If you’ve been exploring the idea of building a home in beautiful Greater Victoria, one of the first questions you’ll likely ask is: How much does land cost? Whether you’re a first-time buyer looking for a piece of paradise or an experienced homeowner ready to build your dream estate, the journey begins with finding the right plot of land. Here at Stillwater, we’ve guided many clients through this process, helping them navigate everything from site selection and budgeting to design and construction.
In this post, we’ll not only dive into what influences land prices in Greater Victoria and break down costs by area but also highlight key considerations—from finding the right plot to navigating financing, permits, and common pitfalls. By the end, you’ll have a solid understanding of local land costs and a few insider tips to guide your search for the perfect property.
Why Invest in Greater Victoria Real Estate?
Greater Victoria consistently ranks as one of Canada’s most desirable regions to live, and with good reason. First, the mild climate and stunning natural scenery, from lush forests to coastal vistas, provide a year-round playground for outdoor enthusiasts.
Second, the local economy benefits from a blend of government, tech, and tourism sectors, which helps maintain stable property values over time.
Finally, the sense of community here—whether you’re in a bustling urban center like Victoria or a more laid-back rural enclave—draws people from all over the world who are looking to settle down in a place that offers both convenience and natural beauty. For those interested in a return on investment, Greater Victoria’s steady growth and limited land supply often translate to robust property appreciation, making it an attractive choice for real estate buyers.
How to Find the Right Plot of Land
The first step to a successful build is finding a lot that aligns with your vision and budget. Start by making a list of priorities—do you want to be near schools and shops, or is a quiet rural setting more appealing? Consider practicalities like proximity to utilities and road access. Browse online listings, consult local real estate boards, and explore municipal websites for zoning maps to ensure the property supports your building plans. Drive around different neighbourhoods (or take virtual tours if you’re not local) to get a feel for their vibe, traffic patterns, and community amenities. Working with professionals—like a real estate agent or a design-build firm that understands your needs—can save you from investing in a site with hidden challenges.
Financing Your Land Purchase
Purchasing raw land often differs from buying an existing home. While a conventional mortgage might be available in some cases, many buyers need specialized land loans or construction mortgages. These loans can require larger down payments and carry higher interest rates because lenders perceive raw land as a greater risk. It’s crucial to factor in potential additional costs, such as site prep, utility hookups, or road improvements, when calculating your total financing needs. Shop around for lenders experienced in land and construction financing, and be prepared for more in-depth documentation on how you plan to develop the property.
Tips for Working With a Real Estate Agent
A realtor who knows the ins and outs of Greater Victoria’s land market can be a valuable ally. Look for someone experienced in raw land transactions, as these can be more complex than residential home sales. They’ll be able to provide details about local market trends, identify red flags (like challenging topography or complex zoning rules), and negotiate on your behalf. Make sure they have a solid local network of inspectors, municipal contacts, and other professionals, so you get comprehensive advice at every stage of your purchase.
Permits and Municipal Regulations in Greater Victoria
Each municipality within Greater Victoria has its own zoning bylaws, environmental restrictions, and permit processes. Before you commit to a parcel, research whether it falls under specific design guidelines, heritage restrictions, or environmentally sensitive areas. For instance, waterfront lots may require additional permits related to shoreline protection, while heavily wooded sites might need tree-cutting permits. Familiarizing yourself with these regulations early helps you avoid delays once you’re ready to build. At Stillwater Design Build, part of our service involves guiding clients through the permitting maze, ensuring all local requirements are met efficiently.
Timeline for Building on Vancouver Island
Building a home in Greater Victoria typically starts with land acquisition, which can take anywhere from a few weeks to a few months depending on your financing and due diligence. After securing permits—often a multi-step process lasting a few months—construction itself can run anywhere from 6 to 18 months, depending on the complexity of your design. Weather patterns also factor into the timeline; while the climate is relatively mild, heavy winter rains or particularly stormy seasons can cause delays. Planning a realistic schedule (and some buffer time) helps keep stress levels down during your build.
