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Chinese Buyer Bids $1.1M Over Asking for West Van Home

Chinese Buyer Bids $1.1M Over Asking for West Van Home

In a deal that'll do nothing to quell anxieties re offshore investors driving up the cost of local real estate, a mainland Chinese buyer successfully bid $4.1M for a 60-year-old West Vancouver rancher—$1.1M over asking. The listing agent tells the Vancouver Sun 4130 Burkehill Pl—with four bedrooms and three bathrooms—got nine offers, mostly from locals, but the winning bid came from the offshore purchaser who already owns a home in the area and is buying the 14.3k SF property—boasting unobstructed views from Stanley Park to Point Grey, and out to the Strait of Georgia and San Juan islands—with plans to build a new abode on it. [VS]