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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
$475,000
E109 10828 139A STREET, surrey, British Columbia

E109 10828 139a Street

Surrey, British Columbia

Attn: Pet Lovers, Parent with kids, first time buyer & Investor. Welcome to this 1 bedroom GROUND LEVEL 500+ sq ft unit w/ HUGE PVT 200+ sq ft YARD. Coming near Surrey City Centre this Summer 2024, live at the SOLD OUT "Viktor" & enjoy the convenience of a walkable community filled with shops, parks, restaurants and SkyTra n Station! Enjoy the MORNING SUN in this EAST facing condo w/ living room, dining room, and CHef's kitchen with lots of cabinets. $4000 CREDIT to the BUYER on COMPLETION, in-suite laundry & secured 1 PARKING is available. Some of the features incld. high ceilings, luxurious wide plank lamina e flooring throughout, amp le storage and stunning quartz countertops in the kitchen. Spa-like bathroom with oversized white tile and soaker tub is the utmost in function and style. (id:48205)

1 Bedroom 1 Bathroom 723 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
For sale
$475,000
E316 13858 108 AVENUE AVENUE, surrey, British Columbia

E316 13858 108 Avenue 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 Open House
$474,999
206 10838 WHALLEY BOULEVARD, surrey, British Columbia

206 10838 Whalley Boulevard

Surrey, British Columbia

Welcome to the Maverick! This 3 year old building offers many modern conveniences and is centrally located with quick access to Surrey Central's shopping and transit. This 1 bed + Den unit is in the heart of Surrey's Entertainment District. Chef inspired kitchen and modern finishings throughout. Enjoy the exclusive indoor/outdoor amenities space, Gym, Yoga room, Club House, Billiards, Gardens and more. Minutes away to Gateway Skytrain, Surrey Mall, Hospital, SFU and all of the other amenities Surrey Central has to offer. Open House July 6 and July 7th 2-4 pm. (id:48205)

1 Bedroom 1 Bathroom 575 sqft
For sale Open House
$474,900
901 9981 WHALLEY BOULEVARD, surrey, British Columbia

901 9981 Whalley Boulevard

Surrey, British Columbia

INTRODUCING PARK PLACE 2 built by Concord Pacific located in the heart of Surrey. This charming 1bed, 1bath condo features warm oak interior finishes, open-concept living space, efficient storage, fresh paint, laminate flooring, oak laminate kitchen cabinets w/ frosted glass accents, corian countertops & mosaic-look porcelain tile backsplash. Enjoy your spacious balcony & expansive windows which brings you the views of the City & Mountains! This building offers fantastic amenities like a gym, billiards/games room, bowling lanes, theatre, 24-hr concierge, Steam room, yoga/pilates room, indoor/outdoor lounge, and much more - perfect for those seeking a modern and convenient downtown lifestyle! Absolutely PERFECT for FIRST TIME BUYERS & ANY INVESTORS! CALL TODAY! OPEN HOUSE BY APPOINTMENT ONLY SAT, JULY 6 2-4PM (id:48205)

1 Bedroom 1 Bathroom 529 sqft
For sale
$474,900
203 10581 140 STREET, surrey, British Columbia

203 10581 140 Street

Surrey, British Columbia

Welcome to HQ Thrive by Porte Developments! This 1-bedroom unit in a convenient yet quiet location is the perfect starter home. Enjoy open living space with 9' ceilings and large SW-facing windows overlooking the peaceful courtyard. The kitchen boasts a built-in floor-to-ceiling pantry, soft-close cabinetry, quartz countertops and SS appliances. Other features include a large balcony, a nook for your work desk and a walk-in closet in the bedroom. This home comes with 1 secure underground parking spot & a storage locker. Pets are allowed - 2 cats or 2 dogs or 1 of each, no size restrictions. Amenities include a central courtyard with BBQ area, firepit, ping pong tables, fitness centre, yoga studio, lounge room, rooftop patio and more. Conveniently located close to shopping, schools, restaurants, SkyTrain, Hawthorne Park, an off-leash dog park, SFU and Hwy 1. Open Houses Sat Jun 29th & Sun Jun 30th 1-3pm. (id:48205)