Sustainable Building Practices in Greater Victoria
With its pristine environment, Greater Victoria is a hub for green building initiatives. Many municipalities encourage or incentivize sustainable practices like rainwater harvesting, solar panel installation, and energy-efficient design.
Homeowners often opt for materials that are eco-friendly and suitable for Vancouver Island’s damp climate, such as sustainably sourced timber and advanced insulation systems. By incorporating sustainability into your build, you not only reduce your carbon footprint but also potentially increase your home’s long-term value and appeal.
Common Pitfalls to Avoid When Buying Land
- Underestimating Utility Costs: Even if a lot seems reasonably priced, hooking up to municipal water, sewer, and electricity can significantly increase your total investment—especially in rural areas.
- Overlooking Geological Concerns: Soil composition, flooding risks, or steep slopes can complicate construction and drive up costs for excavation or specialized engineering solutions.
- Ignoring Easements and Covenants: Restrictions on how you can use or develop the land may limit your building envelope or landscaping plans.
- Skipping Proper Due Diligence: Missing out on professional inspections or surveys can lead to expensive surprises like unstable soil or hidden property lines.
- Not Accounting for Long-Term Maintenance: Large rural lots might require private road upkeep, well maintenance, or septic servicing, all of which add to your ongoing costs.
By being aware of these potential pitfalls, you can approach your land purchase with greater confidence and avoid costly surprises down the road.
Maximizing Your Return on Investment
If you view your custom home as both a personal sanctuary and a long-term investment, strategic decisions can boost resale value. Opt for timeless, high-quality materials and consider flexible floor plans that adapt to different lifestyles—this broadens your appeal to future buyers. Selecting lots with unique features—like waterfront access, sweeping views, or proximity to popular amenities—also enhances property value. Even if you don’t plan on selling anytime soon, making ROI-conscious choices can offer peace of mind and potentially higher returns down the road.
Average Cost of Land in Greater Victoria
When it comes to raw land in Greater Victoria, prices can vary dramatically based on location, zoning, views, and development potential. However, to give a rough idea, land in more urban areas (like Victoria’s core) often ranges from CAD $75 to $200 per square foot, while outlying areas or municipalities farther from downtown can start around CAD $30 to $60 per square foot and climb higher depending on desirability and waterfront access.
- Urban Core (Victoria, Oak Bay, parts of Saanich): Expect the upper end of the spectrum, with some premium parcels surpassing $200 per square foot, especially if they offer coveted oceanfront or water views.
- Suburban and Semi-Rural Areas (Langford, Colwood, Esquimalt, Central Saanich): Generally fall within the mid-range, where land can hover between $60 and $120 per square foot, although view lots or waterfront can push beyond these figures.
- Rural and Outlying Regions (Metchosin, Sooke, Highlands, Malahat): Often begin around $30–$50 per square foot but can climb if the parcel includes sweeping views or significant acreage.
Keep in mind, these numbers are ballpark estimates and can shift due to changing market conditions, local regulations, and property-specific attributes.
Factors Influencing Land Cost in Greater Victoria
Before we zoom in on particular neighbourhoods, it’s important to understand the overarching factors that influence land prices throughout the region.
- Location and Neighbourhood Desirability
Areas closer to downtown, with ocean views, or near popular amenities, command higher prices. Heritage districts and luxury enclaves typically see a significant premium for land. - Lot Size and Topography
Larger lots are appealing for custom builds and future expansions, but they come at a higher cost. Hillside properties can offer stunning vistas but may require additional engineering and site prep. - Zoning and Municipal Regulations
Zoning dictates what can be built on a property, affecting both initial cost and future value. Some municipalities have more stringent building guidelines, which can increase development expenses. - Services and Utilities
Fully serviced lots (municipal water, sewer, electricity) are typically more expensive upfront. Rural lots with fewer services may be cheaper initially but need a bigger investment in wells, septic systems, and power infrastructure. - Market Conditions
The Greater Victoria market can fluctuate based on supply and demand, macroeconomic factors, and development trends. In hot markets, competition for prime lots can escalate prices quickly.
