These Vancouver Homes Sold For Millions In 2011 And Have Been Vacant And Rotting Since: Here's Why
Zero Hedge
Feb 5, 2016
http://bit.ly/1Kw5xZw

[snip]

Five years ago, in July of 2011, the house at 4182 West 8th Avenue in Vancouver in sold for $4.6 million. It now rests vacant, abandoned and rotting.

Six years ago this $6.2-million Point Grey home boasted unobstructed vistas of the North Shore mountains, English Bay and Vancouver’s skyline. A park sits across a quiet street. The home represents everything a family could aspire to. As the National Post reports, it too is vacant and rotting. Windows have been left open and debris sits in the yard. Like a symbol of futility, a June 2015 City of Vancouver “untidy-premises” order remains pinned to the door.

The two formerly multi-million mansions devolving to derelict status is not the only thing they share in common: a second uniting feature is what they were meant to become once they were purchased half a decade ago - a store of wealth to Chinese investors eager to park "hot money" outside of their native country, and bid up any Canadian real estate they could get their hands on.

And then the investors disappeared.

The Point Grey property stopped functioning as a home and became a storage of wealth six years ago, according to property documents and a neighbour’s account.

It was well-cared for in 2010 when it was sold to an investor. Since then it has been flipped through a property transfer in a Beijing law office and left unoccupied.