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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
$489,000
213 13925 FRASER HIGHWAY, surrey, British Columbia

213 13925 Fraser Highway

Surrey, British Columbia

First time home-buyer & investors alert! Welcome to this practical layout, affordable one bedroom that's filled with natural light. Best location just off Fraser Hwy & just a short walk to King George Hub & Skytrain Station.Walking distance to King George Skytrain, Central City Mall, Surrey Memorial Hospital, SFU, Grocery Stores, Restaurants, Banks and Schools. Seize the opportunity to own this well run building with low strata fee. (id:48205)

1 Bedroom 1 Bathroom 610 sqft
For sale
$489,000
812 13615 FRASER HIGHWAY, surrey, British Columbia

812 13615 Fraser Highway

Surrey, British Columbia

LIVE in the heart of Surrey City Centre @ King George Hub by PCI. comes with 2-5-10 warranty and WITH 1 parking. Interiors by BYU Design, efficient layout, large 115sqft private balcony & floor to ceiling windows enabling maximum enjoyment of the south facing green & city views. Chef-ready kitchen: Blomberg stainless steel appliances, induction cooktop, Fulgor wall oven, quartz countertop, modern and durable wood laminate cabinetry with white accent upper cabinets! Great amenities: rooftop lounge, games room, BBQ, children's play area, theatre, caretaker, secure fob access throughout, yoga, and gym. Wonderful location steps to the King George Hub skytrain station, parks, shopping, SFU Surrey, restaurants, bars and cafes. (id:48205)

1 Bedroom 1 Bathroom 494 sqft
For sale Open House
$488,000
2011 13615 FRASER HIGHWAY, surrey, British Columbia

2011 13615 Fraser Highway

Surrey, British Columbia

This one bedroom condo at King George Hub faces south with peak-a-boo views of Mt. Baker from the balcony. A functional and effiecent one bedroom home that comes with an EV parking stall. The building amenities add to your living space with the rooftop lounge that boasts 360 views, a BBQ area and dining space to entertain on summer nights. In addition there is a games room, playground, theatre, fitness and yoga studio. Step outside your door to all the amenities of this centrally located home; transit, Save-On-Foods, T&T, SkyTrain, Central City Mall, restaurants and more! (id:48205)

1 Bedroom 1 Bathroom 525 sqft
For sale
$487,500
603 10777 UNIVERSITY DRIVE, surrey, British Columbia

603 10777 University Drive

Surrey, British Columbia

Beautiful 1 BED 1 BATH + BONUS DEN/ STUDY!! This CORNER UNIT measures approx 570 sqft and is one of the LARGEST 1 bedroom floorplan in the building. Features include a study, granite counters, in suite laundry, laminate floors, large balcony and has VIEWS of the Park from your suite! Located ACROSS the street from Gateway SKYTRAIN Station, ideal location that brings you to downtown in 30 minutes! Perfect for investors & first-time buyers! Rentals allowed. 1 parking stall & 1 storage locker included. Walking distance to Central City Shopping, SFU campuses, KPU University, VCC, City Hall & Library. The building has a deluxe gym, media lounge with pool table and private garden for leisure walks. (id:48205)

1 Bedroom 1 Bathroom 569 sqft
For sale
$484,900
513 10616 132 STREET, surrey, British Columbia

513 10616 132 Street

Surrey, British Columbia

Own a piece of BRIZA, Surrey's latest gem. This BRAND NEW TOP FLOOR 1 Bed + 1 Bath Condo epitomizes modern living, blended with functionality. Situated in the heart of SURREY DOWNTOWN, Briza stands out with its CENTRAL LOCATION, offering easy access to SKYTRAIN stations, SFU, KPU, schools, parks, shopping centers, and recreational facilities. Whether you are a PROFESSIONAL seeking proximity to urban conveniences or a FAMILY looking to be near schools and sports facilities, this home meets all desires! (id:48205)

