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North Surrey Homes for Sale

Whalley, Royal Heights, Port Kells, Bridgeview and Fraser Heights are just a few of North Surrey’s communities attracting potential homebuyers. The City of Surrey is very proactive and prides itself on its long-term goals of making the downtown Central Surrey core into something like Yaletown in Vancouver. With plenty of new commercial and residential real estate being developed today, you can literally watch the changes they have in motion on a daily basis. Central Surrey is quickly becoming a hot spot for first time homebuyers, investors, and working professionals who want to leave a greener footprint by using the many public transportation options all throughout the Lower Mainland. Check out our North Surrey MLS listings or call Natasha Taylor of the Taylor Team at 1-778-316-4290 and let our group of experienced North Surrey Sutton real estate agents show you why Surrey has been rated BC’s #1 area to invest in (and the #4 in all of Canada).

About North Surrey BC

North Surrey British Columbia is a great place for the first time buyer, commuter, or for anybody looking to invest in BC real estate. Let our group of experienced Sutton North Surrey real estate agents at The Taylor Team show you why Surrey has been rated the #1 area to invest in BC and the #4 in all of Canada. Whether you are looking to jump on the sky train and head to work with ease or just get into the Surrey real estate market, you definitely can’t go wrong buying here in North Surrey BC. With starter areas like Whalley, to more prestigious residential communities like Fraser Heights, there is much to choose from here in North Surrey.

North Surrey real estate is constantly under development. An extremely large amount of BC condos and new homes are being built in this popular area as well as new commercial buildings.

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For sale
$499,900
207 13383 108 AVENUE, surrey, British Columbia

207 13383 108 Avenue

Surrey, British Columbia

CORNERSTONE - Location, location, location! 2 Bedroom, 2 bath 838 sq ft with two decks facing North for views of the North Shore mountains and east for morning sun. Close to SkyTrain and Surrey Central. This lovely home has an open feel with a large, bright living space. It features a gas fireplace, beautiful new hardwood flooring and fresh paint plus all new blinds throughout. Cornerstone also offers a Caretaker and loads of amenities: swimming pool, hot tub, gym, games room and more. Low maintenance fee of $454. OPEN TO OFFERS (id:48205)

2 Bedroom 2 Bathroom 838 sqft
For sale
$499,900
1111 13428 105 AVENUE, surrey, British Columbia

1111 13428 105 Avenue

Surrey, British Columbia

University District by award winning developer, Bosa. This hyper functional one bed one bathroom condo is expertly designed to maximize space. Boasting an individual AC/HRV system, floor to ceiling windows, modern kitchen with cabinet faced appliances, retractable kitchen table, and stunning views. This building also come equipped with over 23,000 square feet of world class amenities located in a separate building for maximum privacy and security. On site parcel delivery room, massive gym, bike storage and maintenance area, spin room, yoga space, coworking space with multiple meeting rooms, heated pool, outdoor cooking/entertainment space with fire pit, and more! The best North Surrey has to offer. (id:48205)

1 Bedroom 1 Bathroom 517 sqft
For sale
$499,900
611 13615 FRASER HIGHWAY, surrey, British Columbia

611 13615 Fraser Highway

Surrey, British Columbia

Welcome to the award-winning King George Hub by PCI, where elegance and convenience seamlessly blend. This luxurious and efficient 1-bedroom boasts a well-appointed entryway leading to a sleek U-shaped gourmet kitchen, featuring integrated Bloomberg appliances, a Fulgor Milano stainless steel oven and cooktop, quartz countertops. The spacious living area accommodates both relaxation and dining. Designed by BYU Design, the interiors radiate sophistication and comfort. Indulge in premium amenities, including a rooftop lounge, games room, BBQ area, children's play zone, theatre, private dining area with a cooktop, and a fully-equipped fitness and yoga studio. Ideally located, you are mere steps from Save-On-Foods, T&T Supermarket, SFU, SkyTrain, Central City Mall, and an array of delightful dining options. Embrace the ultimate urban lifestyle at King George Hub! (id:48205)

