Surrey named B.C.'s top real estate investment city

The Real Estate Investment Network claims the city is poised to outperform the rest of the province and is only at the beginning of its real estate boom

Surrey has once again been named the top investment town in B.C. by the Real Estate Investment Network, according to a new report.

The Fraser Valley city ranks above New West, the Tri-Cities and even Vancouver as the city with the best real estate profit potential. REIN believes the fastest-growing city in the province is at the beginning of its real estate boom, providing investors with an excellent opportunity to purchase and flip homes.

Surrey beat out nine other cities thanks to its proximity to transit and an increase in population, jobs and household incomes.

“The main conclusion for strategic investors from these key drivers is that 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,” the report states.

Surrey recently came in at number two on Western Investor’s top five list of Western Canadian investment destinations. Our list also highlighted the city’s sizable adolescent and millennial population – one in four Metro Vancouverites under the age of 19 live in Surrey. Western Investor suggests investing in multi-family rental apartments, due to their relatively cheap per-suite value that can be extremely profitable as rental demand in the city increases along with population growth.

REIN determines a city’s market status according to a boom-slump-recovery real estate clock. Cities poised at the beginning of the boom cycle present plausible to optimal investment opportunity, as evidenced by the graphs below.