1 Bedroom 1 Bathroom 545 sqft
For sale
$484,900
E614 13858 108 AVENUE, surrey, British Columbia

E614 13858 108 Avenue

Surrey, British Columbia

ASSIGNMENT OF CONTRACT. This beautiful modern unit with 1 bedroom + 1 flex, with large size balcony. The Radley building offers a range of fantastic amenities, such as a fitness center, work-study room, an entertainment room and a cozy fireside lounge. Walking distance to GATEWAY station, various schools, parks and shopping centres. Suitable for a small family or an investment opportunity. Estimated completion summer 2024. (id:48205)

1 Bedroom 1 Bathroom 504
For sale
$480,000
2506 13303 CENTRAL AVENUE, surrey, British Columbia

2506 13303 Central Avenue

Surrey, British Columbia

Welcome to Wave built by Rize Alliance. A beautiful open concept 1 bedroom home with a massive den (almost the same size and can be used as a SECOND BEDROOM!), storage locker and parking. This aesthetically pleasing home offers comfort, flexibility, a plethora of storage and full size stainless steel appliances. Step out onto the 25th floor balcony for spectacular views of the mountain, city and valley. This bright modern residence includes great amenities: gym, recreation room & common rooftop patio and more. Its convenient location is walking distance to the SFU campus, Skytrain, Library, Recreation, Shopping Mall and a wide variety of Restaurants. You don't want to miss the opportunity to experience this exceptional unit for yourself! Call for a viewing today! (id:48205)

1 Bedroom 1 Bathroom 526 sqft
For sale
$480,000
907 13325 102A AVENUE, surrey, British Columbia

907 13325 102a Avenue

Surrey, British Columbia

Surrey Central Ultra University West Village. Enjoy this one-bedroom plus den(6'6x9'6)can be a kid's bedroom, NE-facing views, quiet, private inner unit, hardwood laminate floor, full height kitchen cabinets, quartz countertops and stainless steel appliances package. Free to access amenities such as gym, rec room, meeting room and playground. One Parking stall P2#149 and one storage Locker P3B #12. Walking distance to Skytrain, Bus loops, Library, City Hall, Recreation Centre, SFU, shopping mall and T&T. (id:48205)

1 Bedroom 1 Bathroom 723 sqft
For sale
$480,000
411 10777 UNIVERSITY DRIVE, surrey, British Columbia

411 10777 University Drive

Surrey, British Columbia

Welcome to Downtown of Surrey! This centrally located 1 bedroom and 1 bathroom Beautiful unit located in the heart of surrey with a flex room. This unit is very close to many amenities. Go downstairs for coffee and a pizza then walk across the street to the skytrain station to travel anywhere in the lower mainland. The flex room can be used an great home office and this home comes with a locker and dedicated parking located near Surrey Place Mall with nearby shopping, restaurants, schools, and recreations centres. (id:48205)

1 Bedroom 1 Bathroom 550
For sale
$480,000
2205 13688 100 AVENUE, surrey, British Columbia

2205 13688 100 Avenue

Surrey, British Columbia

Experience the convenience of urban living in this 1-bedroom, 1-bathroom condo at Park Place One, developed by Concorde Pacific. This unit is ideally located within walking distance to the King George Skytrain Station, Surrey Central Mall, and the future UBC campus. Residents benefit from premium amenities, including a 24/7 concierge, fitness center, yoga studio, media room, and bowling alley. Perfect for first-time buyers or investors, this property also comes with one parking spot. (id:48205)

1 Bedroom 1 Bathroom 577
For sale Open House
$479,999
113 10866 CITY PARKWAY, surrey, British Columbia

113 10866 City Parkway

Surrey, British Columbia

Welcome to urban living at its finest! This charming 1-bedroom condo offers both a cozy starter home and a smart investment opportunity in Surrey's lively City Centre. Enjoy the convenience of nearby shopping, dining, SFU, and a quick 5-minute walk to the Skytrain for a 35-minute ride downtown! Step inside to discover a ground-level retreat with a spacious fully-covered and fenced patio- perfect for outdoor entertaining. Inside, high ceilings, large windows, laminate flooring and a stylish brick-style backsplash that creates a welcoming atmosphere. Plus, enjoy the convenience of a gas fireplace, exercise facility, and a pet and rental-friendly building. Don't miss out on this urban oasis- call today to your exclusive viewing! (id:48205)