1 Bedroom 1 Bathroom 525 sqft
For sale
$499,900
1808 13359 OLD YALE ROAD, surrey, British Columbia

1808 13359 Old Yale Road

Surrey, British Columbia

Welcome to The Holland by Townline! Built in 2023 and located near Central City, this Northwest facing 1 bed, 1 bath boasts 469 sqft. A large 165 sqft balcony offers spectacular, unobstructed views of both city and mountains. This building's amenities include a gym, business centre, party room, music room, concierge, and guest suite. The open layout of this unit allows for functionality and flexibility. Included in the suite is A/C, laundry, high end appliances with built in oven and microwave, gas stove, and floor to ceiling windows. Walking distance to nearest skytrain/public transport, restaurants, shopping centre, parks, cafes, grocery store and more. Pets welcome! 1 parking and 1 storage locker included. (id:48205)

1 Bedroom 1 Bathroom 469 sqft
For sale
$499,900
4006 13350 CENTRAL AVENUE, surrey, British Columbia

4006 13350 Central Avenue

Surrey, British Columbia

ELEVATE YOUR LIVING with the HIGHEST LEVEL proper 1-bedroom condo on the 40th FLOOR featuring SPECTACULAR VIEWS! Just 3 floors below the penthouse level, this is one of the HIGHEST RESIDENCES in the entire city! It boasts MUCH HIGHER CEILINGS than lower levels & you wake up energized OVERLOOKING THE CITY. Enjoy over 20,000 sqft of WORLD CLASS AMENITIES over 5 levels. Located on the rooftop level w/ PANORAMIC 360 DEGREE VIEWS OF THE WATER, MTNS, & CITY LIGHTS is The One Club! This unique facility also offers Level 44 Lounge w/ access to an amazing kitchen & dining space. Relax on the outdoor terrace with access to multiple BBQs & sunchairs. Fitness buffs will love The Cube: a FULLY-EQUIPPED GYM w/ yoga loft. Work from home? You will love Workspace on the 34th floor! (id:48205)

1 Bedroom 1 Bathroom 465 sqft
For sale
$499,900
1204 13318 104 AVENUE, surrey, British Columbia

1204 13318 104 Avenue

Surrey, British Columbia

Welcome to Linea by Rize in the heart of Surrey Central! High-end appliances, a large island, laminate flooring, a conduction stove top, built-in air conditioning, and a smart thermostat are just some of the features included with this fantastic 1 bedroom home. A 12th floor home with a large outdoor balcony offers great outdoor space. Amenities include playground, rooftop patio, social area, fitness centre, inside lounge, co-working space, and dog wash station! The Surrey Central Skytrain Station, KPU, Holland Park, Central City Mall, T&T grocery, Walmart, are all within walking distance. Storage locker and parking stall included. Contact us to view! (id:48205)

1 Bedroom 1 Bathroom 504 sqft
For sale
$499,900
302 13919 FRASER HIGHWAY, surrey, British Columbia

302 13919 Fraser Highway

Surrey, British Columbia

Unique opportunity to own this gorgeous sub-penthouse 1BD/1BA condo in a building MAXX-VERVE with unobstructed West facing views from fully covered balcony. Central Surrey location next to King George SkyTrain and Transit, across from the Surrey Memorial Hospital and blocks from Central City Shopping Centre. Enjoy 9' ceilings, long-wearing laminate flooring throughout, and energy star stainless steel appliances. In-suite, front-loading stacking washer and dryer, horizontal venetian blinds. Secured underground parking and private storage lockers, central hot water, key fob access and video enter phone. (id:48205)

