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
- New Westminster
- The Tri-Cities (Coquitlam, Port Coquitlam, and Port Moody)