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Urbanized, Real Estate, Business, News

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

Urbanized, Real Estate, Business, News

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 23,054

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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