1 Bedroom 1 Bathroom 667 sqft
For sale
$479,998
323 13789 107A AVENUE, surrey, British Columbia

323 13789 107a Avenue

Surrey, British Columbia

Welcome to Quattro 2 built by Tien Sher in North Surrey! Your bright and spacious 2 bedroom, 1 bathroom unit with 2 parking spaces and 1 storage locker. RENTALS ALLOWED and currently rented at great rate!!! Great for your first investment property or to add to your portfolio. You will love the 10' ceilings and bright whtie kitchen with tones of storage and counter space. Be in the growing city center with tons of shopping and amenities nearby. This is a great building in a wonderful location. Walking distance to Surrey Memorial Hospital, SFU, Skytrain, City Centre Mall. This unit is designed with a thoughtful well-designed layout with the homeowner in mind. No more gym fees, you can enjoy the large private fitness center the building has to offer. Call today for your private viewing. (id:48205)

1 Bedroom 1 Bathroom 595 sqft
For sale
$479,900
1308 13615 FRASER HIGHWAY, surrey, British Columbia

1308 13615 Fraser Highway

Surrey, British Columbia

King Geroge Hub, well maintained and clean one bedroom plus 1 bath suite with stainless steel appliances, quartz counter tops and laminate flooring. Building amenities including fitness centre, recreation room, games room, rooftop lounge, BBQ area and theatre room. Walking distance to Save on Food, bank, restaurants, Central City Shopping Centre, T&T Super Market, SFU, and King George Skytrain Station. (id:48205)

1 Bedroom 1 Bathroom 500 sqft
For sale
$479,900
503 10581 140 STREET, surrey, British Columbia

503 10581 140 Street

Surrey, British Columbia

A bright and spacious one-bedroom condo spanning 601 sqft is now available at the HQ Complex, strategically situated near Downtown, SFU Campus, and the SkyTrain station for effortless commuting. This centrally positioned unit offers convenient access to a plethora of destinations. The complex boasts an array of amenities, comprising indoor and outdoor lounges, a party room, a storage locker, one parking space, a recreation room, fitness facilities, and a games room. Positioned in close proximity to malls, SkyTrain stations, bus routes, SFU campus, and Hawthorne Park, this condo presents an excellent opportunity with its wealth of amenities. OPEN HOUSE SATURDAY & SUNDAY 22ND & 23RD JUNE 12PM - 2PM (id:48205)

1 Bedroom 1 Bathroom 601 sqft
For sale Open House
$479,000
804 13318 104 AVENUE, surrey, British Columbia

804 13318 104 Avenue

Surrey, British Columbia

Welcome to Linea by Rize, conveniently located in the heart of Surrey Central. This one bedroom has built-in Air Conditioning, High-End Appliances, a Large Island, laminate Floors, Conduction Stove Top and a smart Thermostat. In addition, the owner has converted most of the switches with Smart Switches which can be controlled via App. This East-Facing,8th Floor unit has a large balcony over looking the beautiful city view. The building amenities includes a playground, rooftop patio, social area, exercise room, co-working space, indoor lounge, dog wash, and more! Walking distance to Surrey Central Skytrain Station, KPU, Holland park, Central City mall, T&T supermarket, Walmart and etc. Parking and Locker included, both on P1 level. (id:48205)

