The Queen Mary Bay property at 1850 Lands End Rd. in North Saanich is for sale for $18 million. The same money could buy you 4 luxury homes in Saskatoon. (File contributed/ Victoria Luxury Group)

The Queen Mary Bay property at 1850 Lands End Rd. in North Saanich is for sale for $18 million. The same money could buy you 4 luxury homes in Saskatoon. (File contributed/ Victoria Luxury Group)

Cost of Vancouver Island mansion could buy four luxury homes in Saskatoon

The North Saanich property is listed at $18 million, the price of 21 single family homes in Victoria

For the cost of the most expensive home on Vancouver Island, you could buy four larger luxury homes in Saskatoon or 21 single family homes in Victoria.

The most expensive private residence on the Island is the Queen Mary Bay property, located in North Saanich. The $18 million home was built in 1983 and is 3,587 sq. ft. with four bedrooms and three bathrooms. The West Coast-style home features a caretakers cottage and 15 parking spots.

READ ALSO: The most expensive home on Vancouver Island is listed at $18 million

Meanwhile, the most expensive house listed on realtor.ca in Saskatoon is priced at $4.6 million – nearly a quarter the cost of the North Saanich property. The three-bedroom, three-bathroom Saskatoon luxury home is one of the province’s “most elite luxury properties” and overlooks the South Saskatchewan River. It sits on 934 Saskatchewan Crescent and spans 4,684 sq. ft. across two floors and features floor-to-ceiling windows, an elevator and “state of the art down drafting fireplace.”

READ ALSO: Greater Victoria real estate sales up in July 2019 compared to July 2018

And if 3.9 luxury homes in Saskatoon aren’t what you had in mind, the $18 million North Saanich property could also be traded in for 21 single family homes in Victoria’s core. The benchmark value for a house in Victoria was $858,800 in July – 3.4 per cent below what it was a year prior.

Victoria was recently ranked one of the most unaffordable housing markets by the Demographia International Housing Affordability Survey, which covers 309 metropolitan housing markets in eight countries. Victoria came in 13th place amongst the least affordable markets in 2018.

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