1 Bedroom 1 Bathroom 616 sqft
For sale
$474,900
102 10777 138 STREET, surrey, British Columbia

102 10777 138 Street

Surrey, British Columbia

A great opportunity to own a large brand new, ground floor 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 includes finishes such as quartz counter tops and wide plank laminate throughout. Entertain friends and family with a BBQ on the private gated patio with it's own entrance from 138 st. 1 parking and 1 storage is also included. Be the first to live in this newly built unit! (id:48205)

1 Bedroom 1 Bathroom 490 sqft
For sale
$474,900
E414 13858 108 AVENUE, surrey, British Columbia

E414 13858 108 Avenue

Surrey, British Columbia

Assignment of Contract Sale for this beautiful modern home with 1 bedroom + 1 Flex, with large size balcony and recreation room under this property unit, it is perfect for family! Face south and east. Currently under construction and Estimated Completion in 2024. RADLEY is an icon of confident, high contrast design, collection of homes with heart- a community nestled in the energetic and evolving surrey city Centre. Walk to GATEWAY skytrain station, secondary school, steps to elementary school, parks, shopping center and so on. ACT FAST, BEFORE IT IS GONE!!! (id:48205)

1 Bedroom 1 Bathroom 561
For sale
$474,000
2203 10428 WHALLEY BOULEVARD, surrey, British Columbia

2203 10428 Whalley Boulevard

Surrey, British Columbia

Your chance to own in the sold out ASCENT building coming soon to Surrey City Centre! This one-bedroom home (504 sqft interior) with a large balcony (159 sqft exterior) offers air-conditioning, modern finishes, great views, stone countertops, gourmet kitchen with Fulgor Milano appliances, and wide plank laminate flooring. Enjoy modern conveniences, in a prime location steps from the Surrey Central SkyTrain Station, with easy access to shopping, restaurants, school, and much more. Amenities include a fitness center, rooftop terrace, social lounge, co-working space, dog run, and kids play area. One bike locker included - estimated to complete late 2024/early 2025. Contact us for more information! (id:48205)

1 Bedroom 1 Bathroom 504 sqft
For sale
$470,000
206 10157 UNIVERSITY DRIVE, surrey, British Columbia

206 10157 University Drive

Surrey, British Columbia

Welcome to Sutton Manor! Charming 2-bedroom, 1-bathroom unit located in the heart of Surrey Central. Walk to Central City Mall, Holland Park, T&T Supermarket, SFU, UBC, KPU, and King George Skytrain Station with just steps away! Spacious bedrooms, a balcony with fantastic views and a bright living area.. Don't miss out on purchasing a 2 bed condo in the heart of Surrey and a mid-high rise development site! (id:48205)

2 Bedroom 1 Bathroom 850 sqft
For sale
$470,000
1604 13495 CENTRAL AVENUE, surrey, British Columbia

1604 13495 Central Avenue

Surrey, British Columbia

Welcome to 3 Civic Plaza - The tallest building in Surrey. Enjoy premium hotel living while being steps from Surrey Central Skytrain, SFU, KPU, Central City Shopping Centre and various restaurants. This spacious 1 bedroom unit offers open-concept living with East-facing city views. Great for first-time homebuyers and investors. Includes 1 storage locker. (id:48205)

1 Bedroom 1 Bathroom 563
For sale Open House
$469,999
2001 13398 104 AVENUE, surrey, British Columbia

2001 13398 104 Avenue

Surrey, British Columbia

Welcome to Alumni by Bosa. A bright south facing 1 bed condo in Downtown Surrey's vibrant university district. A functional layout with clever built-in furniture: a queen-size Murphy bed, a hidden single foldable bed, and a flexible den. The kitchen island features an extendable dining table to entertain guests. Enjoy S&S appliances, 1 parking spot, and 1 storage locker. Pet-friendly with top-notch amenities like a gym, lounge, and rooftop garden. Conveniently located near transit, parks, skytrain, Central City Mall, and SFU Surrey. Perfect for first-time buyers or savvy investors. **OPEN HOUSE JULY 6 (SAT) 2PM-4PM** (id:48205)