1 Bedroom 1 Bathroom 637 sqft
For sale
$499,900
406 10523 UNIVERSITY DRIVE, surrey, British Columbia

406 10523 University Drive

Surrey, British Columbia

Welcome to Grandview Court, a well-maintained and rain-screened building. This TOP floor corner unit has been nicely updated with a new kitchen, fresh paint, new appliances and cabinets in the bathroom. You'll love the southeast exposure adding abundant natural light and TWO private balconies for your exclusive use. The building features two elevators, an exercise room, saunas and a bike room. 1 parking space and 1 spacious storage locker. Proximity to SFU Campus, city hall, services, restaurants, recreation, parks, shopping and a library. Pet and rental friendly. A great place to call home, schedule your appointment today! (id:48205)

2 Bedroom 1 Bathroom 778 sqft
For sale
$499,900
109 10777 138 STREET, surrey, British Columbia

109 10777 138 Street

Surrey, British Columbia

A great opportunity to own a brand new, ground floor, large corner unit in the Q5 development. Centrally located close to shopping, amenities, and walking distance to Gateway station. This open concept 1 bedroom and 1 bath unit is light and bright thanks to the cool color scheme and ample windows allowing for natural light in every area of the unit. Enjoy your morning coffee on the private patio, with a quiet courtyard view, away from the main street. 1 parking and 1 storage is also included. (id:48205)

1 Bedroom 1 Bathroom 551 sqft
For sale
$499,900
1808 13615 FRASER HIGHWAY, surrey, British Columbia

1808 13615 Fraser Highway

Surrey, British Columbia

Welcome to King George Hub, the epitome of urban living in Surrey's downtown core! This North-facing one-bedroom unit is equipped with Blomberg & Fulgor Milano appliances, and complemented by sleek quartz countertops on a spacious kitchen island. Amenities including a large Fitness Centre, Yoga Studio, expansive 40th-floor Rooftop Lounge with BBQ, Games Room, lounges, children's play area, and Theatre Room. With its prime location adjacent to King George station, explore the city with ease or indulge in nearby attractions such as Brown's Social house, Central City Shopping Centre, T&T Supermarket, SFU Surrey campus, UBC's future campus, and much more-all within walking distance! (id:48205)

1 Bedroom 1 Bathroom 501
For sale
$499,000
1505 13685 102 AVENUE, surrey, British Columbia

1505 13685 102 Avenue

Surrey, British Columbia

Great Opportunity to own or invest in this ones bedroom, one bathroom unit in prestigious "Georgetown I" built by Anthem. Feels good to have 24 hr concierge or security in lobby presence. Very well designed, corner unit, facing Southeast with balcony and great panoramic views. Building has the greatest amenities: Premium Theatre, Fitness Centre, Pet Park, Study Space, Guest Suite Rentals, Entertaining Lounge. Steps to Transit, minutes walk to SFU, City Centre, & Shopping Centre. One Parking & One Storage. (id:48205)

1 Bedroom 1 Bathroom 478 sqft
For sale
$499,000
608 10777 138 STREET, surrey, British Columbia

608 10777 138 Street

Surrey, British Columbia

Be the first to call this brand new, top-floor corner unit home, at Q5 Whalley District! This 1 bedroom, 1 bathroom open concept floor plan offers 530 sqft of modern, functional living space. Enjoy stunning views and abundant natural light from every angle of this thoughtfully designed home, with 1 parking and storage included. Indulge in the building's array of amenities, including a fitness center, business center, games room, shared garden space, entertainment lounge, outdoor bbq area, children's play zone and more. Plus, excellent proximity to public transit, Surrey City Centre Library, Simon Fraser University, and Surrey Memorial Hospital. A great opportunity to be a part of the rapid growth of Surrey Central! (id:48205)

1 Bedroom 1 Bathroom 530 sqft
For sale
$499,000
2901 13696 100 AVENUE, surrey, British Columbia

2901 13696 100 Avenue

Surrey, British Columbia

Located in the fastest growing, dynamic community in North Surrey, this 1 bed and 1 bath condo boasts 512 sqft of living space. Bright and Airy contemporary interior. Strategically located nearby Holland Park, SFU, Surrey Central City Mall, T&T, Walmart, banks, clinic, restaurants and much more! King George Skytrain Station is just steps away! OPEN HOUSE: Sun, 23 Jun, 2-4pm. (id:48205)

