Surrey is proving to be a community that appeals to a wide range of people from all over the Lower Mainland.
With low vacancy numbers, high rental rates, and significant investment from leading educational institutions and tech companies, those in the know have been looking for a chance to get in on Surrey’s booming real estate market.
Despite interest rate rises, and contrary to media reports about the health of the market in Metro Vancouver, Surrey’s newest project, Lucent by Landa Global Properties, has shown strong demand in all their home types. Over 160 homes were sold in the building’s first week, showing the area’s popularity.
Located in Surrey, on 135A Street & 106 Avenue, this 26-storey building is set to become a new landmark tower in the rapidly evolving downtown area.
“Buyers at Lucent are coming from different parts of the Lower Mainland with one thing in common: they are confident in the future of Surrey,” says KEY Marketing President, Cam Good. “The long-term value of Surrey is hugely attractive to a younger demographic of first-time real estate buyers and investors. They believe the market will go up. The demand from the population doubling, as well all the changes coming to this neighbourhood means these homes will be worth much more when the project completes in four years.”
Increasingly, buyers are recognizing that Surrey presales are an opportunity to realize price escalation and long-term wealth generation. And, with Landa Global Properties’ long track record of successful residential development, Lucent is going fast — with 126 homes sold in 16 hours of launch.
Whether you’re looking for your next investment property or first home, here are the main categories of buyers flocking to Lucent during its presale.
People who embrace the latest technology
Dubbed the “Tesla of buildings” by Landa Global CEO, Kevin Cheung, Lucent is not only set in a prime location, but is attracting buyers who value high-tech, smart home living.
The state-of-the-art app, 1VALET, gives homeowners easy control over amenity bookings, deliveries, and building access. It also offers keyless entry — enabled by facial recognition and digital keys for the front entrance and easy guest access.
The interiors of the homes also include smart thermostats, along with smart-home technology integration through a central panel which lets you control everything from heat and light to music. Residents also get access to 23,800 square feet of its indoor and outdoor amenities.
Lucent’s Fitness Zone has smart features with the latest in fitness tech, and you’ll be able to book your sessions through their app. You’ll have access to their club-style gym, top-of-the-line fitness equipment, a spin studio featuring Peloton bikes, and a private workout studio with Lululemon’s Mirror.
Millennials looking for their first home
If you’ve grown increasingly frustrated with Vancouver’s rental market and you’re looking to get an affordable option close to home, Lucent may be the perfect place to put down roots.
With one-bedroom homes starting at just $441,900, this up-and-coming location has a larger supply of apartments and homes than other areas in Metro Vancouver.
Hassani Ali is a hardworking 22-year-old veteran who just purchased a home at Lucent. He was able to take his $70,000 in savings to buy a junior two-bedroom.
“I have worked three jobs for the past four years and have finally saved enough money to buy real estate,” Hassan tells Daily Hive. “I can finally give my mom a home and build my future with Lucent.”
Students who want to live in up-and-coming areas
Lucent offers a ton of benefits to students. Whether you’re starting a new semester at Simon Fraser University (SFU) or deep into your undergrad at the University of British Columbia (UBC), you may be looking for a less expensive place outside of the city.
With its recent expansion into Surrey, UBC will be attracting thousands more students to its new campus in the coming years. According to UBC Today, the new 135,000-square-foot campus will expand the university’s presence, as well as provide an exciting opportunity to improve access to post-secondary education in the Fraser region.
In addition, SFU medical students will also be seeking housing near the new medical building, which opens its doors in 2026.
With more than 25% of Surrey’s population under the age of 20, if you’re looking to hang out with the cool kids, this is the place.
Young, regional investors seeking generational wealth
Landa Global Properties‘ Lucent is an ideal option for those seeking a property that will give them a promising return on their investment.
Surrey has one of the lowest vacancy rates across Metro Vancouver at 0.6% — with an average rental rate of $1,662.50 per month for a one-bedroom apartment. The area also boasts one of the highest property appreciation rates in the Lower Mainland, at an estimated 34% five-year price appreciation.
Looking for the best investment, Bianca G from Burnaby recently purchased a home at Lucent because of Surrey’s fast growth and low vacancy rates.
Like most millennials, her dreams of owning a home in Vancouver have become increasingly remote. Because of the demand in the area, she hasn’t decided yet whether she’s going to live in Lucent or capitalize on the SFU and UBC expansions to rent out her investment, grow her savings and achieve her dream.
“Lucent is my key to making money for my future family, a dream most millennials feel is out of reach,” Bianca tells Daily Hive. “I am beyond proud to say that that dream has become reality.”
Lucent is now open for previews and is set to be move-in ready by 2026. With studio, one-, two-, and three-bedroom options available in Surrey City Centre, booking a presale appointment is as smart as this building is going to be.