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The
vacant lot on Brock Street in the village of Shrewsbury,
Ontario, about 65 miles (105 km) east of Detroit, has no actual
address, though the neighborhood gets high marks for being quiet
and car-friendly.
"This property is presently under water but could have endless
possibilities in the future. Be creative," the listing reads.
The real estate agent representing the property declined to
comment on what those future possibilities might be.
Canada's housing market has been on a tear through the COVID-19
pandemic, with the average selling price of a home up 38.4% in
May from a year earlier. Prices for vacant land have also
climbed, depending on location and other factors.
Water lots, or submerged lands, are not very common in Canada.
They are typically used for the storage of boats and other water
vessels, or even for logs, and in some areas they are home to
fish farms.
A water lot could potentially be used for mooring a houseboat or
floating home, but it would need to include some type of land
access. The Brock Street property does not have any land access.
There are currently at least three entirely "underwater"
properties listed on Canada's multiple listing services.
Another water lot offered up at the bargain basement price of
C$26,000 is actually a short canal running between two streets
of houses in a region north of Toronto known for its many
cottages.
($1 = 1.2330 Canadian dollars)
(Reporting by Julie Gordon in Ottawa; Editing by Paul Simao)
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