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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
$449,000
2509 13325 102A AVENUE, surrey, British Columbia

2509 13325 102a Avenue

Surrey, British Columbia

University District opportunity to invest in this beautiful 40 storey skyscraper in Surrey's City Centre! This centrally located hi-rise is only steps from City Hall, Civic Plaza, Central City Shopping Center, SFU Surrey and Surrey Central Skytrain Station. This 1 bedroom unit is the perfect investment and it features quartz counter tops, laminate flooring, and a wonderful view of the city parks. Call today for your private viewing! Open House cancel on Sunday. (id:48205)

1 Bedroom 1 Bathroom 631 sqft
For sale
$449,000
105 10082 148 STREET, surrey, British Columbia

105 10082 148 Street

Surrey, British Columbia

Welcome to The Stanley. Excellent central location with transit close by. This one bedroom and den has a comfortable layout with a large living /dining area and fireplace. Lovely balcony to relax /BBQ on. Situated on a peaceful corner away from the road. The primary bedroom has good closet space plus a full ensuite. Second bath has full shower as well. The complex offers every activity desired!! Gyms, pools, sauna, hot tub, and tennis courts. If you prefer walking trails, Green Timbers Urban Forest is right there. Walkable to Guildford Mall with all the shops and restaurants. One parking and One locker. Also a secure bike room. (id:48205)

1 Bedroom 2 Bathroom 881
For sale
$448,888
W203 13838 108 AVENUE, surrey, British Columbia

W203 13838 108 Avenue

Surrey, British Columbia

ASSIGNMENT OF CONTRACT. WELCOME TO RADLEY. Opportunity to own this beautiful designed 6 level building which included great amenities like outdoor courtyards equipped with BBQ and lounge seating, entertainment rooms, fireside lounge with kitchen, co-work space, fitness and yoga studio. A spacious 506 sqft 2nd floor unit and 63sqft balcony. Minutes to surrey city hall, Rec centre, SFU Surrey and the future UBC Surrey Campus, Walk to Gateway Skytrain, schools, parks, restaurants and more. Estimated Completion in Summer 2024. Give me a call today for more info. (id:48205)

1 Bedroom 1 Bathroom 504 sqft
For sale
$448,000
3511 13750 100 AVENUE, surrey, British Columbia

3511 13750 100 Avenue

Surrey, British Columbia

Discover the epitome of modern living at Concord Pacific's Park Avenue East with this chic Jr. 1 bed boasting stunning north-facing views from Vancouver to Golden Ears. The sleek kitchen features high-end stainless steel appliances, a Blomberg gas stove, and elegant quartz counters with a marble backsplash while floor-to-ceiling windows flood the home with natural light. Enjoy entertaining on the patio and take advantage of the building's full amenities which include a theatre, gym, pool, hot tub, sauna, cabanas, amenities room and more! With quick access to Walmart, T&T, Surrey Central Mall, schools, recreation, and much more! This home also includes 1 parking spot and 1 storage locker. Don't miss out on this incredible opportunity - call now to schedule a viewing! (id:48205)

1 Bedroom 1 Bathroom 462 sqft
For sale
$448,000
105 13931 FRASER HIGHWAY, surrey, British Columbia

105 13931 Fraser Highway

Surrey, British Columbia

Welcome to Verve by PORTE Developments. one of the best located buildings in Surrey! Situated just off Fraser HWY & just a short walk to King George Hub & Skytrain Station, this 1 bed home is perfect for investors, first time home-buyers & commuters looking for convenience. Located at the rear of the building, the unit comes with a large patio & rear lane access - perfect for those with dogs! Inside appliances & soft-close cabinetry. You also have a built-in desk, large living room and sliders to the bedroom complete with lots of closet space too! Amenities include a gym w/ lots of equipment, lounge/party room & a guest suite. Rentals & Pets are OK! http://tours.jovirealty.com/?a=kera108 (id:48205)

1 Bedroom 1 Bathroom 553 sqft
For sale
$445,900
309 13728 108TH AVENUE, surrey, British Columbia

309 13728 108th Avenue

Surrey, British Columbia

Welcome to this beautiful 3rd floor corner unit at Quattro 3 built by Tien Sher! A quiet unit with a Juilette balcony overlooking the courtyard. Very central location - walk to Nester's Market, SkyTrain, & all of Surrey City amenities and shopping. Fully equipped gym in building. Suite offers 9ft ceiling, s/s Whirpool appliances, granite c/tops and Samsung washer/dryer. One parking & one storage included. (id:48205)

