Property list price is way different from assessment value
 

3101 277 Thurlow $59 million - November 2016
For sale: This Vancouver penthouse comes with a $59-million price tag | Vancouver Sun

The July 2016 assessment value was $25,156,000.

What are some of the things that could cause such a big difference in price?

It's called supply and demand. I just purchased a Sidney Crosby signed and Framed print from Canada Post. It cost me $299.95 + tax. last week.

On eBay, it is selling for.............

2016 Canada Post Sidney Crosby Signed Autographed Limited Edition Framed Print | eBay

and

2016 Canada Post Sidney Crosby Signed Autographed Limited Edition Framed #14/987 | eBay

Canada Post sold out of them almost immediately. And, they were not available for sale in the US. Limited to 987 copies. My copy is 16/987. Purchased it from a rural post office that had no idea what they had.

It will only increase in value over time. Lots of crazy fans out there willing to pay whatever. And no, I'm not selling mine. I lucked out and got it at issue price.

You want a penthouse in Downtown Vancouver, you pay what it's worth, not assessed value.