Why Surrey is BC’s BEST Real Estate Investment Town. For two years in a row, The Real Estate Investment Network of Canada rated Surrey BC the best real estate investment city in Canada for residential real estate. The REIN group also rated Surrey the 4th best overall city in Canada for real estate investment.
The study was based on:
- Average household income
- Transportation capacity
- Job outlook
- And other factors
Surrey has been growing steadily over the past decade and some predict it may eventually overtake Vancouver as BC’s largest city. Its population has grown by 100,000 in the past decade. The city is rebounding from the worldwide financial setbacks of 2008, showing substantial growth in the residential market. Over 3,500 new residential units were added in the last year.
- The city is a thoroughfare for 5 major highways in Canada, and boasts two highway connections to the United States. Surrey has a deep harbour, which will become important as trade increases with Pacific Rim countries. Median family income continues to grow in this expanding community.
Residential Real Estate – Know What You Want
- There are plenty of real estate opportunities in Surrey. For those looking to own their own home, there are 3 communities with an 80% or better ownership rate, and 2 more with more than 70% ownership rates. The median age of dwellings is 20 years.
- If you are looking to purchase rental property, the communities of Whalley and the City Centre have the largest percentage of rental properties in the city, both exceeding 30%. But purchasing rental property is not limited to these communities, as all have rental property available for investment.
Commercial Real Estate – Look at the Demographics and Study the Communities
- Surrey BC best real estate investment opportunities come down to doing your homework, knowing the type of commercial real estate you desire and studying the demographics. For example, the City Centre provides unlimited opportunities for retail and office construction. Easily accessible from all communities, supported by first rate public transportation, as well as modern, urban housing, the City Centre is quickly becoming the commercial and social hub of the City.
- The new Civic Centre, under construction, will be the new social meeting place for Surrey. With indoor seating capacity of 1,600 and an outdoor plaza to accommodate 5,000, the Civic Centre will draw people from all areas. A spacious new 77,000 sq. ft. library and a newly constructed City Hall will provide Surrey with one of the most dynamic City Centre in Canada.
- Find a Professional Who Knows the City If you are investing from another city or province, find a real estate professional in Surrey. After discussing your investment plans with a real estate professional that works and lives in Surrey, you will be given the information needed to make an informed, prudent business investment choice.
Contact Robbie Johal of Re/Max Lifestyles a lifetime Surrey, BC Resident and Award Winning Realtor when Buying or Selling your Next Home.