{"id":223773,"date":"2022-03-23T16:18:59","date_gmt":"2022-03-23T20:18:59","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=223773"},"modified":"2024-02-19T02:51:05","modified_gmt":"2024-02-19T07:51:05","slug":"metro-vancouver-apartment-new","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/news\/metro-vancouver-apartment-new","title":{"rendered":"The average Vancouver apartment costs $807,900. How does that compare to new construction?"},"content":{"rendered":"<h4 id='pressboard-ad-sponsorship-tag' style='margin-bottom: 35px;'><\/h4><p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/03\/w63-condo.jpeg\" rel=\"lightbox[223773]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-223778 size-full\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/03\/w63-condo.jpeg\" alt=\"What $807,900 buys you Metro Vancouver's new construction market.\" width=\"1920\" height=\"1017\" \/><\/a><em>Rendering:\u00a0W63 Mansion by\u00a0Hansen Pacific via BuzzBuzzHome<\/em><\/p>\n<p>Condo apartments account for most of the sales within Metro Vancouver these days, and prices for this property type are on an upward trend.<\/p>\n<p>According to the <a href=\"https:\/\/www.livabl.com\/articles\/2022\/03\/metro-vancouver-rush-listings-february-undersupplied.html\">latest data from<\/a> the Real Estate Board of Greater Vancouver (REBGV), there were 1,854 apartments sold during February, up 5.4 per cent from the same month last year. Substantially more condos traded hands last month compared to detached (1,010 sales) or attached properties (560 homes sold.)<\/p>\n\n<p>Price wise, you\u2019ll probably fork out an average of $807,900 for an apartment in Metro Vancouver as of February. Although the benchmark price for apartments in the region have increased 15.9 per cent year-over-year and 4.1 per cent from January, you\u2019ll pay much less than you would for a detached property ($2,044,800) or an attached home ($1,090,000).<\/p>\n<p>In light of \u201cincredible momentum in the market,\u201d more developers are launching new condos across Greater Vancouver, with more than 4,100 new construction condo apartments expected to come to market by the end of Q1-2022. If you\u2019re wondering how far your money would stretch for the average $807,900 resale condo in the new construction segment, here\u2019s a breakdown of five new condo plans and units you can find in Metro Vancouver for about the same price.<\/p>\n<p><em>Prices, plans and unit information have been sourced from data found on BuzzBuzzHome\u2019s search map. This is not a definitive list of all of the condo units or plans available near the $807,900 price point.<\/em><\/p>\n<h3><a href=\"https:\/\/www.livabl.com\/monaco1\/units\/condos\/a6\">Unit \u200b\u200bA6<\/a> at <a href=\"https:\/\/www.livabl.com\/white-rock-bc\/monaco\">Monaco<\/a> &#8211; $809,900<\/h3>\n<p><em>Developer: <a href=\"https:\/\/www.livabl.com\/builder\/solterra-group-of-companies\">Solterra Group of Companies<\/a><\/em><br \/>\n<em> Status: Selling, pre-construction<\/em><br \/>\n<em> Specs: One-and-a-half bedrooms, two bathrooms, 755 square feet<\/em><br \/>\n<em> Neighbourhood: <a href=\"https:\/\/www.livabl.com\/white-rock-bc\/new-homes\">White Rock<\/a><\/em><br \/>\n<em> Project last updated: Mar 08, 2022<\/em><\/p>\n<p>Located on the lower half of Johnston Road, Monaco is close to Semiahmoo Bay, White Rock Promenade and Ruth Johnson Park. Future residents will have access to a host of on-site amenities, including a rooftop community garden, a hobby room and a fitness centre.<\/p>\n<h3><a href=\"https:\/\/www.livabl.com\/w63-mansion\/units\/condos\/a2\">Plan A2<\/a> at <a href=\"https:\/\/www.livabl.com\/vancouver-bc\/w63-mansion\">W63 Mansion<\/a> &#8211; From $803,800<\/h3>\n<p><em>Developer: <a href=\"https:\/\/www.livabl.com\/builder\/hansen-pacific\">Hansen Pacific<\/a><\/em><br \/>\n<em> Status: Selling, under construction<\/em><br \/>\n<em> Specs: One-and-a-half bedrooms, one bathrooms, from 562 square feet<\/em><br \/>\n<em> Neighbourhood: <a href=\"https:\/\/www.livabl.com\/cambie-vancouver-bc\/new-homes\">Cambie<\/a>, <a href=\"https:\/\/www.livabl.com\/vancouver-bc\/new-homes\">Vancouver<\/a><\/em><br \/>\n<em> Project last updated: Feb 24, 2022<\/em><\/p>\n<p>A collection of just 29 homes, W63 Mansion is located near Vancouver\u2019s bustling Cambie Street. When complete in early 2023, this four-storey building will be walking distance to Winona Park, the Marine Drive SkyTrain station and several retailers south of SW Marine Drive.