1 Bedroom 1 Bathroom 569 sqft
For sale
$440,000
1406 9675 KING GEORGE BOULEVARD, surrey, British Columbia

1406 9675 King George Boulevard

Surrey, British Columbia

Incredible assignment opportunity in Surrey Central! Live steps from Surrey Memorial Hospital, Holland Park, SFU, and Central City Shopping Centre. Enjoy easy access to King George SkyTrain Station for a quick commute to Downtown Vancouver in just 35 minutes. This modern studio home features 8'6" ceilings, air conditioning, and premium Fulgor Milano stainless-steel appliances. INCLUDES (1) parking spot and (1) storage locker! Amenities include: 24 hour concierge, Sky Lounge, fitness studios, social lounges, work space and kids play area and onsite daycare centre - there is something for everyone. Enjoy the urban lifestyle Surrey City Centre has to offer with shops, services and restaurants right at your doorstep. Don't miss out on this perfect blend of convenience and comfort! (id:48205)

1 Bathroom 488 sqft
For sale
$440,000
306 18811 72 AVENUE, surrey, British Columbia

306 18811 72 Avenue

Surrey, British Columbia

Attention INVESTORS and FIRST-TIME HOME BUYERS! Welcome to The Corners - this modern 1 BEDROOM, 1 Bath unit boasts contemporary finishes such as sleek quartz countertops and stylish ceramic tile backsplash. Stay cool with AIR CONDITIONING and enjoy the convenience of 1 PARKING STALL and a STORAGE LOCKER. The OPEN CONCEPT layout connects the kitchen, dining, and living areas seamlessly, featuring a spacious BEDROOM, 4-PIECE bathroom, and IN-SUITE LAUNDRY. PRIME LOCATION just steps from shops, Community Centre, school, Hwy #1 & transit (and the upcoming SkyTrain). Enjoy top-notch AMENITIES like a social CLUBHOUSE with 12,000 sqft+ of indoor/outdoor space, FITNESS center, GUEST SUITE, business center, kids playroom, lounge, work area, gourmet kitchen, and billiard room. Open House Sun 2-4 6/2 (id:48205)

1 Bedroom 1 Bathroom 469 sqft
For sale
$440,000
415 12083 92A AVENUE, surrey, British Columbia

415 12083 92a Avenue

Surrey, British Columbia

First-time buyers, investors, and downsizers, this bright and spacious 1-bedroom condo is exactly what you've been looking for! Freshly painted with stainless steel appliances and laminate flooring throughout, this upper unit offers both safety and mountain views. Enjoy evening sunsets on your west-facing balcony or cuddle up in front of your gas fireplace on chilly nights. This pet-friendly building features a gym and guest suite. Additional perks include in-suite laundry, 1 parking stall, and 1 storage locker. Conveniently located steps from shopping, numerous restaurants, schools, and transit, this location cannot be beat! (id:48205)

1 Bedroom 1 Bathroom 688 sqft
For sale
$439,900
308 9946 151 STREET, surrey, British Columbia

308 9946 151 Street

Surrey, British Columbia

Price Reduced! Perfect location! Top floor with mountain view. Johnson Height Secondary is just across the street. Mins walk to Guildford Mall, T&T, Restaurants, Library, Aquatic Center. Close to all levels of school including Montessori. Transit at the door. Quick access to Hwy #1. 1 parking. 1 storage locker. Great for first time home buyer. Don't miss it! (id:48205)

1 Bedroom 1 Bathroom 781 sqft
For sale
$439,900
2104 13819 100 AVENUE, surrey, British Columbia

2104 13819 100 Avenue

Surrey, British Columbia

INVESTORS OPPORTUNITY! This renovated, 704 sq ft, 1 bedroom in impeccable condition is ready to move in. Enjoy the open concept living with a great kitchen, large bedroom, beautiful bathroom, private patio, underground secure parking, and private storage locker. Strata fees include hot water heat and building caretaker. Perfectly located just 1 block from King George skytrain station, tons of shopping nearby, and all that Central Surrey has to offer at your doorstep. Resolution was approved for the strata corporation to entertain offers from developers. Excellent value! (id:48205)

