How much is the Property Transfer Tax in BC?

BC PTT is 1% on the first $200,000 of the fair market value, 2% on the portion from $200,001 to $2,000,000, 3% on $2,000,001 to $3,000,000, and 5% above $3,000,000. On a $750,000 purchase: 1% x $200,000 + 2% x $550,000 = $2,000 + $11,000 = $13,000 total PTT. (Note: amounts adjusted per actual rate schedule — verify with BC Ministry of Finance.)

Do first-time home buyers pay Property Transfer Tax in BC?

First-time buyers may be fully exempt from BC PTT on properties priced at or below $835,000 (as of 2024 thresholds). The buyer must be a Canadian citizen or permanent resident who has never owned a principal residence anywhere in the world and must occupy the property as their primary residence for at least one year after purchase. A partial exemption applies for homes priced between $835,000 and $860,000.

What is the BC Newly Built Home Exemption?

The Newly Built Home Exemption (NBHE) exempts qualifying new construction purchases from PTT on properties valued up to $1,100,000 (as of 2024). Unlike the first-time buyer exemption, it does not restrict prior home ownership. The buyer must be an individual (not a corporation) and must occupy the home as their principal residence for at least one year. A partial exemption applies from $1,100,000 to $1,150,000.

What is the Additional Property Transfer Tax (APTT) in BC?

The Additional PTT is an extra 20% tax on the foreign-owned portion of residential properties in Metro Vancouver and other prescribed areas, payable by foreign entities, satellite families, and certain foreign nationals. A Canadian citizen or permanent resident purchasing alone is not subject to the APTT. It applies on top of the standard PTT.

What are closing costs for a home purchase in BC?

Typical BC closing costs: PTT ($0 to $13,000+ depending on price and exemption status), legal fees ($1,200-$2,500), title insurance ($200-$500), home inspection ($400-$900), and any strata document review fees for condos. CMHC insurance is added to the mortgage, not a cash closing cost. Budget 1.5% to 3% of purchase price for closing costs.

What is the minimum down payment in BC?

BC follows federal minimum down payment rules: 5% for homes up to $500,000; 5% on the first $500,000 plus 10% on the portion between $500,000 and $999,999; 20% for homes priced $1 million or more. These are federal minimums — BC has no additional provincial requirement.

Is there GST on new homes in BC?

Yes. New homes in BC are subject to 5% GST. The federal GST/HST New Housing Rebate provides partial relief: 36% of the federal GST up to a maximum of $6,300 for primary residences valued up to $450,000, with a phase-out to $500,000. BC has its own provincial new housing rebate of 71.43% of the provincial component of the HST embedded rebate (BC did not adopt HST fully — it reverted to GST + PST in 2013).

How does the BC mortgage stress test differ from other provinces?

The stress test is identical across Canada for federally regulated lenders — OSFI Guideline B-20 applies uniformly. Borrowers must qualify at the higher of their contract rate plus 2% or 5.25%. BC credit unions are provincially regulated and are not subject to OSFI B-20, though the BC Financial Services Authority (BCFSA) applies comparable prudential standards.

What is the foreign buyer ban in BC?

Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act (foreign buyer ban) restricts non-Canadians from purchasing residential property in Canada, including BC. Exemptions apply for international students in degree programs, work permit holders who have filed Canadian taxes, and refugees. The ban is currently extended to January 1, 2027.

What is property transfer tax speculation and vacancy tax in BC?

The BC Speculation and Vacancy Tax (SVT) applies to residential properties in certain BC regions and is based on residency status and property use. Rates range from 0.5% (Canadian citizen or PR who is a BC resident) to 2% (other Canadian citizens/PRs) to 2% or higher for foreign owners. The SVT is separate from PTT — PTT is paid at purchase, SVT is annual.

BC Mortgage Calculator 2025 — Property Transfer Tax and Payments

Calculate your BC mortgage payment plus Property Transfer Tax with accurate first-time buyer exemption phase-out up to $835,000.

Reviewed by Canadian Money Help Editorial Updated April 24, 2026 Source BC Ministry of Finance — Property Transfer Tax

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The BC Mortgage Calculator estimates monthly payments and total closing costs for home purchases in British Columbia. BC buyers face the Property Transfer Tax (PTT), which at 3% on amounts above $200,000 is higher on a flat rate basis than Ontario’s land transfer tax for mid-range homes. First-time buyers and new home buyers benefit from significant PTT exemptions that can eliminate the tax entirely for qualifying purchases.

Quick Answer

On a $750,000 home purchase in BC with 10% down, the monthly mortgage payment at 5.0% over 25 years is approximately $3,926. BC PTT is $12,000 (1% on $200K + 2% on $550K). First-time buyers purchasing below $835,000 receive a full PTT exemption. CMHC insurance at 3.10% adds $20,925 to the insured mortgage. Total closing costs run approximately $17,000-$22,000.