1 Bedroom 1 Bathroom 578 sqft
For sale
$469,999
504 10616 132 STREET, surrey, British Columbia

504 10616 132 Street

Surrey, British Columbia

Beautiful 1 BED 1 BATH In Briza. This UNIT measures approx 450 sqft + huge balcony on a fifth floor, it is one of the beautiful 1 bedroom floorplan in the building. Features include 1 designated underground parking, granite counters, in suite laundry, laminate floors, large balcony and has amazing street VIEWS! 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. Walking distance to Central City Shopping, SFU campuses, KPU University, VCC, City Hall & Library. The building has a community patio space, abundant garden features, and entertainment/gathering space. (id:48205)

1 Bedroom 1 Bathroom 426
For sale Open House
$469,800
807 13350 CENTRAL AVENUE, surrey, British Columbia

807 13350 Central Avenue

Surrey, British Columbia

Seize the opportunity to own 1+1 bedroom condo in One Central, an ideal choice for first-time buyers and investors. The kitchen boasts high-end appliances, including a gas cooktop, perfect for gourmet cooking. Situated in a prime location, this unit is close to transit, the Skytrain, shopping, SFU, dining, and the library. Enjoy a wealth of amenities, including a rooftop deck, outdoor terrace, table tennis, and two gyms, offering excellent spaces for hosting friends or spending quality time with family. It was rent for $2,200.00 per month till the end of June,2024 (id:48205)

1 Bedroom 1 Bathroom 460 sqft
For sale
$469,000
518 13968 LAUREL DRIVE, surrey, British Columbia

518 13968 Laurel Drive

Surrey, British Columbia

Introducing a brand new 1 bed, 1 bath unit on the 4th floor in the newly completed ML Emporio building. This prime location in Surrey Central offers unparalleled convenience. Just minutes' walk to Surrey General Hospital, King George SkyTrain Station, and the upcoming UBC campus, making commuting a breeze. Enjoy close proximity to Surrey Central Mall, SFU campus, and the bustling city centre. Ideal for both homeowners and investors, this unit promises high rental potential due to its strategic location. The modern design and high-quality finishes make it a perfect home or an excellent investment opportunity. Don't miss out on the chance to live or invest in one of Surrey's most sought-after areas. Discover more about the vibrant community and amenities nearby. Make this beautiful condo your new home or a valuable addition to your investment portfolio. (id:48205)

1 Bedroom 1 Bathroom 467 sqft
For sale
$468,800
214 10530 154 STREET, surrey, British Columbia

214 10530 154 Street

Surrey, British Columbia

The end unit is equipped with in-suite laundry, a balcony, and a fireplace. It also showcases newer appliances and fresh paint, adding to its appeal and modern feel. The property is currently tenant-occupied, making it an attractive option for investors. The long-term tenant pays $1600 per month plus utilities and has expressed a desire to continue their tenancy. providing immediate rental income and stability. This unit presents a great investment opportunity with reliable rental income. (id:48205)

2 Bedroom 1 Bathroom 833 sqft
For sale
$468,800
307 10928 132 STREET, surrey, British Columbia

307 10928 132 Street

Surrey, British Columbia

Retirement condo at its best! This brand-new one bedroom unit is ideal for independent seniors desiring an engaging and active lifestyle, such as two delicious meals a day with continental breakfast, housekeeping, transportation services, and on-site hairdressing, as well as enriching social programs like fitness classes, hobby and arts groups, scheduled outings, and live entertainment. This south facing unit comes with anti-slip and water resistant laminate and tile flooring, insuite laundry, walk-in shower, and an accessible patio - all designed for your wellbeing and a healthy lifestyle. Located near the city center of Surrey, it has easy access to a wide array of parks, services and nearby amenities. Call to find out more about a new stage of life ahead! (id:48205)

