BC a haven for priciest homes

Forbes, the magazine obsessed with lists for the rich and famous, has come up with the top 10 priciest pads in Canada.

And while Ontario lays claim to the top two most expensive homes in the country -- mansions worth $45 million and $22 million in Oakville and Toronto -- it's B.C. that has the highest concentration of luxury homes.

Seven of the top 10 luxury pads on the Forbes list are in B.C.

The properties are, not surprisingly, located in West Vancouver, Whistler and on Vancouver Island, with the "cheapest" on the list being a $12.8-million West Van mansion.

Malcolm Hasman, the top selling realtor in West Vancouver, sold 10 waterfront properties in 2006, netting him sales of more than $200 million.

That's up from his 2005 sales of $140 million and 2004 sales of $97 million.

So what is it that keeps drawing people back to B.C. when they could be buying anywhere in the world?

"It's the same reason all the time," says Hasman. "The clients I'm dealing with in West Vancouver find it a wonderful, safe community to raise kids. Many of these people are coming from London, the U.S. or parts of the world where the security and geopolitical problems today are [worse than] what they used to be."

Hasman says buyers in West Vancouver are split 50-50 local and foreign, with international buyers hailing from China, Korea, Iran and Europe.

Compared to major cities such as London, Paris and New York, prices in B.C. are still a relative bargain.

"I just sold the most expensive condo in Victoria ever -- a penthouse for $4.2 million," says Victoria realtor Peter Nash. "That was from someone from the United Kingdom where prices are much higher. To them, it was good value."

The most expensive property for sale in B.C. is a $20-million steel and concrete mansion on Whistler Mountain, where the 2010 Olympics can be viewed from the back yard.

The home is listed with realtor Ann Chiasson of Sea to Sky Premier Properties, who says compared to Vail or Aspen in the U.S., Whistler offers good value.

"I think the people who discover us, quite frankly, don't want to let their friends know because they really like it here and find it refreshing," says Chiasson.

According to the Royal LePage Carriage Trade Luxury Property Report, one-third (37 per cent) of Canadians aged 18 and over either live in a luxury home, plan to buy a luxury home soon or aspire to one day live in one.

The report says Greater Vancouver saw a 57- per-cent increase in the number of $1-million homes from the third quarter of 2005 to the third quarter of '06.

(prepared by Lena Sin/Vancouver Province)

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- According to the Royal LePage Carriage Trade Luxury Property Report, the three most important criteria when choosing a luxury home are: Investment potential (25 per cent), proximity to excellent schools (19 per cent) and the prestige of the neighbourhood (17 per cent).

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