What Your Budget Buys | $2M and up
What $2 million and up buys you
At the top of the newly built ground-oriented market the homes stop getting much bigger. Almost all of the extra money goes into the address.
The short answer
185 active newly built ground-oriented homes list above $2 million, 13.1% of the market. The median is $2,298,000 for 1,884 sq ft at $1,233 per square foot. The median home here is only 16% larger than the regional median, which is the point: at this level the money buys location, not floor area.
- Active listings
- 185
- Median price
- $2,298,000
- Median per sq ft
- $1,233
- Median size
- 1,884 sq ft
Newly built homes listed above $2 million
185 active listings
- Median list price
- $2,298,000
- Median price per sq ft
- $1,233
- Median size
- 1,884 sq ft
- Median strata fee
- $625
- Median annual property tax
- $7,765
typical range $2,099,000 to $2,895,400
typical range $699 to $1,526
typical range 1,555 sq ft to 3,175 sq ft
typical range $215 to $1,105
36 of 185 listings state one
typical range $3,061 to $11,852
58 of 185 listings state one
Measured across 185 active listings on .
You are buying land, and the numbers say so
The median home above $2 million measures 1,884 sq ft. The median across the whole region measures 1,618 sq ft. That is a difference of 16%, on a price that is more than 1.7 times the regional median.
Put the two together and the conclusion is unavoidable. Above $2 million the extra money is not buying rooms. It is buying a postcode, and the price per square foot is the receipt.
Price per square foot in the neighbourhoods where the $2M-plus homes are
- Kitsilano, Vancouver 23 listings $1,516
- Cambie, Vancouver 9 listings $1,486
- Shaughnessy, Vancouver 5 listings $1,391
- Main, Vancouver 10 listings $1,326
- Point Grey, Vancouver 10 listings $1,322
- Nordic, Whistler 3 listings $1,307
- MacKenzie Heights, Vancouver 4 listings $1,299
- Dunbar, Vancouver 19 listings $1,289
- Kerrisdale, Vancouver 23 listings $1,216
- Arbutus, Vancouver 6 listings $1,209
What is actually in this band
Where these homes are
- Vancouver 143 (77%)
- Burnaby 27 (15%)
- Richmond 5 (3%)
- North Vancouver 4 (2%)
- Whistler 3 (2%)
- West Vancouver 2 (1%)
- Delta 1 (1%)
The neighbourhoods with the most of them
- Kerrisdale, Vancouver 23
- Kitsilano, Vancouver 23
- Dunbar, Vancouver 19
- Main, Vancouver 10
- Point Grey, Vancouver 10
- Cambie, Vancouver 9
- Quilchena, Vancouver 7
- Arbutus, Vancouver 6
Areas with three or more listings in this band.
How many bedrooms your money gets
- 3 bedrooms 85 (46%)
- 4 bedrooms 44 (24%)
- 5 bedrooms 26 (14%)
- 6 bedrooms 13 (7%)
- 7 bedrooms 12 (6%)
- 8 bedrooms 5 (3%)
Median size
1,884 sq ft
Median per sq ft
$1,233
Median list price
$2,298,000
Type
37 townhouses, 148 half duplexes
Ownership
159 strata, 26 freehold with no strata
The cash you need at closing
Two rules stack against you at this level. Mortgage default insurance is unavailable, so 20% down is the floor rather than a choice. And property transfer tax rises to 3% on the portion above $2 million, with a further 2% on residential value above $3 million on top of that.
On a $2.2 million purchase that is $440,000 in down payment and $44,000 in property transfer tax, before legal fees, before adjustments, and before GST if the home is newly built and the contract does not include it. None of that can be added to the mortgage.
Where the $2M-plus homes are
The tightest cluster on the site. At this level you are buying a specific set of streets, and the map makes that plainer than the price per square foot table does.
179 of 185 homes plotted. 2 more have coordinates but were left off to keep the map readable. The ones shown are spread evenly across the price range rather than taken from one end. 4 listings have no coordinates in the feed and cannot be placed. Click a pin for the photo, the price, and a Street View link. Zoom with the plus and minus buttons or by pinching.
