Sony has finally revealed when its next-gen virtual reality headset will arrive and how much it will cost — the price is far higher than many people will have been expecting. Playstation VR2 will be available on February 22nd (exactly a year after Sony revealed the design of the device) and it will cost an astonishing $550. That’s more than the price of a PlayStation 5, the base hardware you’ll need to use the headset, even after Sony jacked up the cost of the console in many countries. Folks in Europe will have to pay €600 for PS VR2 and those in the UK will need to shell out £530. In Japan, the price will be ¥74,980. 

PS VR2 comes with Sense controllers and stereo headphones. A bundle with Horizon Call of the Mountain will run you $600. Meanwhile, a charging station for the controllers costs an extra $50.

For those with deep enough pockets, pre-orders will be available on November 15th. At the outset, folks in the US, UK, France, Germany, Belgium, the Netherlands and Luxembourg will only be able to pre-order from PlayStation directly. Those in other countries will be able to lock in a pre-order from various retailers.

Sony’s latest VR hardware has a display resolution of 2000 x 2040 pixels for each eye, 4K HDR support, a 110-degree field of view and refresh rates of up to 120Hz. It will support 3D audio and eye tracking, while the Sense controllers borrow haptic feedback and adaptive triggers from the DualSense.

The PS VR2 price is just the latest example of sticker shock from PlayStation. When it arrives in January, the premium DualSense Edge controller for PS5 will cost $200 (which, in fairness, is in a similar range as other high-end controllers).

Meanwhile, Sony has announced 11 more titles that are coming to PS VR2. Among them are a new game in Supermassive’s The Dark Pictures horror series, entitled Switchback VR, and a fresh entry in Smilegate’s popular first-person shooter franchise Crossfire. Also in the pipeline are a VR version of Cities: Skylines, a new Hello Neighbor game, Jurassic World Aftermath Collection and Pistol Whip VR.

It was previously confirmed that the likes of No Man’s Sky, Among US VR, Ghostbusters: Rise of the Ghost Lord, Star Wars: Tales From The Galaxy’s Edge and Resident Evil Village will also be available on PS VR2. Sony says there will be more than 20 games available at launch.

However, PS VR games are not compatible with the latest headset. For technical reasons, developers will need to update their games to make them work on the new platform. That means that not only is the PS VR2 headset itself expensive, you may need to shell out more to have any games to play on it.