1 Bedroom 1 Bathroom 537
For sale
$468,000
306 13688 100 AVENUE, surrey, British Columbia

306 13688 100 Avenue

Surrey, British Columbia

This is Park Place ONE , built by award winning CONCORD PACIFIC, Located in the most desirable area of Surrey Central just steps away from King George Skytrain, Holland Park, SFU, future UBC site, malls, T&T and Surrey Memorial Hospital! This home features an open floor plan with tons of natural light from the floor to ceiling windows, spacious living room & generous sized bedroom with ensuite access.Updates including Microwave Hood Fan & Designer Dining Light Fixture+Bathroom Upgrades (Tiles, Cabinet, Light Fixture, Shower Tiles), Master Bed Upgrades (French Window Doors, Crown Mouldings, Newer Carpet, Wall Designer Sconce Lights).Stunning Sunset views of the mountains . 1 covered parking, All in one Amenities :Gym ,Yoga Studio,Theatre Room, Bowling Alley, Billiards, & much more!Book now. (id:48205)

1 Bedroom 1 Bathroom 577 sqft
For sale
$468,000
602 10777 138 STREET, surrey, British Columbia

602 10777 138 Street

Surrey, British Columbia

NEW PENTHOUSE LEVEL UNIT IN WHALLEY! The layout is smart and open, no wasted space. Expansive windows with privacy & views to allow fresh air & natural light into the unit, massive balcony, elegant durable wide-plank flooring throughout, Stainless Steel appliance package, under-mount sink, quartz countertops and polished tile backsplash. The building has amenities like: fireside lounge, business centre, courtyard BBQ and dining area, games room, party room with kitchen, gym, yoga studio, community garden, kids playground & much more. BONUS: best parking spot. All this while being steps from all the shops and restaurants along King George Blvd and the King George Skytrain Station for quick access to Downtown Vancouver. (id:48205)

1 Bedroom 1 Bathroom 480 sqft
For sale
$467,879
307 15210 GUILDFORD DRIVE, surrey, British Columbia

307 15210 Guildford Drive

Surrey, British Columbia

If you're looking for a GREAT home in a GREAT location, for a GREAT price, this home is for you. This spacious 718sq ft 1 bedroom, 1 bathroom unit features a wide-open living space, comes with 1 Parking and 1 Locker, Pet Friendly. THE ULTIMATE CENTRAL & FRIENDLY LOCATION, close to Hannam Supermarket (3 min), Guildford Town Center (4 min), T&T Supermarket (5 min), Harold Bishop Elementary (4 min), Johnston Heights Secondary (5 min). (id:48205)

1 Bedroom 1 Bathroom 718 sqft
For sale
$465,000
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
$465,000
208 13228 OLD YALE ROAD, surrey, British Columbia

208 13228 Old Yale Road

Surrey, British Columbia

Great investment and/or Self living opportunity in heart of Surrey central area. This lovely one-bedroom has a spacious balcony and offers a harmonious blend of modern living and urban convenience. Unit comes with one underground parking & one storage locker. This home is a true gem for those seeking affordability and convenience in the well-developed Surrey Central. Within walking distance to Skytrain & Bus stations, T&T, Walmart, SFU, KPU, etc. Just two blocks away from Surrey Central Plaza, major banks, Best Buy, Walmart, & London Drugs. This condo boasts an enviable location that epitomizes convenience. Whether you're a professional working in the city or a student attending a nearby university, this condo is in a perfect location for all. (id:48205)

1 Bedroom 1 Bathroom 525 sqft
For sale
$465,000
W416 10828 139A STREET, surrey, British Columbia

W416 10828 139a Street

Surrey, British Columbia

Viktor is centrally located near Surrey City Centre & all amenities including SkyTrain and Retail. 1 Bedroom unit on the top floor one of the bigger 1 beds in the building. 468 sq ft inside and 54 sq ft balcony. (id:48205)

1 Bedroom 468 sqft
For sale Open House
$464,999
1606 13350 CENTRAL AVENUE, surrey, British Columbia

1606 13350 Central Avenue

Surrey, British Columbia

Seize the opportunity to own 1-bedroom condo in One Central, an ideal choice for first-time buyers and investors alike. The sleek kitchen boasts high-end appliances, including a gas cooktop, perfect for gourmet cooking. Situated in a prime location, this unit is close to transit, the Skytrain, shopping, SFU, dining, and the library. Enjoy a wealth of amenities, including a rooftop deck, outdoor terrace, table tennis, and two gyms, offering excellent spaces for hosting friends or spending quality time with family. Secure your place in Surrey's most rapidly developing neighborhood today! (id:48205)

1 Bedroom 1 Bathroom 462 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