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Subject: Vancouver - The majority owner of a Point Grey mansion that was sold earlier this year by Canaccord founder Peter Brown for a record $31.1 million is…
Excerpt: English text from the archived bilingual edition · Chinese edition
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Vancouver - The majority owner of a Point Grey mansion that was sold earlier this year by Canaccord founder Peter Brown for a record $31.1 million is a “student,” property records show
Land title documents list Tian Yu Zhou as having a 99-per-cent interest in the five-bedroom, eight-bathroom, 14,600 square-foot mansion on a 1.7-acre lot at 4833 Belmont Ave
Zhou’s occupation is listed as a “student.” The other owner of the property, which boasts sweeping views of the North Shore mountains and Vancouver, is listed as Cuie Feng, a “business woman.”
Feng has a one-per-cent interest in the property, which was assessed this year as having a total value of about $25.6 million, records show
Efforts to reach Zhou and Feng through the lawyer listed on the land title documents were not successful, and realtor Cherry Xu, who reportedly served as the buyer’s agent, did not want to comment on the sale, citing privacy considerations
NDP housing critic David Eby said the fact that a student was able to buy one of the most expensive homes in the city contradicts the government’s messaging that “everything is under control in the Vancouver real estate market.”
Mortgage documents attached to the land title papers show that a mortgage of $9.9 million was taken out by Zhou and Feng from the Canadian Imperial Bank of Commerce on April 28. The bi-weekly payments are listed as $17,079.41
Earlier this week, the government introduced regulations to clamp down on unethical real estate practices, including the legal use of assignment clauses to crank up the final sale price of a property, a practice known as shadow flipping
The government also said it will introduce amendments to the property transfer tax forms that will require, as of June 10, buyers of B.C. real estate to include their principal address and whether they are Canadian citizens or permanent residents
“I always think more information is better in helping us understand that nature of what’s happening out there, rather than less,” Premier Christy Clark said Wednesday
“Let’s find out how many homes are being purchased in the market by people who aren’t residents of Canada, whoever they may be in the world. I think that information will help us come up with the right solutions.”

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Compare wording, tone and information order across complete passages. Positions, prices, policies, exams and statistics retain their original context and should be verified before practical use.