BC Property Transfer Tax (PTT)

Home Value	Rate
First $200,000	1%
$200,001 to $2,000,000	2%
$2,000,001 to $3,000,000	3%
Over $3,000,000	5%

Source: BC Ministry of Finance, Property Transfer Tax Act.

BC PTT Exemptions

First-Time Home Buyer Exemption: Available for purchases of residential properties priced at or below $835,000 (full exemption) with a partial exemption up to $860,000 as of April 2024 rates. The buyer must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere in the world, and must occupy the property as their principal residence for at least one year.

Newly Built Home Exemption: Applies to purchases of newly built homes valued up to $1,100,000 (full exemption) with a partial exemption up to $1,150,000 (as of 2024). No prior ownership restriction applies — any buyer can claim the exemption.

Additional Property Transfer Tax (APTT): Foreign entities, satellite families, and certain foreign nationals purchasing residential property in Metro Vancouver (and other prescribed areas) pay an additional 20% PTT on the proportionate foreign-owned portion. This applies in addition to the standard PTT.

CMHC and BC Closing Costs

CMHC insurance applies to all purchases under 20% down at the same national rates. BC charges GST (5%) on CMHC premiums — unlike most provinces, BC does not exempt CMHC premiums from provincial sales tax because BC PST does not apply to insurance, but the federal GST does. BC legal fees for a standard residential purchase run approximately $1,200-$2,500.

Verified Against Source

BC PTT rates and exemption thresholds are published by the BC Ministry of Finance under the Property Transfer Tax Act (R.S.B.C. 1996, c. 378). CMHC rates are national. Source: gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax

Frequently asked questions

How much is the Property Transfer Tax in BC?: BC PTT is 1% on the first $200,000 of the fair market value, 2% on the portion from $200,001 to $2,000,000, 3% on $2,000,001 to $3,000,000, and 5% above $3,000,000. On a $750,000 purchase: 1% x $200,000 + 2% x $550,000 = $2,000 + $11,000 = $13,000 total PTT. (Note: amounts adjusted per actual rate schedule — verify with BC Ministry of Finance.)
Do first-time home buyers pay Property Transfer Tax in BC?: First-time buyers may be fully exempt from BC PTT on properties priced at or below $835,000 (as of 2024 thresholds). The buyer must be a Canadian citizen or permanent resident who has never owned a principal residence anywhere in the world and must occupy the property as their primary residence for at least one year after purchase. A partial exemption applies for homes priced between $835,000 and $860,000.
What is the BC Newly Built Home Exemption?: The Newly Built Home Exemption (NBHE) exempts qualifying new construction purchases from PTT on properties valued up to $1,100,000 (as of 2024). Unlike the first-time buyer exemption, it does not restrict prior home ownership. The buyer must be an individual (not a corporation) and must occupy the home as their principal residence for at least one year. A partial exemption applies from $1,100,000 to $1,150,000.
What is the Additional Property Transfer Tax (APTT) in BC?: The Additional PTT is an extra 20% tax on the foreign-owned portion of residential properties in Metro Vancouver and other prescribed areas, payable by foreign entities, satellite families, and certain foreign nationals. A Canadian citizen or permanent resident purchasing alone is not subject to the APTT. It applies on top of the standard PTT.
What are closing costs for a home purchase in BC?: Typical BC closing costs: PTT ($0 to $13,000+ depending on price and exemption status), legal fees ($1,200-$2,500), title insurance ($200-$500), home inspection ($400-$900), and any strata document review fees for condos. CMHC insurance is added to the mortgage, not a cash closing cost. Budget 1.5% to 3% of purchase price for closing costs.
What is the minimum down payment in BC?: BC follows federal minimum down payment rules: 5% for homes up to $500,000; 5% on the first $500,000 plus 10% on the portion between $500,000 and $999,999; 20% for homes priced $1 million or more. These are federal minimums — BC has no additional provincial requirement.
Is there GST on new homes in BC?: Yes. New homes in BC are subject to 5% GST. The federal GST/HST New Housing Rebate provides partial relief: 36% of the federal GST up to a maximum of $6,300 for primary residences valued up to $450,000, with a phase-out to $500,000. BC has its own provincial new housing rebate of 71.43% of the provincial component of the HST embedded rebate (BC did not adopt HST fully — it reverted to GST + PST in 2013).
How does the BC mortgage stress test differ from other provinces?: The stress test is identical across Canada for federally regulated lenders — OSFI Guideline B-20 applies uniformly. Borrowers must qualify at the higher of their contract rate plus 2% or 5.25%. BC credit unions are provincially regulated and are not subject to OSFI B-20, though the BC Financial Services Authority (BCFSA) applies comparable prudential standards.
What is the foreign buyer ban in BC?: Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act (foreign buyer ban) restricts non-Canadians from purchasing residential property in Canada, including BC. Exemptions apply for international students in degree programs, work permit holders who have filed Canadian taxes, and refugees. The ban is currently extended to January 1, 2027.
What is property transfer tax speculation and vacancy tax in BC?: The BC Speculation and Vacancy Tax (SVT) applies to residential properties in certain BC regions and is based on residency status and property use. Rates range from 0.5% (Canadian citizen or PR who is a BC resident) to 2% (other Canadian citizens/PRs) to 2% or higher for foreign owners. The SVT is separate from PTT — PTT is paid at purchase, SVT is annual.

