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Real Estate, Urbanized, News, Business

Surrey ranked best place to invest in real estate in British Columbia

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DH Vancouver Staff Nov 07, 2017 5:45 pm 23,551

Surrey has been ranked the best place to invest in real estate in British Columbia, in a new report from the Real Estate Investment Network (REIN).

REIN looked at economic and demographic fundamentals of 20 cities and towns across BC, to create a list of the top 10 best locations for real estate investment in the province.

According to the report, these factors were combined with additional “on-the-street” research to uncover local influences that may affect the long-term future of the market.

Surrey was ranked top of the list, followed by Abbotsford, New Westminster, Victoria, Kamloops, Kelowna, Chilliwack, the Tri-Cities, and Burnaby.

Vancouver came in 10th place.

“Surrey is a unique combination of a youthful, growing city with a diverse economy that is
relatively affordable compared to the rest of the Metro Vancouver region,” reads the report.

Researchers considered Surrey’s real estate market to be entering the beginning of a boom period, and advises investors to “fix and flip” property.

By comparison, researchers consider Vancouver’s real estate market to be nearing the end of a boom and approaching a slump.

Researchers advise investors to avoid buying to hold or renting to own, and note that taking a “fix and flip” approach might be “tricky.”

Top 10 best places to invest in real estate in BC

Source: Real Estate Investment Network (REIN)

  1. Surrey
  2. Abbotsford
  3. New Westminster
  4. Victoria
  5. Kamloops
  6. Kelowna
  7. Chilliwack
  8. The Tri-Cities (Coquitlam, Port Coquitlam, and Port Moody)
  9. Burnaby
  10. Vancouver
See also

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DH Vancouver Staff
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