No surprise — Vancouver is home to the country’s priciest vacant land, according to a new report from the Canada Mortgage and Housing Corp.
It shows the average cost of vacant land in Vancouver, owned by a company or government organization, is $1.9 million, and that is the most expensive across the nation.
Toronto is in second place, where that same lot is valued at $900,000.
Get breaking National news
Get breaking Canada news delivered to your inbox as it happens so you won't miss a trending story.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
CMHC senior analyst Andrew Scott says outside of Vancouver, the average price across British Columbia is much lower.
“The average assessed value of vacant land was $300,000.”
Scott says most vacant land in the region is owned by developers.
Comments
Want to discuss? Please read our Commenting Policy first.