Vancouver Homes Under $700K
The $500K-$700K range opens up significantly more options in Vancouver, including one-bedroom condos in premium locations, two-bedroom units in more affordable areas, and newer buildings with better amenities.
At $500K-$700K, you can find quality one-bedroom condos in Kitsilano, Fairview, and Mount Pleasant, or two-bedroom units in the West End, Marpole, and East Vancouver. This is the sweet spot for first-time buyers looking to balance location, size, and affordability.
What You Can Buy
Property Types Available
- ✓1-bedroom condos
- ✓1-bed + den condos
- ✓Older 2-bedroom condos
- ✓Newer studios in premium locations
Ideal Buyer Profile
First-time buyers wanting more space, couples, young professionals in desirable neighbourhoods, and investors targeting the strongest rental price-to-purchase ratios.
Market Insight
This price range sees solid activity from both first-time buyers and investors. With the BoC at 2.25% and prices softened ~6% YoY, buyers have more negotiating power. Well-priced units in transit-adjacent buildings still sell within days. The partial first-time buyer PTT exemption applies up to $835K.
Best Neighbourhoods Under $700K
| Neighbourhood | Property Types | Notes |
|---|---|---|
| Kitsilano | 1-bed condos | Beach lifestyle, near UBC, premium location |
| Fairview | 1-bed, 1+den condos | Central, Broadway Subway coming, near VGH |
| Mount Pleasant | 1-bed condos | Creative hub, excellent transit, trendy area |
| West End | 2-bed condos | Larger units available at this price, near beaches |
| False Creek | 1-bed condos | Waterfront living, seawall access |
| Collingwood | 2-bed condos | Spacious units near SkyTrain |
Financing Considerations
- •Down payment: 5% on first $500K + 10% on the remainder ($25K + $20K = $45K on $700K)
- •CMHC insurance required under 20% down
- •Partial first-time buyer PTT exemption available ($500K-$835K range)
- •Strong qualifying position — this mortgage range is well within typical dual-income capacity
- •Consider accelerated payments to build equity faster
Browse by Budget
Frequently Asked Questions
What can I buy in Vancouver for $500K-$700K?
This range opens up quality one-bedroom condos in desirable areas like Kitsilano, Fairview, and Mount Pleasant, as well as two-bedroom units in the West End, Marpole, and East Vancouver. You'll find newer buildings with better amenities and larger floor plans than the sub-$500K segment.
Is $700K enough for a 2-bedroom in Vancouver?
Yes, and the softening market has improved options. Two-bedroom condos under $700K are available in the West End, Collingwood, Marpole, and some East Vancouver areas. These may be in older buildings (1990s-2000s). For newer two-bedrooms, you'll typically need $700K+.
How much do I need to earn to buy a $700K condo?
With 10% down and current rates (BoC at 2.25%, variable mortgages around 4.0-4.5%), you'd need a household income of approximately $110K-$130K to qualify under the stress test. A dual-income household of two professionals can typically reach this threshold. Exact qualification depends on your debts, credit score, and the strata fees of the specific unit.
Should I buy in East Van or Westside at this price?
At $700K, East Vancouver offers more space (larger 1-beds or 2-beds) while Westside offers premium location (Kits, Fairview) in smaller units. If space is your priority, East Van delivers more value. If lifestyle and location matter most, Westside compact units in walkable areas are hard to beat.
What are the best buildings for condos under $700K?
Look for buildings with strong strata management, adequate contingency reserves, and recent depreciation reports. Buildings along the Canada Line (Cambie), near Broadway stations, and in established neighbourhoods tend to hold value best. Your agent can identify specific buildings with good track records in your target area.
Live MLS®
Vancouver homes under $700k — for sale now
Live MLS® listings inside the under $700k bracket in the City of Vancouver. Refine by beds, baths, or property type below.
Find Your Home in Vancouver
Our team knows every corner of the Vancouver market. Whether your budget is $500K or $5M, we'll find the right property in the right neighbourhood for your needs.