As part of our integrated design-build approach at Stillwater, we help clients navigate these complexities early on, ensuring that every factor—from site selection to municipal regulations—is thoroughly addressed.
Greater Victoria Land Cost by Area
Below, we’ve outlined some of the most popular areas in Greater Victoria, each with its own unique charm, property types, and approximate average prices per square foot. Please note that these figures can vary widely and may change over time.
Victoria
Victoria, BC’s capital city, offers an appealing blend of historic charm and modern amenities. Land here often commands a premium due to limited availability, and you can expect prices on the higher side—especially in neighbourhoods near the Inner Harbour. Smaller parcels may still come with hefty price tags, thanks to the city’s desirability. Heritage homes and proximity to cultural hotspots further drive up land values.
Average Price Range: $120–$200+ per square foot, depending on lot size and location.
North Saanich
North Saanich is famed for its lush, rural atmosphere and close proximity to the ocean. Larger estate lots dominate the market, and these expansive parcels typically have higher per-square-foot costs due to their coveted privacy and potential for ocean views. Many properties boast farmland outlooks or direct water access, making this area particularly popular among those seeking an upscale, rural lifestyle close to Victoria.
Average Price Range: $100–$180 per square foot, with premium waterfront parcels potentially higher.
Sidney
Known as “Sidney by the Sea,” this town offers a laid-back coastal lifestyle and charming local shops. Land costs range from moderately priced parcels near the town core to higher-priced waterfront or waterview lots. Demand in Sidney has been climbing, thanks to its friendly community vibe and convenient location near the airport and ferry terminal.
Average Price Range: $90–$160 per square foot, with oceanfront commanding top dollar.
Central Saanich
Central Saanich is a welcoming municipality that blends farmland, vineyards, and residential neighbourhoods. Land prices vary based on proximity to main roads and local services. Acreage properties with picturesque views of the Saanich Inlet or rolling hills command higher values. Buyers often appreciate the rural feel that’s still only a short drive from downtown Victoria.
Average Price Range: $70–$130 per square foot, especially for residential lots near services.
Saanich
Saanich is one of the largest municipalities on Vancouver Island, offering a diverse range of communities—from student-friendly neighbourhoods near UVic to more upscale enclaves. Land costs also vary widely, generally hovering in the mid-to-high range. Proximity to parks, schools, and shopping centers often influences property values, making Saanich a popular choice for families seeking suburban living without sacrificing convenience.
Average Price Range: $80–$180 per square foot, with premium lots near water or UVic leaning higher.
Oak Bay
Oak Bay is synonymous with prestige, heritage properties, and picturesque waterfronts. As a result, land can be quite expensive. Buyers are often drawn to the character homes, tree-lined streets, and sense of community. Waterfront parcels here are especially dear, reflecting the neighbourhood’s reputation as one of Victoria’s prime luxury markets.
Average Price Range: $150–$300+ per square foot, highest for waterfront properties.
Vic West
Vic West is a fast-evolving neighbourhood located just across the bridge from downtown Victoria. While some areas remain relatively affordable compared to the city center, certain pockets—particularly those near the water—are seeing rising land prices. Its close proximity to downtown and ongoing revitalization projects have boosted Vic West’s profile, attracting both young professionals and families alike.
Average Price Range: $100–$180 per square foot, reflecting its growing popularity.
Uplands
Uplands is an exclusive enclave within Oak Bay, famed for sprawling estates, manicured gardens, and sweeping ocean views. The land here ranks among the most expensive in the region. Properties are generally large, and architectural styles range from historic mansions to sleek modern builds. Those seeking unparalleled privacy and luxury will likely find Uplands to be the pinnacle of real estate in Greater Victoria.
Average Price Range: $200–$400+ per square foot, placing it at the very top of the local market.
Esquimalt
Located just west of downtown, Esquimalt is known for its naval base and a mix of residential and commercial zones. Land prices are relatively more affordable compared to Oak Bay or downtown Victoria. However, the waterfront parcels along the Gorge Waterway can fetch a premium thanks to their scenic views. The municipality has been investing in community and infrastructure projects, making Esquimalt increasingly attractive for families and developers.
