What it costs to build a house
Excluding land values and so-called “soft costs”, the construction cost to build a single-family detached house in Greater Toronto ranges from $105 per square foot to $200 per square foot. In Metro Vancouver, it costs from $125 per square foot to $215 per square to construct a similar house, according to the 2017 Canadian Cost Guide from Altus Group.
Residential land values in either city, however, would add from $100 to $250 per square foot to that price, depending on the location, based on real estate industry estimates.
Altus also looked at the hard construction costs to build a concrete condominium building. Based on calculations for a 13 storey to 39 storey condo tower, Altus calculates that it would cost an average of $260 per square foot in Greater Toronto and $282.50 per square foot in Metro Vancouver
As well as excluding land costs, the Altus Group study also does not factor in builder soft costs, such as architectural and engineering fees, legal fees, interest charges, municipal fees or any marketing costs or sales commissions.