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The Bohlin Cywinski Jackson-designed home in British Columbia has garnered a lot of attention for being not only the most expensive home for sale in Whistler, but in all of Canada, according to Point2Homes.
Priced at $39 million, the 8,700-square-foot modern home with views of the Whistler and Blackcomb Mountains has captured the interest of wealthy buyers.
“This type of property, there is a high probability that the owner is from outside the country,” said Max Thornhill, listing advisor at Engel & Völkers, the property’s real estate agency.
Whistler has seen a surge in Canadian residents buying real estate in the mountain region, about two hours north of Vancouver, since the pandemic began. In total, about 16 percent of the homes are owned by foreign buyers.
But that’s changing on the ultra-luxurious side of the market, where foreign ownership soars to about 50 percent, the listing agent noted.
Stonebridge Drive, the exclusive area in Whistler where the property is located, has a number of foreigners living there, from France, the United States and Hong Kong.
The property has been up for sale for a few weeks and in that time a handful of “rich” people have viewed it, Thornhill said.
“There’s no question that when you go to the higher end properties, what you have with people buying houses like this, there’s a freedom of travel and they can choose which place really grabs them,” the broker said.
On the lower end – compared to Whistler prices – properties are mostly owned by Vancouverites.
Whistler saw a 29 percent increase in the median estimated value of single-family homes, from $2,033 million in 2021 to $2,629 million in 2022, according to BC Assessment. That compared to 1 July 2020, when the appraised value of a single-family home rose by an average of only one percent.
“Part of this is probably a little bit of a recovery” from the delay caused by the onset of the COVID-19 pandemic, BC Assessment’s Bryan Murao told Pique News.
As interest rates in many parts of the country exert downward pressure on real estate markets, high-end luxury properties are not experiencing the same impact.
“Any economic downturn will affect everything,” Thornhill said, “but these aren’t the kinds of properties that people generally put too much debt on.”
Acclaimed architectural firm Bohlin Cywinski Jackson has designed some notable structures, such as Bill Gates’ 66,000-square-foot mansion in Washington.
Whistler’s estate is a “work of art,” the real estate agent said.
“Some rich people have seen the house and understand what this is.”
The property’s owners are a foreign couple with a love for Canada and an appreciation for fine architecture, he said.
Surrounded by some of Canada’s most impressive views, this huge estate on a seven-acre wooded property overlooks Alta Lake and the ski slopes.
Inside, the unique spiral floor plan features six bedrooms, 10 bathrooms, a floating staircase, and a huge 40-foot granite central fireplace.
Another noted feature is: the courtyard, with art installations that double as lighting elements for the wine room and spa. A huge cantilevered infinity pool stretches across the mountainside.
The wood paneling that adorns the house is made from salvaged wood from a storm in 2007 that toppled hundreds of trees in Stanley Park.
“This has put us on the map architecturally,” said the listing agent. “It puts us on a par with Aspen and all those other places the world knows about.”