There are quite a few good bets in BC for long-term real estate investment. We really like New Westminster, Chilliwack, Maple Ridge, and Abbotsford, but our top pick is Surrey!
Why is Surrey the # 1 spot for long term real estate investment?
Here are the top 7 reasons;
1. Surrey is the second largest City in BC. With a population of over 520,000, Surrey is nearly as large as Vancouver, and will eclipse Vancouver in terms of population by the year 2040, if not sooner.
2. Surrey is the fastest growing City in BC. Stats usually tend to show that Surrey’s annual growth is around double the Provincial and Canada-wide average. Surrey adds about 1000 new bodies per month to it’s total.
3. Surrey is strategically situated for business. It’s near the US border, the Fraser River, The Trans-Canada Highway, and the Ports of Vancouver and Delta.
4. Surrey is business friendly. It is known for its business friendly policies and Municipal Government, unlike big Brother Vancouver who is renowned for being anything BUT business friendly.
5. Surrey is reasonably affordable. Not cheap, but still much cheaper to live and do business than Vancouver, Burnaby, Richmond, etc.
6. Surrey has a diversified economy. Surrey’s economy is made up of healthcare, real estate, insurance, education, agriculture, technology, energy, and many other sectors. This helps to balance things out when one industry takes a dip.
7. Surrey has a super young population. The median age is around 39, and one third of the population is under 19.
So there you have it, 7 reasons why Surrey is poised to be the # 1 spot for real estate investment in BC for a long time to come.
Looking for assistance buying or selling a property in Surrey? We can help! Looking for help renting out your Surrey rental property or managing your Surrey strata property?
We offer full property and strata management services in Surrey and throughout the Fraser Valley. Reach out to our Real Estate and Property Management company here for more information.