Calculate exactly how much PTT you'll pay buying a home in Victoria Drive
Victoria Drive is a longstanding East Vancouver commercial corridor running north-south through the Grandview-Woodland and Hastings-Sunrise neighbourhoods. It's a multicultural hub with Filipino, Vietnamese, and South Asian businesses, and its residential side streets offer some of Vancouver's best-value detached homes.
Condos near Victoria Drive typically sell between $530,000 and $750,000 for one- and two-bedrooms in older low-rise buildings, with newer purpose-built rentals and condos appearing along the commercial strip.
Detached homes on the residential streets flanking Victoria Drive generally sell between $1.3M and $1.9M, often with suite income potential — making them attractive to owner-investors.
| Property Type | Typical Price | Estimated PTT |
|---|---|---|
| Condo / Apartment | $650,000 | $11,000 |
| Detached House | $1,550,000 | $29,000 |
BC PTT is calculated on the fair market value of the property at the time of transfer. The tax uses a tiered structure:
| Price Tier | Rate |
|---|---|
| First $200,000 | 1% |
| $200,001 – $2,000,000 | 2% |
| $2,000,001 – $3,000,000 | 3% |
| Above $3,000,000 | 5% |
For a full breakdown and more examples, see our BC Property Transfer Tax guide.
Here's a step-by-step PTT calculation for a $650,000 purchase — close to the typical condo price in Victoria Drive:
| Tier | Calculation | Amount |
|---|---|---|
| 1% on first $200,000 | $200,000 × 1% | $2,000 |
| 2% on next portion | $450,000 × 2% | $9,000 |
| Total PTT | $11,000 |
On a $650,000 purchase in Victoria Drive, you would owe $11,000 in property transfer tax. This amount is due on the closing date and is paid through your BC notary or real estate lawyer.
BC first-time home buyers may qualify for a full property transfer tax exemption on homes priced at $835,000 or less — provided the home is new construction and you meet residency and occupancy requirements. A partial exemption applies for new homes between $835,000 and $860,000.
For resale (previously owned) homes, the exemption applies to purchases up to $500,000, with a partial exemption to $525,000.
Given typical Victoria Drive pricing, first-time buyers purchasing a new condo priced under $835,000 could save thousands of dollars in PTT. Always confirm your eligibility with a BC notary or real estate lawyer before closing.
Enter any purchase price to calculate your exact property transfer tax.
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