Vancouver buyer pays $1 million over asking price

The bidding wars in Vancouver are intensifying, leading to more buyers paying larger premiums to secure the home of their dreams.

The National Post reports that a West Vancouver home listed at $2.98 million sold for $4.1 million, more than a million over the asking price and a premium of 37 per cent.

The bungalow is nothing remarkable with the seller having considered demolition and building something new on the plot; however, the views are stunning.

The fact that it’s a standard home shows how desperate some are to buy in the city; the property attracted nine bids, mainly from the local area, with the winner from mainland China. 

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