1 Bedroom 1 Bathroom 512 sqft
For sale
$499,000
2306 13685 102 AVENUE, surrey, British Columbia

2306 13685 102 Avenue

Surrey, British Columbia

Location location !!! One of the finest building from Anthem's master community in the heart of rapid growing Surrey City centre. Just minutes walking distance to SFU, KPU, Wal-Mart, T&T, Surrey City Centre Shopping Centre, Cityhall, Library and more! This open Park & Green View. The unit faces East. Well layout 1 bed & 1 bath features luxury European built-in appliances w/ Light wooden engineered floor & quartz countertops. This 1st tower includes massive 30,000 sq.ft of amenities [entertaining lounge w/ a premium outdoor theatre for your private event, co-work/study space, pet park, fitness centre & yoga studio with water dispenser & 2 seperate washrooms and a guest suite Rentals allowed. Pets allowed with restriction. A must see to believe !!! OPEN HOUSE SATURDAY JUNE 22 FROM 2PM TO 4PM (id:48205)

1 Bedroom 1 Bathroom 458 sqft
For sale
$499,000
325 11077 RAVINE ROAD, surrey, British Columbia

325 11077 Ravine Road

Surrey, British Columbia

The Ledgeview condo by Quadra Homes, near Gateway Skytrain Station, combines luxury and convenience. Featuring a modern kitchen with quartz countertops, a gas range, shaker cabinets, and high-end appliances. It's air-conditioned, with triple-glazed windows and high-end finishes. The communal rooftop patio offers stunning mountain views, a playground, and picnic areas. Additional amenities include a gym, party hall, and ground-floor spaces. The living room leads to a West-facing patio, and the unit includes underground parking. With 9-foot ceilings, an oak-toned scheme, heated bathroom tiles, and a wall safe, it's ideal for first-time buyers or investors, thanks to its pet-friendly policy. Its proximity to key locations enhances its appeal. (id:48205)

1 Bedroom 1 Bathroom 519 sqft
For sale
$499,000
1512 13685 102 AVENUE, surrey, British Columbia

1512 13685 102 Avenue

Surrey, British Columbia

Welcome to Georgetown One by Anthem - 30 story tower built in 2022. This is the first of nine towers of Anthem's master planned community. Walking distance to Surrey Central Skytrain Station, SFU, KPU, future UBC campus, shops, restaurants and more. East facing floorplan with 452 sq ft living area and 125 sq ft covered balcony. L-Shaped kitchen features high-end BOSCH and BLOMBERG appliances, quartz countertops w/ full-height backsplash & modern black matte accents and more! 30,000 sqft of amenities incl. concierge, entertaining lounge, co-work space, outdoor theatre, dog run, fitness center and guest suite. 1 parking and 1 storage included. (id:48205)

1 Bedroom 1 Bathroom 453 sqft
For sale
$499,000
514 13789 107A AVENUE, surrey, British Columbia

514 13789 107a Avenue

Surrey, British Columbia

Welcome to Quattro 2! This BEAUTIFUL and SPACIOUS 1 Bed & 1 Bath PENTHOUSE HOME Features 10FT CEILINGS, NEW LAMINATE FLOORING THROUGHOUT, Newer Paint, Granite Counter Tops, Updated Lighting Fixtures, 2 PARKING SPOTS, and a GORGEOUS VIEW from the balcony of the Mountains. Steps away from Skytrain Station, Elementary School, Groceries, Universities and more! The amenities in this lovely building include a huge exercise centre, a playground perfect for kids to play on, and a quiet court yard. 2 PARKING & 1 Locker Included. Perfect for First time buyers, Investors and Down-sizers. Book your appointment today and come appreciate this beautiful home! (id:48205)