Average Price Range: $80–$140 per square foot, with waterfront lots trending higher.
View Royal
Nestled between Victoria and the western communities, View Royal offers a central location ideal for commuters. Land costs typically range from mid to high, influenced by proximity to services such as Eagle Creek Village and waterfront spots along the Gorge. Green spaces are abundant, which is a major draw for families seeking a balance of convenience and nature.
Average Price Range: $90–$150 per square foot, depending on neighbourhood and lot features.
Colwood
Situated on the southern tip of Vancouver Island, Colwood combines suburban living with plenty of natural beauty. Land in Colwood can be comparatively affordable, although prices have been climbing steadily in recent years. The area’s growing population and new amenities, including schools and shopping centers, make it an appealing choice for those wanting a suburban lifestyle close to beaches and parks.
Average Price Range: $60–$120 per square foot, with view lots or waterfront parcels commanding a premium.
Highlands
The Highlands is a rural municipality that prides itself on preserving its rugged landscapes and forested trails. Though land can appear affordable by the acre, developing these lots can be more costly due to topographical and infrastructure challenges. The payoff is a serene, nature-focused setting with ample privacy—ideal for those who dream of living amid Vancouver Island’s natural splendor.
Average Price Range: $50–$90 per square foot, though final costs can rise due to development expenses.
Langford
Langford is one of BC’s fastest-growing cities, attracting families and first-time buyers with a variety of housing options and reasonable land costs. Prices do vary, but compared to Victoria’s core, Langford often offers attractive value, especially for new subdivisions. The municipality has invested heavily in its infrastructure, offering plenty of amenities from big-box stores to sports facilities, making it increasingly popular.
Average Price Range: $70–$130 per square foot, depending on proximity to new developments and commercial hubs.
Metchosin
Metchosin is known for its pastoral charm, farmland, and dedication to preserving a rural character. Land parcels here are often sizable, which can drive up total costs. However, on a per-square-foot basis, it may still be more approachable than prime city locations. Residents enjoy a quiet lifestyle surrounded by nature, only a 30-minute drive from Victoria.
Average Price Range: $60–$100 per square foot, with larger acreage lots sometimes lower on a per-square-foot basis.
Sooke
Sooke is a coastal community celebrated for its outdoor recreation opportunities, from hiking to fishing. Land here has historically been more affordable, but it’s becoming more competitive as people discover its small-town allure. Waterfront and ocean-view properties garner higher prices, though they remain less than what you’d find in core urban areas. Sooke is a solid choice for those willing to trade a longer commute for a peaceful seaside setting.
Average Price Range: $40–$90 per square foot, depending on water views and accessibility.
East Sooke
East Sooke offers a more secluded environment than central Sooke, with larger parcels often nestled in rugged, forested terrain. While per-square-foot prices can be lower, development expenses can add up, particularly if roads or utilities need extending. For buyers who value privacy and a deep connection with nature, East Sooke is a hidden gem worth exploring.
Average Price Range: $30–$70 per square foot, reflecting rural conditions and possible extra development costs.
Malahat
Situated north of Langford along the Trans-Canada Highway, the Malahat area is known for its winding roads and jaw-dropping viewpoints. Land may start at a lower price point, but steep or forested properties can increase development costs. Some parcels boast breathtaking vistas of the Saanich Inlet, adding a premium for those scenic panoramas.
Average Price Range: $30–$70 per square foot, depending on slope and view potential.
Shawnigan Lake
A popular vacation spot turned year-round community, Shawnigan Lake offers a serene lakeside lifestyle. Property prices range from moderate to higher-end, especially for waterfront and lake-view parcels. Local schools, outdoor recreation (like boating and hiking), and a welcoming community make Shawnigan Lake attractive to families.
Average Price Range: $40–$80 per square foot, with premium rates for lakefront lots.
