Only one Burnaby home is listed in the top 50 of B.C.’s most valuable residential properties and it’s owned by the city’s most-famous resident.
It comes in at No. 36 and it’s owned by music superstar Michael Bublé and reportedly includes an underground hockey rink.
According to BC Assessment’s latest figures, Bublé’s home at 7868 Government Rd. has skyrocketed in value in the past year. The home, which is listed by BC Assessment as having seven bedrooms and 15 bathrooms, has been assessed at 22,279,000 – more than a $1.7 million jump from the $20,506,000 it was assessed at the beginning of 2020.
The home was built in 2015 and sits on a 100,000-square-foot lot, according to BC Assessment, with the land being worth more than $7 million and the buildings more than $15 million.
The rise is part of an overall increase in assessment values in Burnaby of 6% for single-family homes, according to BC Assessment.
Bublé’s home dropped $1,160,000 in value at the start of 2020 and was ranked at #47 on the list of B.C.’s most valuable homes.
In 2016, Bublé told TV host Kelly Ripa he was building a hockey rink in the basement of his new home.
“Oh, you are so rich,” Ripa responded.
“I want my kids to be able to have fun and, for me, it’s great exercise,” Bublé told Ripa.
In the summer of 2020, Bublé was featured on an episode of Celebrity IOU, in which the Property Brothers – Drew and Jonathan Scott – renovated the singer’s old family home in Burnaby for the woman who took care of his grandfather, named on the show as Minette.
"Despite COVID-19, the Lower Mainland residential real estate market has been resilient," says BC Assessment Deputy Assessor Bryan Murao. "For the most part, homeowners can expect relatively moderate increases in value. This incredible strength is a stark contrast to last spring when the market came to a temporary standstill whereas the remainder of the year had a very steady and rapid recovery."