2026 BC Multiplex Market Report

The BC multiplex market continues to evolve rapidly as municipalities adopt new zoning frameworks that enable multi-unit housing on traditionally single-family lots. This report provides a comprehensive overview of current trends, pricing, and forecasts.

Market Overview

The multiplex sector in British Columbia has seen remarkable growth since the implementation of provincial housing legislation in late 2023. Key indicators show:

• 42% increase in multiplex building permits year-over-year
• Average price per unit: $685,000 in Metro Vancouver
• Absorption rate: 78% of pre-sale units sold within 90 days
• Construction starts: 2,400 multiplex units in 2025 (projected 3,100 in 2026)

Key Trends

1. Transit-Oriented Development

Demand is strongest within 800m of SkyTrain stations and major transit hubs. Units near the Millennium and Evergreen Lines command a 15-20% premium.

2. Price Positioning

Multiplex units occupy a sweet spot in the market:

Housing Type	Avg. Price (Metro Van)	Price/sqft
Detached Home	$1,850,000	$985
Multiplex Unit	$685,000	$780
Townhome	$925,000	$720
Condo	$580,000	$850

3. Construction Volume

Builder confidence is high, with notable activity in:

• Vancouver: 850+ units in development
• Burnaby: 420+ units in development
• Surrey: 680+ units in development
• North Vancouver: 180+ units in development

4. Buyer Demographics

The typical multiplex buyer is evolving:

• 35% first-time buyers (up from 22% in 2024)
• 28% downsizers from detached homes
• 22% investors seeking rental income
• 15% upsizers from condos

Regional Breakdown

Vancouver

The city’s zoning reforms have enabled up to 6 units on most residential lots. The most active neighbourhoods include Hastings-Sunrise, Renfrew-Collingwood, and Marpole. Average prices range from $620,000 to $850,000 depending on unit size and location.

Burnaby

Strong demand driven by proximity to Metrotown and Brentwood SkyTrain stations. Developers are particularly active near the new Lougheed Town Centre redevelopment area.

Surrey

The largest volume of multiplex development, driven by more affordable land costs and the expansion of SkyTrain along the Fraser Highway. Prices average 15-20% below equivalent Vancouver units.

Port Moody & North Vancouver

Boutique multiplex projects are finding success in these communities, often featuring premium sustainable design elements and commanding higher per-square-foot prices.

Forecast for 2026-2027

Our research team projects continued strong growth in the multiplex sector:

1. Pricing: Moderate appreciation of 4-6% annually
2. Supply: Significant increase in new supply as projects move through the pipeline
3. Demand: Sustained demand driven by affordability advantage and policy support
4. Rental market: Strong rental yields of 3.5-4.5% for investor-owned units

The multiplex market in BC is not just a trend — it represents a fundamental shift in how we build and live in our communities. We expect this sector to become a permanent and growing part of the housing landscape.

Methodology

This report is based on data from BC Assessment, CMHC Housing Starts data, MLS sales records, and MultiLiving’s proprietary database of multiplex developments across British Columbia. All data is current as of Q1 2026.