1 Bedroom 1 Bathroom 580 sqft
For sale
$499,000
906 13325 102A AVENUE, surrey, British Columbia

906 13325 102a Avenue

Surrey, British Columbia

Welcome to 906 13325 102a Ave V3T 0J5, your urban oasis! This stunning 1 bed, 1 bath CORNER home offers breathtaking MOUNTIAN views. The open-concept living space is flooded with NATURAL LIGHT, featuring a modern kitchen with stainless steel appliances. The spacious bedroom and elegant bathroom provide a serene retreat. Enjoy in-suite laundry, secure parking, and great building amenities. Located near all amenities; Skytrain, shops, restaurants, and parks, this home combines city convenience with natural beauty. (id:48205)

1 Bedroom 1 Bathroom 626 sqft
For sale
$499,000
414 10778 138 STREET, surrey, British Columbia

414 10778 138 Street

Surrey, British Columbia

Welcome to HENDRIX, where exceptional design meets a host of contemporary features. This thoughtfully crafted residence boasts a modern, open-concept layout, featuring expansive living spaces ideal for both entertaining and unwinding. 9 foot ceiling , Laminate flooring , spacious bed room with WI closet and full size W/D . Situated on the fourth floor, this exquisite 1-bedroom, 1-bathroom unit, developed by a reputable builder, is nestled in the rapidly growing City Center community of Surrey. 9 mins walk to Gateway Skytrain Station, SFU campus, hopping centers, parks, City Center amenities, restaurants, and various services. Whether you're a first-time buyer, student, or investor, seize the opportunity to be part of Surrey's future by claiming ownership of this remarkable unit! (id:48205)

1 Bedroom 1 Bathroom 625 sqft
For sale
$499,000
E313 13858 108 AVENUE, surrey, British Columbia

E313 13858 108 Avenue

Surrey, British Columbia

Introducing your STYLISH and MODERN residence in the sought-after Radley community! This impressive SPACIOUS CORNER unit boasts 1 Bed PLUS a FLEX space. The contemp. kitchen showcases sleek quartz countertops, a trendy tile backsplash, and S/S appliances. Luxurious wide-plank laminate flooring flows throughout the home, complemented by 9-ft ceilings and LARGE windows that flood the home with natural light. Situated just STEPS away from the skytrain, parks, shopping, SFU, KPU, and future UBC, convenience is at your doorstep. Residents enjoy a wealth of amenities including an entertainment room, fireside BBQ lounge, outdoor courtyard, fitness center with yoga studio, and a dedicated work-study room with PRIVATE pods. There's EV charging capabilities, a dog wash station, and more. CALL NOW! (id:48205)

1 Bedroom 1 Bathroom 628 sqft
For sale
$499,000
408 13359 OLD YALE ROAD, surrey, British Columbia

408 13359 Old Yale Road

Surrey, British Columbia

Welcome to Holland by Townline, West facing 1 bedroom 1 bath unit, with breathtaking views of mountain, and city. Very functional layout with great amenities like fitness studio, social lounge, meeting room & Study room etc. Great location and easy access to everything, mins walk from skytrain, shopping mall, parks, restaurants and banks. The building is equipped with A/C, ceiling-to-floor windows, and high-end appliances with 1 parking spot & 1 storage locker. Extremely low monthly maintenance fee. (id:48205)

1 Bedroom 1 Bathroom 471 sqft
For sale
$499,000
301 9865 140 STREET, surrey, British Columbia

301 9865 140 Street

Surrey, British Columbia

Court order sale. 2 bedrooms, 2 baths, gas fireplace, laminate floors, bright living room with plenty of windows. Top corner suite backing to tree area close to all amenities. Bring your decorative ideas. Maintenance fees include basic cable and internet (id:48205)

2 Bedroom 2 Bathroom 1001 sqft
For sale
$499,000
609 10777 UNIVERSITY DRIVE, surrey, British Columbia

609 10777 University Drive

Surrey, British Columbia

Attention investors and first time buyers! This superb one bed+Den unit with stunning views of mountain and city. Open concept kitchen has quartz counter top and stainless steel appliances. One large bath. Close to sky-train, SFU surrey and central city mall. This unit includes underground parking and locker. (id:48205)

