Five bedrooms, 10 bathrooms and more than 12,000 square feet of living space.
Indoor pools, views of Mount Baker, a putting green on the waterfront and your own vineyard. Or even just your own private island with an expansive main dwelling, plus guest house.
For most, these amenities are the stuff of dreams. But for others in Greater Victoria, theyB次元官网网址檙e a reality. And itB次元官网网址檚 big business.
Properties in the multimillion-dollar range bring skilled workers to the region, said David Scoones, the University of VictoriaB次元官网网址檚 chair of economics.
Greater VictoriaB次元官网网址檚 high-end properties and the people who own them, help contribute to the local economy, he said.
B次元官网网址淭hereB次元官网网址檚 no doubt that many wealthy people are able to do things because they have a lot of money,B次元官网网址� Scoones said.
Yet, he said, it seems the regionB次元官网网址檚 wealthy donB次元官网网址檛 spend much locally on big-ticket items beyond homes. B次元官网网址淚tB次元官网网址檚 a little surprising to me that thereB次元官网网址檚 not more wealth on display.B次元官网网址�
Scoones said high-end real estate can contribute to the economy when demand drives construction and renovations.
B次元官网网址淎re rich people good for the economy? That question is the fundamental question behind all revolutions in history,B次元官网网址� he said.
Transactions in Greater VictoriaB次元官网网址檚 real estate market have slowed recently, affecting both average-priced and extreme-priced properties, real estate agents have observed.
B次元官网网址淲ell, I think definitely everybodyB次元官网网址檚 certainly now spending more frugally than (they did) at the peak of the market,B次元官网网址� said real estate agent Lisa Williams.
Williams currently has two listings at more than $8 million and recently sold two others for more than $7 million.
Real estate agent Peter Nash said heB次元官网网址檚 not so certain the market has slowed. HeB次元官网网址檚 sold two multimillion-dollar Gulf Islands properties this year, plus a private island.
B次元官网网址淚f somebody has got the money, theyB次元官网网址檙e going to (make an offer),B次元官网网址� Nash said. B次元官网网址淧eople do hesitate, thereB次元官网网址檚 a little bit of that.B次元官网网址�
VictoriaB次元官网网址檚 reputation as an idyllic place to relax is well known across the country, said Randi Masters, president of the Victoria Real Estate Board, who has sold a few multimillion-dollar homes.
B次元官网网址淎 lot of (buyers) are local, a lot of them are from other parts of Canada,B次元官网网址� Masters said. B次元官网网址淲hen we see $5-million properties just going, there definitely is confidence in our market.B次元官网网址�
High-end properties for sale in Greater Victoria:
B次元官网网址� 529 Swanwick Rd., Metchosin B次元官网网址� $19.5 million
B次元官网网址� 660 LandB次元官网网址檚 End Rd., North Saanich B次元官网网址� $19.3 million
B次元官网网址� 9344 Ardmore Dr., North Saanich B次元官网网址� $13.5 million
B次元官网网址� 9750 West Saanich Rd., North Saanich B次元官网网址� $12.9 million
B次元官网网址� 249 King George Terr., Oak Bay B次元官网网址� $11.5 million
B次元官网网址� 1069 Beach Dr., Oak Bay B次元官网网址� $11.5 million
B次元官网网址� 1101 Beach Dr., Oak Bay B次元官网网址� $10.9 million
B次元官网网址� 2901 Sea View Dr., Saanich B次元官网网址� $8.3 million
B次元官网网址� 2670 Queenswood Dr., Saanich B次元官网网址� $6.3 million
B次元官网网址� 3825 Beach Dr., Oak Bay B次元官网网址� $5.4 million
Mega sales
Between January and November 2010:
B次元官网网址� 1 property sold for more than $6 million
B次元官网网址� 2 properties sold for more than $4 million
B次元官网网址� 34 properties sold for more than $2 million
B次元官网网址� 217 properties sold for more than $1 million
