Oak Bay Village Condos for Sale
Condos around the village are a smaller market than houses, but their location keeps them in steady demand. The older stock is mostly 1960s and 1970s buildings on and near Oak Bay Avenue, on Windsor Road and on Beach Drive, followed by a few late-1980s and 1990s buildings on Yale Street and the Avenue. Newer suites appear in mixed-use buildings on the Avenue, with shops at street level and homes above.
Oak Bay's 1967 General Plan proposed apartment areas around the village, a history that helps explain why so many condo buildings near the Avenue date from that era.
Where the Condos Are
The closest buildings sit right on Oak Bay Avenue, a few steps from groceries, cafés and the Municipal Hall. A little further, Yale Street and the side streets near the Avenue hold low-rise buildings, while Windsor Road and Beach Drive, toward Windsor Park and the waterfront, have buildings with a quieter setting closer to the water.
The 2025 Official Community Plan supports low-rise to mid-rise buildings in the village, up to four storeys or up to six where a project provides amenities or affordable housing, with shops at street level and homes above. New condo supply is therefore most likely on the Avenue itself.
Building Age and What to Check
| Building type | What you usually find | Questions to ask |
|---|
| 1960s and 1970s | Low-rise and mid-rise buildings, often with original plumbing, elevators or windows nearing replacement | What does the depreciation report say is due, and how big is the contingency reserve? |
| Late 1980s and 1990s | Buildings from the era when many coastal BC condos needed building-envelope repairs | Has the envelope been repaired or rainscreened, and was it paid for by a special levy? |
| New mixed-use buildings | Modern suites above shops, often with in-suite laundry and secure parking | How much of the BC home warranty is left: 2 years on materials and labour, 5 on the envelope, 10 on the structure? |
Strata Rules That Matter Here
Since November 2022, strata bylaws in BC can no longer prohibit or cap long-term rentals, and the only age restriction a strata can keep is 55 and over, so a building with a 55-plus bylaw can still keep it. Pet bylaws are still allowed; a strata that has never changed the standard bylaws allows one dog or one cat per suite, but many buildings write their own rules. Read the bylaws, rules and recent minutes for any building you are considering.
Downsizing to Oak Bay Village
Many buyers here already live in Oak Bay and want to stay in the community after selling a larger house. The things that matter most in that move are an elevator, storage, guest parking, pet bylaws for a dog or cat coming along, and a building with a healthy reserve fund so there are no surprise levies later. Suites with a larger floor plan, a good balcony or a view toward the water are usually the most sought after.
If you are selling an Oak Bay house to buy near the village, timing matters. Some buyers purchase first with bridge financing, others sell first and rent for a short time. Talk to your lender early, and compare strata fees and any levies with the house costs you will no longer carry, such as the roof, exterior painting, the garden and general repairs.
Living in a Village Condo
The appeal is daily life on foot: groceries, cafés and restaurants on the Avenue, the Monterey Recreation Centre and the Oak Bay library branch on Monterey Avenue, Windsor Park a few blocks south and the Oak Bay Marina and Beach Drive a little further. The plan calls for wider sidewalks, benches, plazas and street trees along the Avenue, which should make the walk to the shops better over time.
The trade-off is activity on the Avenue itself. Suites facing the street hear traffic and deliveries, while suites at the back or on Windsor Road and Beach Drive are usually quieter. Ask about orientation, parking, storage and bike rooms before you write an offer.
Choosing a Building Near the Village
In many older buildings a shared boiler heats the whole building, so the strata fee covers heat and hot water and looks high next to a newer building where each suite pays its own electricity. Compare total monthly costs rather than the fee alone, and check whether parking is assigned, whether there is a storage locker, whether the building has an elevator and how many of the suites are owner-occupied.
Renting Out a Village Condo
Because strata bylaws can no longer ban long-term rentals, most buildings near the village are open to owners who want to rent, though the building's other bylaws still apply to tenants. Landlords work under the Residential Tenancy Act, and the province caps annual rent increases for existing tenants. Short-term rentals are limited to the host's principal residence under the province's rules, and many stratas ban them outright, so a village condo is a long-term rental or a home, not a vacation rental.
Views, Light and Outlook
Upper-floor suites in the mid-rise buildings toward Beach Drive and Windsor Road can look toward the water, while suites on the Avenue look over the shops and street trees. When comparing suites, check which way the windows face, what sits next door, and what the 2025 plan allows on neighbouring lots, since village sites can see new buildings of four to six storeys.
New Condos Near the Village
New suites near the village usually come as presales in mid-size mixed-use buildings on the Avenue. New homes carry GST and come with the provincial home warranty, and some buyers qualify for GST rebates, so confirm the tax position with your lawyer or notary before signing a presale contract.
Condo Prices Near the Village
Older one-bedroom suites in 1960s and 1970s buildings are usually the most affordable way to live a few minutes from the Avenue, larger two-bedroom suites and water-view units sit higher, and new suites above the shops sit at the top. The live statistics above and the Oak Bay Village market report show current asking prices and recent sales.
How Village Condos Compare
To widen the search, see Oak Bay condos for sale across the municipality. For other walkable villages, compare Cook Street Village condos in Fairfield and Quadra Village condos north of downtown. For houses near the Avenue, see Oak Bay Village houses, and for the general buying process, the buyer's guide.