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Methodology

Monthly payment using standard amortization (semi-annual compounding). BC PTT: 1% on first $200K, 2% on $200K-$2M, 3% on $2M-$3M, 5% above $3M. First-time buyer exemption up to $835K (2024). Newly built home exemption up to $1.1M. CMHC: national premium rates.

Frequently asked questions

How much is the Property Transfer Tax in BC?: BC PTT is 1% on the first $200,000 of the fair market value, 2% on the portion from $200,001 to $2,000,000, 3% on $2,000,001 to $3,000,000, and 5% above $3,000,000. On a $750,000 purchase: 1% x $200,000 + 2% x $550,000 = $2,000 + $11,000 = $13,000 total PTT. (Note: amounts adjusted per actual rate schedule — verify with BC Ministry of Finance.)
Do first-time home buyers pay Property Transfer Tax in BC?: First-time buyers may be fully exempt from BC PTT on properties priced at or below $835,000 (as of 2024 thresholds). The buyer must be a Canadian citizen or permanent resident who has never owned a principal residence anywhere in the world and must occupy the property as their primary residence for at least one year after purchase. A partial exemption applies for homes priced between $835,000 and $860,000.
What is the BC Newly Built Home Exemption?: The Newly Built Home Exemption (NBHE) exempts qualifying new construction purchases from PTT on properties valued up to $1,100,000 (as of 2024). Unlike the first-time buyer exemption, it does not restrict prior home ownership. The buyer must be an individual (not a corporation) and must occupy the home as their principal residence for at least one year. A partial exemption applies from $1,100,000 to $1,150,000.
What is the Additional Property Transfer Tax (APTT) in BC?: The Additional PTT is an extra 20% tax on the foreign-owned portion of residential properties in Metro Vancouver and other prescribed areas, payable by foreign entities, satellite families, and certain foreign nationals. A Canadian citizen or permanent resident purchasing alone is not subject to the APTT. It applies on top of the standard PTT.
What are closing costs for a home purchase in BC?: Typical BC closing costs: PTT ($0 to $13,000+ depending on price and exemption status), legal fees ($1,200-$2,500), title insurance ($200-$500), home inspection ($400-$900), and any strata document review fees for condos. CMHC insurance is added to the mortgage, not a cash closing cost. Budget 1.5% to 3% of purchase price for closing costs.
What is the minimum down payment in BC?: BC follows federal minimum down payment rules: 5% for homes up to $500,000; 5% on the first $500,000 plus 10% on the portion between $500,000 and $999,999; 20% for homes priced $1 million or more. These are federal minimums — BC has no additional provincial requirement.
Is there GST on new homes in BC?: Yes. New homes in BC are subject to 5% GST. The federal GST/HST New Housing Rebate provides partial relief: 36% of the federal GST up to a maximum of $6,300 for primary residences valued up to $450,000, with a phase-out to $500,000. BC has its own provincial new housing rebate of 71.43% of the provincial component of the HST embedded rebate (BC did not adopt HST fully — it reverted to GST + PST in 2013).
How does the BC mortgage stress test differ from other provinces?: The stress test is identical across Canada for federally regulated lenders — OSFI Guideline B-20 applies uniformly. Borrowers must qualify at the higher of their contract rate plus 2% or 5.25%. BC credit unions are provincially regulated and are not subject to OSFI B-20, though the BC Financial Services Authority (BCFSA) applies comparable prudential standards.
What is the foreign buyer ban in BC?: Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act (foreign buyer ban) restricts non-Canadians from purchasing residential property in Canada, including BC. Exemptions apply for international students in degree programs, work permit holders who have filed Canadian taxes, and refugees. The ban is currently extended to January 1, 2027.
What is property transfer tax speculation and vacancy tax in BC?: The BC Speculation and Vacancy Tax (SVT) applies to residential properties in certain BC regions and is based on residency status and property use. Rates range from 0.5% (Canadian citizen or PR who is a BC resident) to 2% (other Canadian citizens/PRs) to 2% or higher for foreign owners. The SVT is separate from PTT — PTT is paid at purchase, SVT is annual.