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Request My Preferred Vendors ListFrequently Asked Questions
Expert answers to help you navigate the Metro Vancouver housing market.
How much is the Property Transfer Tax (PTT) in BC?
In BC, the PTT is calculated as 1% on the first $200,000, 2% on the portion greater than $200,000 up to $2,000,000, and 3% on the portion greater than $2,000,000. An additional 2% applies to the portion of fair market value greater than $3,000,000.
Are there PTT exemptions for First-Time Buyers?
Yes. Qualifying Canadian citizens or permanent residents buying their first home can receive a full PTT exemption on properties valued up to $835,000, and a partial exemption on properties up to $860,000, provided it will be used as their principal residence.
Are there tax exemptions for newly built properties?
Yes. The BC Newly Built Home Exemption reduces or eliminates the PTT on new construction or pre-sale properties. You can receive a full exemption on newly built homes valued up to $1,100,000, and a partial exemption up to $1,150,000.
What is the BC Speculation and Vacancy Tax (SVT)?
The SVT is an annual provincial tax targeting empty homes in specific regions. For 2026, the rate is 1% for Canadian citizens/permanent residents, and 3% for foreign owners/satellite families. All homeowners in taxable areas must complete an annual declaration to claim their exemption.
What is the Vancouver Empty Homes Tax (EHT)?
Specific to the City of Vancouver, properties deemed empty are subject to a 3% annual tax based on the assessed value. You must file an annual property status declaration to claim an exemption (such as if it is your principal residence or rented out long-term).
Do I need a REALTOR® to buy a pre-sale property?
Yes, it is highly recommended. Sales staff at a presentation centre work exclusively for the developer. Having your own REALTOR® ensures your best interests are protected and you understand the complex contract. Typically, the developer pays your agent's commission.