The Victoria physician market.
Victoria combines a high-priced but smaller-scale market with the Island Health teaching network and University of Victoria. Prices are more attainable than Vancouver but still demand physician-program qualification flexibility, within BC's tiered Property Transfer Tax framework.
More attainable than Vancouver but still expensive; condos and townhomes are common physician entry points.
Closing costs: bc property transfer tax.
Why Victoria physicians use a specialist.
- —More attainable than Vancouver but still a high-priced BC market.
- —BC's tiered Property Transfer Tax applies, with first-time and new-build exemptions.
- —Island Health network supports resident and fellow training.
- —Projected income lets residents buy during training in an expensive market.
Teaching hospitals in Victoria.
We work with physicians across Victoria’s teaching network, from residents and fellows to attending and incorporated staff.
Victoria physician mortgage questions.
How much is the Property Transfer Tax in Victoria?01
British Columbia charges 1% on the first $200,000, 2% from $200,000 to $2,000,000, and 3% above. On a $950,000 Victoria home that is roughly $17,000 before any first-time buyer or newly-built home exemption.
Is Victoria more attainable than Vancouver for physicians?02
Generally yes. Victoria prices are high but more attainable than Vancouver. Physician programs qualify residents and attendings on projected and corporate income, and the PLOC can fund the down payment and transfer tax.
Prices and payment examples are estimates for planning only. Your actual numbers depend on income, down payment, debt, credit, location, and current lender pricing.