1 Bedroom 1 Bathroom 502 sqft
For sale
$479,000
511 13350 CENTRAL AVENUE, surrey, British Columbia

511 13350 Central Avenue

Surrey, British Columbia

With one of the best layouts in the building, this 1 bedroom home is open, functional and bright! It features a sleek kitchen with integrated Fulgor appliances, quartz counters and backsplash for an upscale look. The stunning bathroom and flooring throughout exude a modern and stylish feel. Enjoy your private patio with some open views. One Central is a stunning new highrise with a concierge, spectacular amenities like the One Club the 44th floor with indoor and outdoor lounges, bbq space, pool table, table tennis, Sky Fitness, and spectacular panoramic water and mountain view all around. There is the Fitness Centre and yoga (level 3&4), The Terrace with lounges and dog walk (level 14), and a Business/Learning Centre (level 14). Steps to SFU, KPU, Civic Plaza, shopping and Skytrain! (id:48205)

1 Bedroom 1 Bathroom 476 sqft
For sale
$479,000
525 13733 107A AVENUE, surrey, British Columbia

525 13733 107a Avenue

Surrey, British Columbia

Fantastic one bedroom, one bathroom penthouse unit at Quattro by Tien Sher! Thoughtfully designed open concept floorplan with 10' ceilings and oversized windows providing loads of natural light. Granite countertops and brand new stainless steel appliances in the kitchen with new light fixtures, new decora switches/outlets and freshly painted throughout. Located on the QUIET side of the building, the unit also has in-suite laundry, 1 parking space and 1 storage locker. Building amenities include a fully equipped gym, playground, green space and visitor parking. Close to public transit, Surrey City Centre Library, Simon Fraser University, and Surrey Memorial Hospital. Perfect for a first time buyer or investor, call for your private showing! (id:48205)

1 Bedroom 1 Bathroom 581 sqft
For sale
$479,000
606 9981 WHALLEY BOULEVARD, surrey, British Columbia

606 9981 Whalley Boulevard

Surrey, British Columbia

Welcome to Park Place 2, built by Concord Pacific. This spacious SE facing 1 bedroom unit offers an open concept floor plan with floor-to-ceiling windows for you to enjoy the natural light all year round. Spacious floor plan with laminate flooring throughout. Large open style kitchen with stone counters and lots of cabinets for storage. Ideally situated right beside King George Skytrain Station, Holland Park, King George Hub, Central City Shopping Centre and walkable to the numerous post-secondary institutions including SFU, KPU and the newly acquired, future UBC Campus. Amazing amenities include concierge, bowling lanes, theatre, fitness facility, meeting room, yoga/pilates studio and more! (id:48205)

1 Bedroom 1 Bathroom 568 sqft
For sale
$479,000
611 13750 100 AVENUE, surrey, British Columbia

611 13750 100 Avenue

Surrey, British Columbia

Real hot Buy LIKE NEW junior 1 bedroom Studio with parking. This 450SF unit is perfect for first time home buyer/investor. Laminate flooring throughout, kitchen features Samsung Appliances, Quartz countertops, tile backsplash, Gas cooktop, built-in oven, undermount sink and new faucet. Spacious living space, bedroom with large walk-in closet, in-suite laundry and huge balcony. Updated ,Amenities include a large gym, outdoor pool, sauna, hot tub, tennis court, golf putting green, yoga pavilion, rooftop sky garden and 24/7 concierge, . Super convenient location, only walking distance to sky train and to Surrey Central Mall, Holland Park, SFU Surrey Campus and library. Call for showing. (id:48205)

1 Bedroom 1 Bathroom 450 sqft
For sale
$475,000
707 13685 102 AVENUE, surrey, British Columbia

707 13685 102 Avenue

Surrey, British Columbia

Located in the heart of Surrey Central, this amazing 1-bedroom, 1-bathroom condo offers the perfect urban retreat. Boasting a spacious 459 SQFT open-concept living room, it is flooded with natural light from its south-facing view. The kitchen features high-end stainless steel Bosch appliances, quartz countertops, a stylish backsplash, and abundant cabinet space. Huge amenities room with outdoor area, study room, gym, movie theatre, clubhouse, guest suite and much more! Walking distance to shops, malls, and schools such as the upcoming UBC Campus, SFU and KPU! INVESTOR ALERT: This unit can be rented for over $2000/month! 1 Parking, 1 Large Storage Locker, Pets Allowed! Don't miss this opportunity to live in this growing area of Surrey Central! (id:48205)