1 Bedroom 1 Bathroom 569
For sale
$498,888
2707 13696 100 AVENUE, surrey, British Columbia

2707 13696 100 Avenue

Surrey, British Columbia

Experience unrivaled luxury living at Concord, ideally nestled in the coveted west-facing corner. Indulge in a culinary sanctuary featuring exquisite marble kitchen backsplashes and quartz countertops. Your unit boasts convenient parking and not one, but two storage lockers. Immerse yourself in resort-style amenities including tennis court, outdoor pool, golf stimulator, and an upscale party room. Marvel at the awe-inspiring views form the 39th floor. With its prime location, enjoy seamless access to shopping centres, the University, and the Skytrain, ensuring a lifestyle that's both central and connected. **OPEN HOUSE SAT JUNE 29th 1-3PM** (id:48205)

1 Bedroom 1 Bathroom 512 sqft
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The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board.

About The City of

North Surrey

North Surrey is a perfect place for those who may need to commute. Not only is there an abundance of public transportation but you are located only about 25 minutes from downtown Vancouver by car. You also have many access and exit points to North Surrey through the Queensborough Bridge and multiple highway routes.

The community is beginning to develop plenty of luxury developments at much more affordable rates when compared to Burnaby and Vancouver. For penthouse units or condos with city and mountain views in Surrey you are looking at price ranges in the $600,000’s to $700,000’s, $800,000’s, and above. These offer unobstructed panoramic views of the city, the Fraser River, and the Pacific Coast Rocky Mountains making them extremely well priced in comparison to condos with views in Vancouver or Burnaby.

Neighborhoods in

North Surrey

In recent years, North Surrey has continued to grow and new condo and townhouse developments are popping up across town. With recent growth, the community has seen a lot of new custom homes being and young affluent families are beginning to move in.

map of clodverdale neighborhoods

Amenities in

North Surrey

In North Surrey there is also plenty of entertainment and lots of things to do. There is a large mall located just off the Skytrain and an excellent Recreation Centre with a swimming pool, Ice Arenas, Weight Room and Cardio Centre. Within the Rec Centre there are also some great after school programs, youth programs, and classes for adults.

North Surrey is home to some of the most state-of-art recreational facilities in Surrey. Whether you’re looking for indoor gyms, swimming pools, ice rinks or well-maintained outdoor walking trails, North Surrey has it all.

  • North Surrey Sport & Ice Complex
  • North Surrey Community Park
  • North Surrey Recreation Centre
  • Green Timbers Urban Forest
  • Holland Park
There are plenty of elementary and secondary schools located in North Surrey. Many of these schools have an excellent track record.

North Surrey Elementary Schools:

  • Hjorth Road Elementary School
  • Serpentine Heights Elementary School
  • Bonnaccord Elementary School
  • Berkshire Park Elementary
  • Harold Bishop Elementary
  • William F. Davidson Elementary School
  • Riverdale Elementary School

North Surrey Secondary Schools:

  • North Surrey Secondary School
  • Johnston Heights Secondary School
  • Guildford Learning Centre
  • Fraser Heights Secondary School

Private Schools in Cloverdale:

  • Holy Cross Regional High School
  • Surrey Christian School
  • Regent Christian Academy
  • Pacific Academy
North Surrey has an excellent reputation as being one of the best shopping districts in the Fraser Valley. Thousands of non-residents travel across the Fraser Valley each week just to be able to shop here.

  • Guildford Town Centre
  • Central City Mall
  • Cedar Hills Shopping Centre
  • Riverside Heights Shopping Centre

The transportation options in North Surrey continue to improve year after year. With easy access to Downtown Vancouver, its no surprise many commuters live in North Surrey and drive or transit into Vancouver for their jobs.

  • Uber
  • Translink Buses
  • Taxi Service
  • Skytrain

Economic Stats for

North Surrey

The economy in North Surrey continues to grow rapidly across a variety of different industries from finance to medical and education to warehousing. The economy is flourishing across all sectors and is expected to continue for many, many years.

