Vancouver - breathtaking scenery, great climate, and very expensive houses. You may have heard that Vancouver is expensive, but did you know that it’s the most expensive city in Canada?
However, the high price you pay to become a resident Vancouverite is definitely worth it. Most of the city's neighbourhoods are stunning, safe, and positioned near amenities and countryside escapes. This is part of the reason why Vancouver is so expensive. Other reasons for its opulence include its high level of tourism and its limited amount of available land.
But where is the most expensive area in Vancouver to live? Ask Genie has the answer! If you're considering moving to the wealthiest city in Canada, this article will highlight where the big spenders like to live.
The 8 Richest Neighborhoods in Vancouver
Out of all the Canadian cities, Vancouver is the one you definitely need to have money to live comfortably in. Vancouver has some of the richest neighbourhoods in the country in terms of real estate. The city is also populated with expensive restaurants, boutique shops, and expensive recreational activities.
In this section, we've picked out 9 of the wealthiest neighbourhoods in the city. We define 'richest' by neighbourhoods that have the most expensive real estate and that are generally populated by the well-off.
1. Point Grey Road, Kitsilano
Most expensive property: $73.12 million.
Kitsilano is a significant neighbourhood located on the west side of the city. It rests right on the south shore of English Bay and is home to many opulent waterside properties. The most expensive properties can be found on Point Grey Road, which runs right along the coast.
On Point Grey Road, you'll find the best in both contemporary and classic waterfront architecture styles. You have the Canadian businessman Chip Wilson's mansion perched right on the bay. This is the most expensive property in the whole of Vancouver, worth $73.12 million.
Besides the modern mansions that can be found dotted along the street, there are also more rudimentary beach home retreats. These buildings are surrounded by decking that leads right onto the waterfront.
Like some other stretches of Kitsilano, Point Grey Road is only accessible by private road. This makes a good chunk of the neighbourhood exclusive for the rich and famous of Vancouver. Even with the private roads, many of the homes secure extra privacy with tall gates and extra tall hedges.
2. Point Grey
Most expensive property: $65.47 million
If you follow Point Grey Road, you'll reach Vancouver's second most expensive neighbourhood. West Vancouver, it seems, is where you can find several of the most wealthy districts of the city!
While Point Grey boasts some real estate along the coast, it also features some mega-expensive properties further inland. Here, in the sprawling estates, you'll find some of the priciest properties in Point Grey. The imposing facades of these buildings are nearly all European-inspired. You can find Greek-style mansions and Revivalist structures throughout.
Some of the most impressive - and, unsurprisingly, expensive - homes can be found on Marine Drive and Belmont Avenue. These buildings tend to be lofty in height, commanding unparalleled views of both the English Bay and the skyline of Metro Vancouver.
Many feature rooftop patios, perfect for admiring the view on a warm summer evening. Ten properties in the neighbourhood's Belmont Avenue are ranked as some of the most expensive homes in the city.
4707 Belmont Avenue is the most expensive of the lot. This swanky modern building boasts 28,794 square feet worth of living space. The majority of this living space can be found on the upper floors, providing them with spectacular views of the city. This $65.47 million property also features a 1.719-acre lot, complete with a pool and tennis courts.
3. Coal Harbour
Most expensive property: $49 million
Coal Harbour in Vancouver is one of the most central Vancouver residential districts. It includes the lofty penthouse Three Harbour Green.
A property in Three Harbour Green went on the market for $49 million in March 2022. The floor-to-ceiling windows give residents a panoramic view of Metro Vancouver, with the mountains serving as a dramatic backdrop. Based over three fours and featuring 20-foot ceilings, this property also has a terrace complete with a 2500-sq-ft Zen garden.
Besides Three Harbour Green, there are several other expensive apartment buildings throughout the Coal Harbour area - particularly in and around Thurlow Street.
Coal Harbour is home to a mix of residential and business properties, with many office workers residing in the area. Plus, Coal Harbour is nearby the other business centers of the city, including the West End and Downtown.
Most expensive property: $39.9 million
West Vancouver is definitely the most expensive side of the city. It's home to several rich neighbourhoods, which include Westmount, Cammeray, and Altamont.
However, Chartwell took the lead in 2018 when a creekside property went on the market for $39.9 million. The 20,279-square-foot property was built back in 1985 and is a labyrinth inside. This property is so big that potential buyers had to book hour slots to view it in its entirety!
Chartwell takes up a cool stretch of West Vancouver, being located on the Cypress Mountain hillside. The neighbourhood is on a slight incline, and the further you go, the more luxurious the houses get. Marlowe Place is the street with the most expensive houses in the neighbourhood.
The Cypress Provincial Park starts nearby, with plenty of walking and hiking trails snaking around these luxury houses. Winters are best spent at the Chartwell ski hill.
For the less adventurous, Chartwell is bustling with plenty of alternative leisure options. The well-off residents of this neighbourhood like to wile away quiet afternoons at the Capilano Golf Club and the Hollyburn Country Club.