Mill Bay
Mill Bay sits just north of Shawnigan Lake and features a marina, shopping amenities, and scenic waterfront properties. Land costs here tend to be slightly more affordable than in Victoria’s core, but demand is growing. Waterfront parcels with unobstructed views of the Saanich Inlet are typically at the higher end. With ongoing residential development, Mill Bay is becoming an increasingly sought-after community.
Average Price Range: $40–$85 per square foot, especially higher for prime waterfront locations.
Jordan River
Tucked away on the west coast of Vancouver Island, Jordan River is beloved by surfers and outdoor enthusiasts. Land can be relatively inexpensive by Greater Victoria standards, but remote parcels may come with development hurdles, including limited utilities and road access. For those seeking a true west-coast experience—away from crowds and closer to wild, natural beauty—Jordan River holds plenty of appeal.
Average Price Range: $20–$60 per square foot, depending on proximity to the coast and infrastructure needs.
Port Renfrew
Dubbed the “Tall Tree Capital of Canada,” Port Renfrew is surrounded by old-growth forests and dramatic oceanfront. Land prices remain on the lower side compared to Victoria proper, although new developments focused on eco-tourism and recreation have been pushing values upward. Its remote location means you’ll have to consider the costs of transporting materials and establishing services. Still, for lovers of hiking, fishing, and untamed landscapes, it’s a dream destination.
Average Price Range: $20–$50 per square foot, influenced by remoteness and any water views.
Southern Gulf Islands
The Southern Gulf Islands—Salt Spring, Galiano, Pender, Mayne, and Saturna—are acclaimed for their artistic communities, organic farms, and relaxed vibe. Land costs can range from moderate to very high, especially for waterfront parcels with private docks or panoramic views. Infrastructure varies widely from island to island, so it’s essential to research zoning, water sources, and power availability. Despite the extra logistics, many find island living a worthwhile investment for the unique lifestyle.
Average Price Range: $50–$150 per square foot, often higher for prime waterfront or view lots.
Working with Stillwater Design Build: Our Process & Philosophy
Wherever you decide to buy land, having a clear plan for development is crucial. At Stillwater, we’ve crafted an integrated design-build process that guides you through every stage with clarity and efficiency:
- Initial Consultation and Budgeting
We begin by understanding your vision, discussing your budget, and outlining the scope of your project. Our open-book approach ensures transparency in costs, so you’re never surprised by hidden fees. - Site Assessment
Once you’ve found a promising property, we conduct a thorough assessment to evaluate factors like slope, soil quality, and access to utilities. This helps us tailor your design and budget to the lot’s unique characteristics. - Design Phase
We partner with local architects and designers to collaborate closely with you to create a blueprint that aligns with your aesthetic, functional needs, and the site’s natural attributes. We focus on maximizing both lifestyle benefits and resale potential. - Construction and Project Management
We streamline the building process by managing everything from permits to specialized trades. Our goal is to deliver exceptional quality on time and within budget, keeping you informed throughout. - Ongoing Communication
Transparency is at the heart of our philosophy. During construction, we provide regular progress reports and remain accessible for any questions. This open dialogue fosters trust and ensures your vision is accurately realized.
By choosing Stillwater, you’re partnering with a team that understands the complexities of building on Vancouver Island—whether in bustling urban neighbourhoods or along the rugged coastline.
Conclusion
Greater Victoria presents a spectacular array of real estate opportunities, spanning from the prestigious enclaves of Oak Bay and Uplands to the wild coastlines of Jordan River and Port Renfrew. Understanding the key factors—like zoning, utilities, neighbourhood desirability, and market trends—will help you make an informed purchase. Equally important is aligning yourself with experts who can guide you through financing, permits, and design considerations.
At Stillwater, we’re committed to helping clients navigate the entire process, from the initial search for land to the final touches on a custom-built home. If you’re considering buying land and building in Greater Victoria, feel free to reach out for personalized guidance. We’d be thrilled to help you turn your property vision into a reality, ensuring your new home meets both your lifestyle needs and investment goals.
Ready to get started? Contact our team for a consultation - your piece of Vancouver Island paradise awaits!
.png?width=50&height=50&name=Stillwater_LogoOnly%20(Black).png)