North Surrey’s population has been steadily growing over the last decade. Over the last ten years, we have seen population growth close to 1% year after year, especially in Whalley (the city centre).
Communities like Whalley have lower than average household incomes, but a staggering 11% of the households each in excess of $150,000 per year in household income.

As the community continues to grow we expect the household incomes to increase substantially.

Similar to many other communities within the Fraser Valley, North Surrey has experienced drastic pricing increases, especially in new development projects.

North Surrey April 2021 Price Three Year % Change    
Detached House $1,288,100 30%    
Townhouse $618,800 7%    
Apartment/Condo $452,800 4%    

(From MLS® Home Price Index – Fraser Valley Real Estate Board April 2021.)

 

Residential Property Tax Rate for Surrey from 2018 to 2020
Year Muni. Rate Edu. Rate Total Rate
2020     0.189%     0.123%       0.346%
2019     0.176%     0.114%       0.319%
2018     0.181%     0.116%       0.326%

There are several major economic drivers in North Surrey. While the city has a very diverse economy, there are several large organizations that have been critical to the growth over the last several years.

Simon Fraser University is located in the Central City mall. With over 7,000 university students per semester, this provides a huge economic boost to the surrounding restaurants and retail stores. Kwantlen Polytechnic University has launched a new campus right next door which attracts several thousands more students.

Surrey Memorial Hospital is a high-volume hospital that employs thousands of highly paid and unionized staff. 

 

Rental Potential in

North Surrey

Condos for sale in the core of North Surrey, near the Simon Fraser University Surrey Campus, are a sure bet for rental investments. Today the Taylor Team has sold many of these units to individuals from all over the world who are purchasing these North Surrey condos purely for rental investment purchases. Being that these condos start in the $400,000 price point approximately, the rent literally will pay your mortgage if you need one. Being that all the condos are located within walking distance to the Skytrain, many students without personal transportation love to rent out the condos for the duration of their higher learning, and in some cases we have seen that the graduates stay in these condos as they are quite nice and extremely convenient for the working professional who has to commute into downtown Vancouver.

Before you take the first step in acquiring a real estate investment it is best that you understand the most common costs associated with acquiring and maintaining a rental property.

  • Property Transfer Tax – This is a provincial tax on the transfer of ownership between the seller and buyer. In general, it is 1% – 3% of the fair market value.
  • Lawyer Fees – These fees vary depending on the firm’s rates and whether you will be financing or paying cash for the property. That being said, in general, the cost is approximately $1,000 – $2,000.
  • Property Taxes – All real estate in BC is impacted by property taxes in one way of another. In North Surrey, you can expect to pay around 0.334% of the BC assessment value each year.
  • Strata Fees – If you’re purchasing a property that has a strata corporation, then you can expect to pay a monthly fee to the strata. Most, if not all, apartments, townhomes, and condos have a monthly strata fee. This can range from $200 – $500+ per month.
  • Repairs & Maintenance – Most savvy investors budget 1 – 2 % of the fair market value of the property for repairs and maintenance.
  • Property Management – Who will manage the screening of tenants? What about collect the rents and abide by the BC Tenants Act? Property management companies can manage all of the day-to-day operations for anywhere from a 6 – 10% commission.

North Surrey is a big rental market. There are plenty of savvy investors that understand how lucrative the North Surrey rental market is and they continually invest in new condo projects, townhomes, and detached homes.

Vacancy rates in North Surrey are almost non-existent with the average being between 1-1.5% vacancy at any given time.

As we all know, each neighbourhood and property type will be able to demand rental rates at different rates. So it’s best to speak with a local real estate agent who understands your property and the market demand.

Estimated Monthly Rents:

1 Bedroom – $1,350 – $1,600 per month

2 Bedroom – $1,700 – $2,150 per month

3 Bedroom – $2,200 – $3,400 per month