November 27, 2013 11:00 pm
Updated: November 28, 2013 9:30 am

How many French chateâus could you buy for the price of one Vancouver tear down?


Everyone knows Vancouver’s real estate prices are out of this world, but did you know you could be living large in France for the same price as a tear down on the west side?

Vancouver-based website Pricey Pads found a 76-year-old home in Point Grey on 1.197 acres, listed for $22.8 million. The home is described as a “Point Grey Treasure,” and it does have a fantastic view, but it’s not waterfront.

However, the home is currently boarded-up and the value is primarily in the land.

The creator of Pricey Pads, Mitchell Owsanski, wanted to see how many authentic chateâus in France you could buy for the same price as the Point Grey home. The answer?  Nine.

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Owsanski says the comparison truly illustrates the absurdity of Vancouver’s real estate prices.

“It’s absolutely crazy. I’ve always thought Vancouver real estate was way overpriced. That’s why I’ve constantly been doing the comparisons on my website, Pricey Pads.”

READ MORE: Paying for the boom — Global News’ in-depth look at Canada’s hot housing market

Owsanski says many of the chateaus are on large plots of land.

“They are in the countryside but regardless, some of them are on 400 acres.”

All of the homes in France are currently for sale, for prices ranging between $939,916 and $3,923,671 (all prices Canadian).

It would cost $22,606,270 to buy all nine French chateâus, $193,730 less than the single Vancouver tear down — enough savings to pay for hundreds of flights between Vancouver and Paris.

The Point Grey property is also still on the market.

Point Grey property on Belmont Avenue. Credit: Google Maps/Pricey Pads

© 2013 Shaw Media

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