Homes listed above $2 million
$2,028,800100 5311 ADMIRAL WAY
Neilsen Grove · 4 bed · 2,720 sq ft
$2,048,0003615 YALE STREET
Hastings Sunrise · 7 bed · 2,930 sq ft
$2,048,0002 4549 W 11TH AVENUE
Point Grey · 3 bed · 1,664 sq ft
$2,048,0001 2177 E 11TH AVENUE
Grandview-Woodland · 3 bed · 1,775 sq ft
$2,050,0003181 CANFIELD CRESCENT
Edgemont · 3 bed · 1,934 sq ft
$2,080,0001 5115 BUXTON STREET
Forest Glen · 8 bed · 3,863 sq ft
$2,080,0002 5115 BUXTON STREET
Forest Glen · 8 bed · 3,863 sq ft
$2,083,900107 6355 MAH BING STREET
Brighouse · 3 bed · 1,940 sq ft
$2,088,0002 2425 KITCHENER STREET
Renfrew · 4 bed · 2,047 sq ft
$2,088,000
Freehold
2 4659 W 11TH AVENUE
Point Grey · 3 bed · 1,831 sq ft
$2,088,0004426 W 4TH AVENUE
Point Grey · 3 bed · 1,465 sq ft
$2,098,000
Freehold
1 7061 PAULUS CRESCENT
Montecito · 7 bed · 2,940 sq ft
$2,098,000
Freehold
2 7061 PAULUS CRESCENT
Montecito · 7 bed · 2,956 sq ft
$2,098,0001 4579 W 11TH AVE AVENUE
Point Grey · 3 bed · 1,509 sq ft
$2,098,800809 W 38TH AVENUE
Cambie · 3 bed · 1,600 sq ft
$2,099,0002 3708 W 18TH AVENUE
Dunbar · 3 bed · 1,646 sq ft
$2,099,0001 3708 W 18TH AVENUE
Dunbar · 3 bed · 1,681 sq ft
$2,099,0001 258 E 19 AVENUE
Main · 3 bed · 1,500 sq ft
$2,099,0002 475 W 20TH AVENUE
Cambie · 4 bed · 1,855 sq ft
$2,099,0002 2138 W 48TH AVENUE
Kerrisdale · 3 bed · 1,570 sq ft
$2,099,9002 1183 W 33RD AVENUE
Shaughnessy · 3 bed · 1,655 sq ft
$2,099,9001 231 E 39TH AVENUE
Main · 4 bed · 1,596 sq ft
$2,120,0002 1177 W 33RD AVENUE
Shaughnessy · 3 bed · 1,613 sq ft
$2,128,0002 4023 W 18TH AVENUE
Dunbar · 4 bed · 1,853 sq ft
159 more active listings are not shown here. Search every active listing . Prices are the list price. Most new homes have GST added on top.
Common questions
What does $2 million buy in a new Vancouver home?
A newly built half duplex or townhouse of 1,884 sq ft at the median, on Vancouver's west side or the equivalent addresses in North and West Vancouver. Kitsilano, Dunbar, Point Grey, Kerrisdale, Arbutus, and Shaughnessy carry most of it.
Do you get much more space above $2 million?
The median home above $2 million is only 16% larger than the regional median of 1,618 sq ft. What changes is the price per square foot, which is where nearly all of the extra money goes.
What is the property transfer tax on a $2 million home?
Above $2 million the rate steps up to 3% on the portion over that threshold. On a $2.2 million purchase the tax is $44,000, payable in cash at closing. Above $3 million a further 2% applies to the residential value over $3 million, which makes the top portion effectively 5%.
What down payment do I need above $2 million?
20% minimum, because mortgage default insurance is unavailable at or above $1.5 million. On a $2.2 million purchase that is $440,000, before property transfer tax and legal fees.
Why buy a half duplex at $2 million instead of a detached house?
A comparable detached house on Vancouver's west side costs far more than a half duplex on the same street, and a newly built half duplex still delivers current construction and a warranty. Whether that trade suits a buyer depends on how much they value having no shared wall.
How many homes above $2 million are currently listed?
185 active newly built ground-oriented homes list above $2 million, 13.1% of the whole market this hub tracks. Their median price is $2,298,000 for 1,884 sq ft, at $1,233 per square foot, which is the tightest and most expensive cluster of listings in the whole dataset.
Is there an extra property transfer tax above $3 million?
Yes. On top of the 3% rate that applies above $2 million, a further 2% applies to the residential value above $3 million, which makes the tax on that top portion effectively 5%. This additional tier applies only to the value over the $3 million mark, not the whole purchase price.
Which neighbourhoods have the highest price per square foot above $2 million?
Kitsilano, Dunbar, Point Grey, Kerrisdale, Arbutus, and Shaughnessy on Vancouver's west side carry most of the listings above $2 million, along with equivalent addresses in North and West Vancouver. These are the neighbourhoods shown on the price-per-square-foot ranking for this price band.
Where these figures come from
- VanPlex active listings, MLS® data
Active townhouses, half duplexes, and row houses built in the last two years across Metro Vancouver and the Fraser Valley.
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- Government of BC, property transfer tax rates
1% to $200,000, 2% to $2M, 3% above $2M, plus a further 2% on residential value above $3M.
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- CMHC, mortgage loan insurance for consumers
Insurance is unavailable at a purchase price of $1.5M or more, where 20% down is required.
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- Canada Revenue Agency, GST/HST new housing rebate
GST applies to new homes. The rebate reduces it on qualifying purchases.
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See the homes behind these numbers
Every figure on this page comes from listings you can open. Search the full set of newly built townhouses, half duplexes, and row houses, and filter by price, bedrooms, freehold or strata, pets, and parking.