W 19th Ave, newly built in 2020, covering more than 15,000 square feet, with a home area of early 7,000 square feet, 2 floors, 5 bedrooms, 7 bathrooms, and a listing price of $12.688 million.
The largest footprint is 1738 Angus Dr, an old house built in 1923, "Vancouver's Most Iconic Estate," extensively renovated and restored in 1997 by architect John Hollifield, covering more than 50,000 square feet, about 1.17 acres, with homes over 7,900 square feet, 7 bedrooms, 4 bathrooms, and a listing price of $24.998 million.
In Vancouver, no other community than Sanas can claim to be rich so boldly. Indeed, for more than a hundred years from the beginning of the community's existence, its high home costs and prices have been unattainable for the average middle class.
For the same reason, there are vice governors of B.C., mining tycoons, timber tycoons, and of course, the executives of the Pacific Railroad Company who participated in the construction of the pacific railway, which are now favored by Chinese immigrants.
According to the City of Vancouver's 2020 data, more than half of the residents of Sannas are white, but in terms of a single ethnic group, the Chinese account for the largest proportion, and the smaller half of the residents are Chinese.
Most residents are married, highly educated, and have a median household income that is almost twice the city average.
If you take a walk in this neighborhood, you can walk through these streets in about an hour. No need to look at the door number, the old tree house will open in front of you like a picture in the gallery.
From Hudson Street into the circular The Crescent, counterclockwise, then turn to McRae Street to see Nichol House (1402 McRae Ave), the residence of the former provincial newspaper editor-in-chief and governor of BC, a complex of Tudor Revival and Arts and Crafts architecture.
And the house of the wealthy businessman, World War I general and former Congressman Alexander Duncan McRae, At Twist Manor (1489 McRae Ave), now the University Women's Club of Vancouver, is the perfect venue for weddings.
Turn back to the Angus Lane and head southwest to see the house of timber magnate john Hendry (3802 Angus Dr), former mayor of New Westminster, in Tudor Revival style, designed by renowned architects Samuel Maclure and Cecil Fox.
Finally turn back from Matthews Street to see Tait House (1690 Mathews Ave), a Scottish Baron style residence. Built in 1910 for timber and real estate tycoon William Lamont Tait, Vancouver's first elevator was installed.
Continue east along Matthews Street and turn onto Selkirk Street to return to the main road, King Edwards.
So why do Sanas have so many homes for sale right now?
Faith Wilson, a well-known luxury home broker in Vancouver, said: "The market has cycles. As the market moves into equilibrium, more homes may be on sale for longer periods of time, but this is often the case seen in different types of homes and price segment segments. ”
The key, she says, is "reasonable" pricing. These properties will have someone interested, someone to see the house, and then sell. "World events, interest rates and inflation are some of the factors that affect the property market, but nevertheless, real estate is still on sale."
As for why there are so many houses for sale in Sanas lately, there doesn't seem to be a particularly prominent reason.
Wilson says some listings may be due to age — owners are reluctant to carry out major renovations — or owners see neighboring homes selling for much higher than they originally bought and want to cash out for a profit.
But more often than not, she said, it comes down to lifestyle changes, "whether the seller just wants to downsize a big house for a smaller one or a life into the next chapter." ”
Wilson said that when owners intend to sell their homes, changes in their lives are more likely to be the motivation for selling their homes, rather than liquidating assets out of fear of market changes or being encouraged by neighbors cashing out.
For those considering change because of rising interest rates and changes in the housing market, Wilson advises caution before making any decisions and finding good advice.
Wilson said she hadn't seen a luxury home seller rush to sell a property in a desperate hurry, "and most sellers have the ability to weather the market correction safely." The market has performed very well over the past two years, and yes, some people may be monetizing, looking for other opportunities. For other sellers, if they can't get what they want, they'll keep it or rent it out until the market bounces back. ”