Vancouver’s west side and downtown are the most expensive neighbourhoods in Canada when it comes to of price-per-square foot (PPSF), according to a new Century 21 study.
A home in Vancouver West Side has a price-per-square foot (of PPSF), on average, of $1,210, compared with $962.75 downtown and $816.61 in West Vancouver.
“The West Side and West Vancouver are both known to be expensive neighbourhoods, said Century 21 Canada executive vice-president Brian Rushton. “However, homes in West Vancouver are typically larger and when you break the numbers down on a per-square-foot basis, it’s actually the west side that is more expensive.”
Coming in just ahead of West Vancouver, as Canada’s third most expensive neighbourhood, is Toronto downtown ($818.86). According to the study, seven of the country’s top 10 most expensive areas are located in the Lower Mainland.
The 10 most expensive neighbourhoods in Canada are:
- Vancouver’s west side ($1,201 per square foot);
- Vancouver downtown ($962.75 per square foot);
- Toronto downtown ($818.86 per square foot);
- West Vancouver ($816.61 per square foot);
- Vancouver’s east side ($718.75 per square foot);
- Oakville, Ontario ($627.33 per square foot);
- North Vancouver ($625.75 per square foot);
- Richmond ($614.20 per square foot);
- Burnaby ($588.11 per square foot); and
- Toronto’s Richmond Hill ($585.31 per square foot).
Century 21 last month revealed its list of priciest places in the world to buy residential real estate. Vancouver ranked sixth most expensive in the world to buy a condo and eighth priciest in the world to buy a single-family home.