06/16/2013 11:45 EDT | Updated 06/16/2013 11:45 EDT

House Prices Calgary: $12 Million Tuscan House For Sale (PHOTOS)


A $12 million Tuscan-inspired home for sale in Calgary adds fuel to a recent Statistics Canada report that says the city is leading the country in rising house prices.

The agency says Calgary was the top contributor to the national advance in new housing price index for the third consecutive month, as prices for new homes rose 0.5 per cent in April.

"Builders reported that higher material and labour costs as well as market conditions were the main reasons for higher prices," Statistics Canada said.

The 16,000 square feet property, located in Pinnacle Ridge, has seven bedrooms, eight bathrooms and a 25-metre pool.

The home took three years to design and build and also has a large home theatre, wine cellar and a 1,000 square foot gym.

Check out some photos of the $12 million house:

Photo gallery $12 Million Calgary House For Sale (PHOTOS) See Gallery