With the dawn of 2024, the BC Assessment has unveiled its latest rankings of the costliest properties across British Columbia. According to the newly released data from January 2, these assessments reflect the market values as of July 1, 2024, covering a staggering 2.2 million properties valued at a total of $2.83 trillion.

The report divides the expensive properties by region, including the Lower Mainland, Vancouver Island, Southern Interior, and North Central. The findings reveal an astonishing trend: of the ten priciest properties in the province, only one is located outside the high-demand Vancouver area, highlighting the fierce real estate competition in B.C.

Drumroll, please! Here are the top ten most expensive properties in British Columbia:

1. 3085 Point Grey Rd., Vancouver - Valued at $82,664,000, this massive Kitsilano residence owned by Lululemon founder Chip Wilson is a two-storey marvel, complete with 7 spacious bedrooms and 9 luxurious bathrooms over almost 15,700 square feet. Built in 2008, it maintains its status as B.C.’s most expensive property, growing in value from last year's $81.7 million.

2. 4707 Belmont Ave., Vancouver - This lavish home takes the second spot at $71,739,000. Featuring 10 bedrooms and 16 bathrooms, this 28,794 sqft beauty spans three storeys and is situated on 1.719 acres.

3. James Island, Gulf Islands - In a surprising twist, an entire island comes in third! Valued at $57,526,000, this 770-acre paradise offers a quaint single-storey home with 4 bedrooms and 5 bathrooms, boasting a total living space of 4,656 square feet.

4. 4743 Belmont Ave., Vancouver - Another Point Grey gem, this property is assessed at $44,122,000. Built in 1992, the two-storey house features 5 bedrooms, 12 bathrooms, and encompasses 16,510 square feet on a 1.286-acre lot.

5. 2815 Point Grey Rd., Vancouver - Rounding out the top five is this Kitsilano home, valued at $42,943,000. Constructed in 1962, it spans two storeys with 5 bedrooms and 6 bathrooms over 9,301 square feet.

6. 4719 Belmont Ave., Vancouver - This 1997-built property comes in at $42,390,000. With 6 bedrooms and 11 bathrooms, it stretches across 18,498 square feet and sits comfortably on 1.3 acres.

7. 1450 Blanca St., Vancouver - This home has seen a bit of action in the past few years, being sold twice recently. It’s assessed at $41,220,000, boasting 5 bedrooms and 9 bathrooms among its 10,652 square feet.

8. 4838 Belmont Ave., Vancouver - Added to the list is this stunning two-storey residence built in 2019, valued at $40,172,000. It offers 6 bedrooms and 7 bathrooms within an impressive 12,329 square feet space.

9. 2999 Point Grey Rd. Vancouver - This Kitsilano property is assessed at $38,128,000. With a total of 6,568 square feet, it includes 3 bedrooms and 6 bathrooms amid a .368-acre lot.

10. 4773 Belmont Ave., Vancouver - Closing the list is another Belmont home built in 2010 with an assessment of $35,772,000. It features 5 bedrooms and 9 bathrooms over 13,842 square feet, nestled on 1.113 acres.

This striking data makes it clear: while certain areas in British Columbia may be experiencing turbulence in housing availability, the demand remains astoundingly high, especially in Vancouver, where luxury properties are becoming hot commodities. How will these trends shift in the coming years? Only time will tell, but one thing’s for sure: the real estate game in B.C. is one worth watching!