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/03\/the-oaks.jpeg\" rel=\"lightbox[223773]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-223777 size-full\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/03\/the-oaks.jpeg\" alt=\"Here's $807,900 gets you Metro Vancouver's new construction market.\" width=\"1626\" height=\"1080\" \/><\/a><em>Rendering:\u00a0The Oaks by\u00a0Strand via BuzzBuzzHome<\/em><\/p>\n<h3><a href=\"https:\/\/www.livabl.com\/the-oaks14\/units\/condos\/d5\">Plan D5 <\/a>at <a href=\"https:\/\/www.livabl.com\/coquitlam-bc\/the-oaks-phase-3-willow\">The Oaks<\/a> &#8211; From $809,900<\/h3>\n<p><em>Developer: <a href=\"https:\/\/www.livabl.com\/builder\/strand\">Strand<\/a><\/em><br \/>\n<em> Status: Selling, under construction<\/em><br \/>\n<em> Specs: Two-and-a-half bedrooms, two bathrooms, from 1,026 square feet<\/em><br \/>\n<em> Neighbourhood: <a href=\"https:\/\/www.livabl.com\/coquitlam-west-coquitlam-bc\/new-homes\">Coquitlam West<\/a>, <a href=\"https:\/\/www.livabl.com\/coquitlam-bc\/new-homes\">Coquitlam<\/a><\/em><br \/>\n<em> Project last updated: Jan 31, 2022<\/em><\/p>\n<p>In Coquitlam West, The Oaks offers a collection of family-friendly homes with a range of one- to three-and-a-half-bedroom layouts. The development delivers a half-acre courtyard finished with walking paths, gardens, a barbeque area and a play space for little ones to enjoy.<\/p>\n<h3><a href=\"https:\/\/www.livabl.com\/cedar-creek3\/units\/the-signature-collection\/e1\">Plan E1<\/a> at <a href=\"https:\/\/www.livabl.com\/burnaby-bc\/cedar-creek-signature-collection\">Cedar Creek<\/a> &#8211; From $799,900<\/h3>\n<p><em>Developer: <a href=\"https:\/\/www.livabl.com\/builder\/ledingham-mcallister\">Ledingham McAllister<\/a><\/em><br \/>\n<em> Status: Selling, under construction<\/em><br \/>\n<em> Specs: Three bedrooms, two bathrooms, from 900 square feet<\/em><br \/>\n<em> Neighbourhood: <a href=\"https:\/\/www.livabl.com\/edmonds-burnaby-bc\/new-homes\">Edmonds<\/a>, <a href=\"https:\/\/www.livabl.com\/burnaby-bc\/new-homes\">Burnaby<\/a><\/em><br \/>\n<em> Project last updated: Jan 25, 2022<\/em><\/p>\n<p>The west coast design of this mid-rise project by Ledingham McAllister is said to be inspired by the \u201crugged and regal,\u201d British Columbia cedar. Suites in this project feature nine-foot ceilings, balconies or patios with outdoor lighting and the purchaser\u2019s pick from one of two designer palettes.<\/p>\n<h3><a href=\"https:\/\/www.livabl.com\/fraser-commons-at-marine\/units\/condos\/c3\">Plan C3<\/a> at <a href=\"https:\/\/www.livabl.com\/vancouver-bc\/new-homes\">Fraser Commons at Marine<\/a> &#8211; Last listed from $809,900<\/h3>\n<p><em>Developer: <a href=\"https:\/\/www.livabl.com\/builder\/serracan-properties\">Serracan Properties<\/a><\/em><br \/>\n<em> Status: Selling, completed summer 2021<\/em><br \/>\n<em> Specs: Two-and-a-half bedrooms, two bathrooms, from 764 square feet<\/em><br \/>\n<em> Neighbourhood: <a href=\"https:\/\/www.livabl.com\/sunset-vancouver-bc\/new-homes\">Sunset<\/a>, <a href=\"https:\/\/www.livabl.com\/vancouver-bc\/new-homes\">Vancouver<\/a><\/em><br \/>\n<em> Project last updated: Mar 15, 2022<\/em><\/p>\n<p>Rising 21 storeys near Fraser Street and SE Marine Drive, Fraser Commons at Marine features a series of contemporary condos and townhomes. Each residence features wood laminate flooring, quartz kitchen countertops and large-format porcelain tiles in the bathrooms.<\/p>\n<div id='pressboard-ad-sponsorship-msg'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Condo apartments account for most of the sales within Metro Vancouver these days, and prices for this property type are on an upward trend.<\/p>\n","protected":false},"author":49,"featured_media":223778,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2022-03-23T20:19:10Z","apple_news_api_id":"c1c6c6ae-e65d-444c-9e82-e51e2ff460fa","apple_news_api_modified_at":"2022-03-23T20:19:11Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AwcbGruZdREyeguUeL_Rg-g","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11108],"tags":[11199,11209,3422],"coauthors":[10332],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - 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