South of the Fraser

Surrey, Delta, White Rock and Langleys

Surrey number 1 pick for real estate investing

A small flurry of tweets followed the Surrey Now's publishing "Surrey best place to invest in west: report". The three-paragraph article is based on the Western Investor's "Top 10 towns", subtitled "Western Investor's first annual pick of the top 10 towns for western Canadian real estate investors". You have to be a subscriber to read the original article.

In brief, the original article points out new infrastructure being built like the new library, the new city hall (still a hole in the ground), the Surrey Memorial Hospital expansion and the new RCMP building, as well as private investment like Ivanhoe Cambridge's pumping in $220 million into Guildford.

Here's where the potential for investors comes in:

"Surrey attracts 1,000 new residents every month, which convinced giant developer Concord Pacific to launch a five-tower master-planned community of 3,000 homes in the heart of Surrey's once-troubled Whalley area. More new homes were started in Surrey this year than in Vancouver, and Surrey accounts for one-third of all detached housing starts in B.C.'s Lower Mainland. Yet, at an average price of $569,000 for houses and $222,370 for condos, Surrey homes are half the price as in the City of Vancouver."

The city has also taken steps to allow development to proceed smoothly with tax incentives and an "e-business" system.

The only other Lower Mainland city on the list was the Township of Langley at number 10.



Info on South of the Fraser River: Surrey, Delta, White Rock, City of Langley, Township of Langley, Fort Langley. Maybe a bit of Abbotsford, just for fun.

This site is experimental. See About (top right) for more, or Blog for meta-information. The working goal is to create an almanac of items, tidbits of information and methods of gathering information.

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