davcocom
Active Member
I wonder if they will be breaking ground soon now that more than 50% is sold
- Thread starter IanO
- Start date
thommyjo
Senior Member
8.9, even 5.7 would be the most expensive non SFHs ever sold in Edmonton, right?
CaptainBL
Active Member
In this current market environment with rates, a soft condo market, and the limited market for luxury condos any type of bank financing would likely require 100% presales
Yes, I heard that the penthouse that was sold was actually on a $ per sq. ft. basis a record for all of Alberta, higher than any $ per sq. ft. even sold in Calgary. It also was higher than the Pearl penthouse which sold earlier this year a for about $1,235 per sq. ft.
Luxury Edmonton penthouse finds buyer $450,000 under asking
This 2,430-square-foot penthouse sits atop an eight-year-old high-rise perched over a golf course and the North Saskatchewan River
www.theglobeandmail.com
ChazYEG
Senior Member
As far as I am aware, yes.
IanO
Superstar
I cannot imagine even considering spending $6-9mil on a place in Edmonton. To each their own I guess, but that's nuts and simply a poor investment.
2-3mil, sure, but 6-9mil can get you some pretty amazing places in Vancouver, Vic, Toronto, MTL, Palm, San Diego, hell NYC.
2-3mil, sure, but 6-9mil can get you some pretty amazing places in Vancouver, Vic, Toronto, MTL, Palm, San Diego, hell NYC.
bodsbods9090
Active Member
Sure, but when you have $$$ to burn, why not?
And who knows...maybe the individual who purchased it likes investing in real estate?
northlands
Senior Member
If you're spending $5m+ on a home in Edmonton, it's likely not your only home, and you probably already have home(s) in whatever cities you desire.
Reminds me of the weird paradigm of housing: The more expensive it is, the less time the owner likely spends in it.
Reminds me of the weird paradigm of housing: The more expensive it is, the less time the owner likely spends in it.
MattPT
Active Member
8 million to look at (and probably hear) a busy road. Doesn’t get anymore North American than that.
For comparison: 3 bed 4 bath 3 titled parking in edmontons other luxury building.
Even lessard house is a steal compared to Clifton.
For comparison: 3 bed 4 bath 3 titled parking in edmontons other luxury building.
Even lessard house is a steal compared to Clifton.
God
Active Member
Some of you forget that the people that have $10mill to spend on a place in Edmonton, likely have their business and life mainly in Edmonton. Which would justify spending that money in a city you’ve built your life in.
ChazYEG
Senior Member
I'd honestly choose a $6-9M in Edmonton over almost all of these cities, save for maybe NYC and Toronto.
Vancouver, Victoria, Palm Springs and San Diego are frankly overrated IMO, and I wouldn't have a happier life in either city than I have in Edmonton, and Montreal would probably be annoying to live in without speaking any French.
Especially Victoria and Palm Springs... I don't really see much attractiveness there other than maybe weather.
thommyjo
Senior Member
Lots of lonely people in great climates. Lots of life is the people you do it with, even if the place that lands you wouldn’t be your 1st round draft pick it starting fresh.
David A
Senior Member
Someone retired I know very well moved from a pleasant, warm BC city to a colder winter city (not Edmonton) because several of their kids and grand kids live there.
It is great to have a winter get away place if you can, which is what condos in places like Arizona are for, but with the restrictions and prices in BC, that doesn't work so well (and their winter weather is not very sunny). Particularly if your family and friends are elsewhere and can't travel to see you often.
SMayo
Active Member
As a thousandaire I definitely don't have a desire to leave Edmonton, in fact I really enjoy it here and think this neighborhood is a great place to live. That being said I definitely get that a condo in Edmonton isn't high on a millionaires wish list and I don't really get how there would be much of a market for more than a few condos in the whole of Edmonton priced at more than a few $million.
ChazYEG
Senior Member
And even this... Weather is such a matter of personal preference. I don't care how much people try to convince me, IMO Vancouver or Victoria, for example, DON'T HAVE NICER WEATHER than Edmonton. Damned be the warmer temperatures. The rainy, gloomy winters are MUCH worse on my mental health and general well being than the frigid winters here.
But back on topic:
I am surprised that these sold so well, considering the prices. These are high under any circumstance and in any place, and given the typical predilection for SFH over condos in Edmonton, in general.
I am also VERY, VERY curious about the kind of finishes these units will have, to justify at least some of the price.
David A
Senior Member
Yes, one of the reasons I never moved to BC is because I knew I would really not enjoy prolonged stretches of cool, cloudy, gloomy weather, even if a bit above freezing. I also know someone else who left that part of BC because of exactly that. Unfortunately it took them a few years of being unhappy there to realize it and to arrange to go elsewhere.
Back on topic for me also - there are some people in Edmonton who are quite well off and some want a nice condo in addition to or instead of a SFH. Perhaps this is not a huge market, but not everyone wants a big house in the suburbs even if they can afford it. Things like location, amenities and quality have value too, not just square footage.
Back on topic for me also - there are some people in Edmonton who are quite well off and some want a nice condo in addition to or instead of a SFH. Perhaps this is not a huge market, but not everyone wants a big house in the suburbs even if they can afford it. Things like location, amenities and quality have value too, not just square footage.