The second most expensive property in British Columbia is a private island located 20 kilometres north of Victoria, and yet, that $51.6 million acreage is still $6 million cheaper than the Point Grey home of Lululemon founder Chip Wilson. Behold, the five most expensive properties in the province according to data released January 2nd by BC Assessment.

5. 4743 Belmont Avenue, Vancouver — $28,137,000

This was the province’s fourth most expensive home last year. Its value has risen $2,580,000.

4. 4719 Belmont Avenue, Vancouver — $31,456,000

The price of this West Side property, which is sandwhiched between number five and three on this list, has climbed nearly 10 per cent year-over-year.

3. 4707 Belmont Avenue, Vancouver — $50,126,000

Last year this home was worth a measly $46 million.

2. James Island — $51,621,000

James Island BC Photo: Sotheby’s International Realty

As we’ve reported in the past, James Island is on the market for $24 million above the assessment value. But that of course gets you all the property’s luxurious amenities, including a western-themed village, white sand beaches, private airstrip and Jack Nicklaus-designed golf course.

1. 3085 Point Grey Road, Vancouver — $57,595,000

Chip Wilson made $3,389,000 last year just by holding onto his home, but that is chump change compared to the $845 million he made in August when he sold half of his 27 per cent stake in Lululemon.

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