Richmond BC Property Transfer Tax Calculator 2025

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Calculate your exact BC Property Transfer Tax for a Richmond home purchase. Includes first-time buyer exemptions for new construction, foreign buyer surcharge information, and Richmond closing cost guide for 2025.

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Richmond BC PTT Calculator

Home Purchase Price ($) Buyer Type

BC Property Transfer Tax — Richmond BC 2025

1% on the first $200,000
2% on $200,001 to $2,000,000
3% on $2,000,001 to $3,000,000
5% on amounts above $3,000,000

Richmond FTB Exemption: Full PTT exemption on new homes up to $835,000. Partial exemption on new homes $835,001–$860,000. BC resident, first-time buyer, must occupy within 92 days. Richmond also falls within the Metro Vancouver zone for the 200% Additional PTT for foreign buyers.

Richmond BC PTT by Property Type

Property Type	Typical Price Range	BC PTT (General)	FTB Eligible?
Condo (1BR)	$550K–$750K	$10,000–$13,000	Possibly (new builds ≤$835K)
Condo (2BR)	$750K–$1.1M	$13,000–$20,000	Sometimes (new builds ≤$835K)
Townhouse	$900K–$1.4M	$16,000–$26,000	Rarely
Detached home	$1.5M–$3M+	$28,000–$68,000+	No
Luxury estate	$3M–$8M+	$68,000–$300,000+	No

Richmond Closing Costs — Full Breakdown

Typical Closing Costs for a $1,000,000 Richmond Home

BC Property Transfer Tax: $18,000 (general buyer) / $00 (FTB new home ≤$835K)
Legal/Notary fees: $1,500–$3,000
Title insurance: $300–$500
Home inspection: $400–$600
Property tax adjustment: Varies by closing date
Strata fees adjustment (condos): Varies
Total estimated closing costs: $20,000–$23,000+ (general buyer on $1M)

Richmond savings tip: On a qualifying $800,000 new Richmond condo, the first-time buyer PTT exemption saves $14,000 at closing — enough to cover all other closing costs combined. Maximizing pre-purchase savings with EQ Bank (3.0000% savings) and KOHO cash back helps reach down payment goals faster.

Frequently Asked Questions

What is the BC PTT on a $1,200,000 Richmond home?

On a $1,200,000 purchase in Richmond, the BC PTT is $22,000 — $2,000 on the first $200K (1%) plus $20,000 on the remaining $1,000,000 (2%). Richmond's typical condo and townhouse prices place most purchases in the 2% tier. The first-time buyer exemption does not apply to purchases above $835K for new homes.

Does Richmond have a foreign buyer tax?

Yes — Richmond is within Metro Vancouver and BC's Additional Property Transfer Tax (APTT) for foreign buyers at 200% applies. On a $1M Richmond home, a foreign buyer pays $18,000 PTT plus $200,000 APTT = $218,000 total transfer taxes. The APTT has significantly reduced foreign buyer activity in Richmond since 20016 but the market remains influenced by newcomer demand from Asia-Pacific.

Are there PTT exemptions for new Richmond condos?

Yes — BC's Newly Built Home Exemption exempts first-time buyers from PTT on new construction homes priced at or below $835,000. In Richmond, new condo developments in City Centre and near Canada Line stations sometimes price in the $650K–$835K range for 1-bedroom units, making them potentially eligible. Buyers must be BC residents, Canadian citizens or PRs, and have never previously owned a principal residence anywhere in the world.

What is the best area to buy in Richmond for first-time buyers?

For first-time buyers seeking the PTT exemption on new construction, areas near Canada Line stations (Richmond-Brighouse, Lansdowne, Aberdeen, Bridgeport) have active condo development with some units pricing near or below $835K. City Centre and the No. 3 Road corridor have the most new construction activity. Elsewhere, east Richmond's older townhouse stock may be more affordable but typically doesn't qualify for the new home FTB exemption.