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Photos: This award-winning Vancouver mansion is on the market for $1M below assessed value

Over the past two years nearly $6 million has been shaved off the list price

One of the most opulent-looking homes in Vancouver's swanky Shaughnessy neighbourhood is on the market for a cool $17.998 million.

While that makes it one of the most expensive homes on the market, it's actually a bit of a deal compared to what was being asked previously.

The Elements Estate at 1438 West 32 Ave. is an eight-bed, 10-bathroom luxury dwelling with not one but three 2020 International Property Awards for the home's design, including best kitchen design in the Americas and best residential property in Canada.

The home has a huge list of lavish features, from a grotto near the indoor pool to a massive 1,200-bottle temperature-controlled wine cellar to a home theatre with a seriously massive screen.

There's also a billiards room with its own wet bar, a home gym and a second kitchen on the deck.

Built in 2020, the home has been on the market a lot over the past two years. In early 2021 it was listed for $23.88 million. The asking price dropped when it was put on the market later in 2021 $21.8 million.

Now, midway through 2022 a new listing has it on the market for just a hair under $18 million. BC Assessment, which officially asses property prices for tax purposes, puts the value at $19.03 million. Of that the land is $6.4 million while the house is $12.6 million. The site's sales history for the property shows no sales over the last three years.

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