Vancouver condo prices see huge jump over detached homes in past decade
Vancouver remains one of the most expensive places to buy a home in the world, and a new housing report has uncovered a growing price disparity between detached homes and condos in the region.
Real estate company Zoocasa has published an affordability report that looked at major Canadian markets to see which housing type was the better investment over the past decade.
The report published on Monday, March 16, revealed that condo prices experienced a huge leap when compared to detached home prices in Vancouver.
“Vancouver condo prices grew 40.1 per cent over the decade, more than triple the 13.1 per cent gain for detached homes,” said Zoocasa in a release.
“As detached homes became less accessible, demand shifted to condos, driving up their value at a much faster rate.”
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Detached home prices in Greater Vancouver spiked from $1,826,541 in 2016 to $2,065,837 in 2026.
Condo prices jumped from $517,147 to $724,561 in the same period of time.
However, condos in another B.C. city saw the biggest leap in prices in the 10-year span.
Zoocasa
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“Victoria was the strongest condo performer in the country, with values nearly doubling (+99.5 per cent),” added Zoocasa.
“Unlike other markets, that growth never stalled after 2021.”
Condo prices in Victoria skyrocketed from $334,775 in 2016 to $667,906 in 2026.
Zoocasa said that Victoria saw the most consistent returns of any market in Western Canada, as well as the strongest performing condos in its condos versus houses study.
“The contrast with Greater Vancouver is notable: Vancouver’s detached market returned just 13.1 per cent and its condos 40.1 per cent, less than half of Victoria’s condo gains.
“Victoria offered stronger returns at a lower entry price across both property types.”
You can view the full Zoocasa report online.
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Metro Vancouver Regional District is planning to build at least 2,000 new and redeveloped affordable homes over the next 10 years as part of a new long-term strategy aimed at addressing the region’s severe housing affordability and supply issues.
The regional district’s new housing strategy through 2035 sets a target of generating an average of 200 new units annually, expanding the regional district’s housing portfolio by roughly 50 per cent to 5,100 units.
With files from Daily Hive staff