Most expensive property: $35.16 million
In central Vancouver, you'll find the expansive neighbourhood of Shaughnessy. It consists of 447 hectares of almost purely residential streets. Obviously, not every house in Shaughnessy is worth millions, but many of the houses are. You can find luxury abodes with huge price tags, particularly in Shaughnessy Heights, the Crescent, and Osler Street.
Osler Street is where you can find a property with a value of $35.16 million. 3489 Osler Street has it all: an indoor pool, lush gardens, and even underground parking. This palace also features a maid's residence that is 2,000 square feet in size. Walking along the rest of Osler Street, you'll encounter other massive Tudor-styled buildings.
Next to Osler Street, you'll find The Crescent. It's called The Crescent because this street circles around a small park, which gives the area a peaceful and quaint charm. This mood is further emphasized by the old architectural style of the houses, many of which have loomed over the street for more than a century.
Shaughnessy Heights is where many of Vancouver's wealthiest residents reside. The average price for a house is $3.08 million.
6. West Bay
Most expensive property: $33.2 million
In West Vancouver, you'll find several lavish neighbourhoods. One of the most expensive is West Bay, which features the plush Radcliffe Avenue. 3330 Radcliffe Avenue is the most expensive property in the area, which was designed by Russell Hollingsworth. This property features five bedrooms, six bathrooms, and one unbeatable waterfront view.
The houses that decorate the bay are mostly contemporary and cutting-edge in design. Stone, oak, and cedar are the most dominant building materials used in the neighbourhood's architecture. These natural materials enhance the wild appearance of West Vancouver and give the neighbourhood less of a city vibe and more of a small-town feeling.
The large properties found in West Bay are close to some top attractions. This includes Lighthouse Park, Sewell's Marina, and Cypress Mountain. This makes these luxurious homes ideal for nature lovers - as long as they've got a good few million to spend on a property!
Most expensive property: $22.19 million
Southlands finds itself southwest of Vancouver and is home to a good mix of expensive and more affordable housing. The most expensive strip in this neighbourhood is Marine Drive, 2106 being the priciest property. This 4.2-acre site is home to a 10,000-square-foot home.
2106 Marine Drive sits right by the Fraser River, which acts as the precinct for the Southlands neighbourhood. Adjacent to the property, you'll find the luxurious McCleery Driving Range.
8. University Endowment Lands
Average house price: $1.32 million (USD)
It may not be one of the official most expensive neighbourhoods to live in Vancouver. However, it's worth mentioning University Endowment Lands. Mainly because it gets a bad rap - it's not full of university accommodation, as the name implies.
In fact, it's full of richly diverse houses, with both contemporary and classic Canadian architecture on display. Nearly all the homes in University Endowment Lands boast unobstructed views of the Howe Sound. They also provide residents with direct access to Oasis and Wreck Beach.
For the fanciest houses, check out the properties that line Newton Wynd. This area offers increasingly stunning views the further up the hill you go.
University Endowment Lands may not be home to any of Vancouver's most expensive homes at the moment. However, it could definitely head in that direction in the future.
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You might also be interested in some of our other work from the Ask Genie blog:
- The Most Expensive Restaurants in Vancouver, Canada?
- Vancouver’s Most Expensive Condos
- Most Expensive Restaurants in Calgary, Canada
- What Are The Most Expensive Houses In Vancouver?
- Where Can You Buy the Most Expensive Sushi in Toronto, Canada?
- The World's Most Expensive Restaurants Revealed!
- What Are The Most Expensive Restaurants In Montreal?
- Most Expensive Restaurants In Toronto You Should Try
- Most Expensive Houses Ever To Be Sold In Calgary!
- Which Rapper Has The Most Expensive House In The World
- The Most Expensive Hotels To Stay At In Toronto, Canada
- What Are the Most Expensive Cities in North America?
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- Most Expensive Cities In The World
- Most Expensive Neighborhoods In Edmonton, CA
Do a lot of millionaires live in Vancouver?
There is a vast number of houses that are worth millions of dollars on the likes of Point Grey Road. With this in mind, it's safe to assume that Vancouver has its fair share of millionaires. In fact, it became Canada's first 'city of millionaires' in 2014. It was awarded this title when the average annual household income was found to be $1,036,202.
Are there any celebrities that live in Vancouver?
Vancouver is home to some famous actors, including Star Wars star Hayden Christensen and Finn Wolfhard from Stranger Things. Other celebrity residents include Michael Buble, Sarah McLachlan, and Bryan Adams. Given the number of magnificent homes and rich neighbourhoods in the city, it's no wonder it's home to several stars.
What is the most affordable neighbourhood in Vancouver?
The neighbourhood of Renfrew-Collingwood is the most affordable in Vancouver. You can find the most affordable housing options on the city's eastern side. However, consider Uni Endowment Lands if you want affordable neighbourhoods with impressive houses.