Vancouver is home to some of the most valuable residential properties in all of Canada. More than half of the 50 most expensive properties in British Columbia are either in Point Grey or on Point Grey Road, extending along the ocean in Kitsilano. The five most expensive residential properties in British Columbia for 2026 by BC Assessment value showcase the extraordinary concentration of wealth on Vancouver's West Side, where multi-million dollar estates line the waterfront with panoramic views of the Pacific Ocean and the North Shore mountains.
The Top 5 Most Valuable Homes in BC (2026)
The most expensive home in British Columbia is 3085 Point Grey Road in Vancouver, valued at $73,457,000, owned by Lululemon founder Chip Wilson. The property is in Kitsilano, a single family residential home of 15,700 square feet with 7 bedrooms and 9 bathrooms. Its previous 2025 assessment was $82,664,000, representing a fall of approximately 11%. Rank 2 is 4707 Belmont Avenue in Vancouver, valued at $68,878,000, located in Point Grey. This single family residential property fell 3% from its 2024 assessment. Rank 3 is James Island, valued at $57,096,000, located off Sidney on Vancouver Island in the Inner Islands area. This acreage property increased less than 1%. Rank 4 is 4743 Belmont Avenue in Vancouver, valued at $42,514,000, previously owned by philanthropists Joseph and Rosalie Segal who sold it in 2021 for $42 million. Located in Point Grey, this single family residential property dropped 4% from the previous year. Rank 5 is 4719 Belmont Avenue in Vancouver, valued at $40,600,000, with a lot size of 60,000 square feet and building size of 18,000 square feet. Located in Point Grey, the previous assessment was $43,390,000, a drop of 6.5%.
Vancouver's Most Expensive Neighbourhoods by Cost Index
Vancouver's most expensive neighbourhoods ranked by cost of living index reveal where wealth concentrates across the city. Shaughnessy sits at the top with a population of 9,433 and a cost index of 214, which is 58% higher than the Vancouver average. This tree-lined neighbourhood features grand heritage mansions and some of the largest residential lots in the city. Mackenzie Heights has a population of 1,724 and a cost index of 198, which is 46% higher than Vancouver. Kerrisdale has a population of 16,137 and a cost index of 185, which is 36% higher than Vancouver. Arbutus Ridge has a population of 17,296 and a cost index of 171, which is 26% higher than Vancouver. Oakridge has a population of 14,826 and a cost index of 169, which is 24% higher than Vancouver. South Cambie has a population of 10,187 and a cost index of 166, which is 23% higher than Vancouver. Quilchena has a population of 5,692 and a cost index of 161, which is 18% higher than Vancouver. Riley Park has a population of 25,442 and a cost index of 149, which is 10% higher than Vancouver. Marpole has a population of 27,843 and a cost index of 144, which is 6% higher than Vancouver. Cambie rounds out the top 10 with a population of 7,959 and a cost index of 144, also 6% higher than Vancouver.
Luxury Market Trends in 2026
The luxury segment of the Vancouver real estate market is experiencing notable shifts. Average residential prices in Greater Vancouver were $1,243,360 in late 2025, down 3.8% year-over-year. Sales volume was 20,332, down 9.4%. Active listings were 15,790, up 23%. Luxury properties are accumulating inventory favoring buyers, while entry-level and lower-priced homes with suites remain seller-favored. The detached benchmark reached $1,835,900, down 8.8% year-over-year. Vancouver West Side detached homes benchmarked at $2,931,700, down 13.7% year-over-year, the sharpest decline across all segments. West Side townhouses were $1,424,100, down 4.2% year-over-year. West Side apartments were $789,000, down 6.1% year-over-year. Royal LePage characterizes 2026 as a reset rather than a rebound, with aggregate Canadian prices rising only 1%.
What This Means for Luxury Buyers
For buyers interested in Vancouver's high-end market, the current environment presents rare opportunities. Over 80% of Metro Vancouver homes sold below asking price in 2025. Home sales hit 25-year lows in 2025, and inventory levels are at the highest point in 3 years. The market is classified as a strong buyers market with 8 months of supply. Royal LePage projects single-family homes at $1,610,915 in 2026, a 5% drop from current levels. CMHC expects marginal growth in sales and prices in 2026 and 2027 as high inventory constrains gains. The Bank of Canada overnight rate is currently 2.25% as of January 2026, with total cuts of 275 basis points since June 2024. This rate environment combined with softening luxury prices creates a window for well-capitalized buyers to enter Vancouver's most prestigious neighbourhoods at improved valuations compared to the 2022 peak.
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