home prices

home prices

Student Buys $27 MILLION Mansion as College Dorm

12h ago
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Tian Yu Zhou, listed as a “student” under occupation, purchased a Vancouver mansion in the Point Grey area for a reported $31.1 million Canadian dollars (roughly $27 million USD). The student owns a 99% interest stake in the 14,600 square-foot mansion which sits on a 1.7-acre lot. Records show that the price was drastically above the ‘assessed’ value of the property which is record at $25.6 million CAD. It is reported that overseas Chinese buyers make up nearly one-third of Vancouver’s luxury housing market, which causes home prices to heavily inflate. A $51 million CAD mansion was also recently sold to a Chinese “businessman”. The trend of overseas Chinese buying up luxury homes in the west looked like it was slowing down as of late, but this purchase might have people believe that the trend is still alive and well. Regardless, it’s one heck of a dorm!