It’s under water – .

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It’s under water – .


OTTAWA – A 7.7 hectare piece of land for sale in a protected bay on the Canadian side of Lake Erie may seem like a steal at $ 99,000, especially with an average house in Canada now worth $ 688,000, but there is a catch. It is entirely underwater.

The vacant Brock Street lot in the village of Shrewsbury, Ont., About 105 kilometers east of Detroit, has no real address, although the neighborhood gets high marks for being quiet and friendly for cars.

“This property is currently underwater but could have endless possibilities in the future. Be creative, ”the list says. The real estate agent representing the property declined to comment on what these future possibilities might be.

The Canadian housing market experienced a tear during the COVID-19 pandemic, with the average selling price of a home rising 38.4% in May from the previous year. Prices for vacant land have also increased, depending on location and other factors.

Water bodies or submerged land are not very common in Canada. They are generally used for the storage of boats and other water vessels, or even for logs, and in some areas they house fish farms.

A body of water could potentially be used to moor a houseboat or houseboat, but it should include some type of access to land. The property on Brock Street does not have access to the land.

There are currently at least three fully “underwater” properties listed on Canada’s Multiple Listing Services.

Another body of water offered at a bargain price of $ 26,000 is actually a short canal connecting two streets of houses in an area north of Toronto known for its many cabins.

(Report by Julie Gordon in Ottawa, edited by Paul Simao)

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