1 Bedroom 1 Bathroom 459 sqft
For sale
$475,000
2701 9981 WHALLEY BOULEVARD, surrey, British Columbia

2701 9981 Whalley Boulevard

Surrey, British Columbia

Built by Concord Pacific, this stunning home offers everything you desire, along with the convenience of a 24 HR Concierge service. The smart floor-plan and modern Euro style kitchen, featuring Corian countertops and stainless steel appliances, provide an effortless lifestyle. The peaceful master bedroom is cleverly tucked away behind elegant French doors, ensuring maximum privacy. With floor-to-ceiling windows, you can relish in the breathtaking mountain views. The incredible 10,000 SF "Club Central" boasts amenities like 2 Bowling lanes, a fully equipped gym, a stylish Billiard lounge, a tranquil Yoga studio, a rejuvenating Steam Room, and a delightful Podium Roof Top patio. Electric vehicle charging stations are available. Centrally located. OPEN HOUSE 2-4PM SUNDAY 12 MAY (id:48205)

1 Bedroom 1 Bathroom 527 sqft
For sale
$475,000
3306 13618 100 AVENUE, surrey, British Columbia

3306 13618 100 Avenue

Surrey, British Columbia

Welcome to INFINITY! This NE-facing unit boasts an incredible, unobstructed View of Downtown Central City with a functional layout having a solarium from the bedroom which can be used as a den! Steps to Holland Park, transit, Skytrain, SFU, and Surrey Central Mall! Vancouver, Coquitlam, and Richmond are only a short drive away! The unit was all painted last year with a -newer -old washer and dryer. The Infinity Tower offers a 24-hour concierge, a fully equipped gym, an amenity room on the 34th floor & visitor parking. 2 pets and rentals are allowed. Perfect for a first-time home buyer or as an Investment property! (id:48205)

1 Bedroom 1 Bathroom 579 sqft
For sale
$475,000
1805 13688 100 AVENUE, surrey, British Columbia

1805 13688 100 Avenue

Surrey, British Columbia

Park Place One, an impressive development crafted by Concorde Pacific. This immaculate 1 bed 1 bath condo is located on the 18th floor of a 36-storey high-rise offering scenic city & mountain views. Fresh coat of paint, brand new washer/dryer, dishwasher, fridge and garburator. Amenities include a 24/7 concierge, fitness center, yoga studio, theatre/media room and bowling alley. Convenience is at your doorstep with the King George Skytrain Station, Holland Park, SFU, T&T Supermarket, shopping mall, recreation centers, and the future UBC campus all within proximity. Complete with 1 parking, NO storage locker. Perfect for first-time buyer or investor! (id:48205)

1 Bedroom 1 Bathroom 577 sqft
For sale
$475,000
2310 13618 100 AVENUE, surrey, British Columbia

2310 13618 100 Avenue

Surrey, British Columbia

Welcome to "Infinity" in the heart of Surrey City Centre! This 1 Bed + 1 Bath suite is AMAZING VALUE for a first-time home buyer or for an investor - RENTALS ALLOWED. Features include an open floor plan, floor-to-ceiling windows with beautiful views overlooking Holland Park, new carpet, sleek granite countertops, full-size appliances, a spacious walk-in-closet and French doors off the primary bedroom which lead to a bonus solarium. In-suite laundry, 1 Parking Stall included. PETS ARE ALLOWED with restrictions. Well-managed building with 24/7 concierge, gym, lounge & visitor's parking. CONVENIENT LOCATION! Just minutes to KPU, Central City Shopping Mall, King George Skytrain, parks & more! (id:48205)

1 Bedroom 1 Bathroom 580 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