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The outlook is spectacular, no question, with unobstructed views of the beach, the water, Stanley Park, and the city’s downtown core. The North Shore mountains frame the top of the scene.

As for the house, “it’s not so good,” agrees Ms. Han. Whoever buys the place will surely rip it down and build something much larger. Because that’s what people do on Belmont, these days.

Ms. Han digs through her files and comes up with a figure: 31,284 square feet. That’s the permitted house size on this lot. Who on earth would want to build a house that big? Who has the means? Mainland Chinese, says Ms. Han. “I sold a lot on the next street, and they are building 30,000 square feet on it. Most of my clients are investors from Mainland China,” she adds. “And their friends who visit. They also want to buy.”

But it’s not just Asian money. Francesco Aquilini, whose family owns the Vancouver Canucks, lives in a mansion one street over. A Swiss gentleman keeps a 10-bedroom, 17-bathroom property a few doors down; it’s assessed at over $40-million. “There are some really notable people here,” says Ms. Han, “and some are people who want to keep a really low profile.”

Three of B.C.’s five most expensive residential properties are on Belmont. The other two — including Lululemon Athletica Inc. founder Chip Wilson’s $54-million waterfront home — are nearby.

Belmont’s big numbers skew Vancouver’s average house prices, driving them into the stratosphere. Even so, the “benchmark” or typical price for a single family detached house in Greater Vancouver, which includes suburban communities, now falls just shy of $1-million, according to the Real Estate Board of Greater Vancouver. In the area identified as Vancouver West, which includes Belmont, the “benchmark” is $2.25-million.