1 Bedroom 1 Bathroom 704 sqft
For sale
$439,900
413 13969 96 AVENUE, surrey, British Columbia

413 13969 96 Avenue

Surrey, British Columbia

Surrounded by nature, live at the sold out newly completed Oak and Onyx presale - ideally located just 5min to the future 140 St SkyTrain station, SMH and a 20min walk to the lush Green Timbers Park. Boasting large windows facing the inner quiet courtyard, overheight ceilings, and spacious interior. Chef inspired kitchen featuring elegant quartz kitchen countertops and backsplash, counter seating, two-toned cabinetry and s/s appliances. Unwind in indoor-outdoor amenity spaces including an outdoor courtyard for BBQ/dining, host gatherings in the party room offering a comfortable lounge and communal kitchen. Includes 1 parking, 1 bike stall. Call for a private viewing today! (id:48205)

1 Bedroom 1 Bathroom 519 sqft
For sale
$439,900
211 10777 UNIVERSITY DRIVE, surrey, British Columbia

211 10777 University Drive

Surrey, British Columbia

Welcome to convenience and comfort in the heart of Surrey! This delightful 1 bed, 1 bath condo offers a perfect blend of urban living and tranquility. Just a stone's throw away from Gateway Skytrain Station, commuting has never been easier. With all levels of schools within a 1.5 km radius, this location is a dream for families seeking accessibility and education options. Step inside to discover a spacious and immaculately clean living space, boasting 553 sq ft of well-designed layout. Whether you're a first-time buyer, downsizer, or savvy investor, this condo offers a fantastic opportunity to embrace the Surrey lifestyle. Don't miss out on this gem contact me today to schedule your viewing. OPEN HOUSE JUNE 2ND 2-4PM (id:48205)

1 Bedroom 1 Bathroom 553 sqft
For sale
$439,890
W310 10828 139A STREET, surrey, British Columbia

W310 10828 139a Street

Surrey, British Columbia

Attn: First time buyer & Investor. Welcome to this 1 bedroom SOUTH facing unit with tons of NATURAL LIGHT. 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 SkyTrain Station! Enjoy this LUXURIOUS 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 laminate flooring throughout, ample 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. WILL NOT LAST! (id:48205)

1 Bedroom 1 Bathroom 542
For sale
$439,000
109 9979 140 STREET, surrey, British Columbia

109 9979 140 Street

Surrey, British Columbia

This move-in-ready & well-maintained ground floor unit offers the perfect balance of convenience & serenity. Step into a seamlessly flowing living area with a gas fireplace, a 200 sqft private walk-out patio & recent upgrades including new appliances, vinyl flooring, light fixtures, crown molding & a renovated bathroom with a walk-through closet to the ensuite. With in-suite laundry, ample storage & a spacious bedroom, comfort is assured. Benefit from low monthly fees covering hot water & gas, as well as storage & parking. Rentals are allowed & pets are welcome. Its unbeatable location just steps from the King George Skytrain Station, SFU, KPU, Central City Mall & Surrey Memorial Hospital ensures every urban convenience is within reach. Don't miss this exceptional opportunity! (id:48205)

1 Bedroom 1 Bathroom 668 sqft
For sale
$439,000
334 9979 140 STREET, surrey, British Columbia

334 9979 140 Street

Surrey, British Columbia

This unit is in Sherwood Green. It was completely renovated approx. 2013 - the previous owner had done partial upgrades with a new stove, blinds and UV film on the windows. The kitchen has a back splash and tiles. The cupboards are built in. There is hardwood in the living room and closet organizer. This unit is close to the Skytrain and Surrey Place Mall. Green Timbers park is opposite the complex. Pets with restrictions allowed and rentals allowed. OPEN HOUSE JUNE22, SATURDAY, 2-4PM. (id:48205)

1 Bedroom 1 Bathroom 650 sqft
For sale
$439,000
E208 10828 139A AVENUE, surrey, British Columbia

E208 10828 139a Avenue

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 488
For sale
$438,900
E307 10828 139A STREET, surrey, British Columbia

E307 10828 139a Street

Surrey, British Columbia

Viktor is a modern 6-story building with a European feel and tons of natural light. Situated in Surrey City Centre, it's just minutes from the future skytrain on 140 ST. This 1-bedroom, 1-bathroom unit features tall ceilings, quartz countertops, and a luxurious bathroom. With spacious balconies and a landscaped courtyard, it's easy to enjoy life here. Close to cafes, shops, parks, and transit, Viktor offers a balanced lifestyle. Assignment of Contract. Expected to be completed in July/August 2024. Also, get a $4000 decorating allowance upon completion and one parking spot included. (id:48205)

1 Bedroom 1 Bathroom 473
For sale
$438,888
331 9979 140 STREET, surrey, British Columbia

331 9979 140 Street

Surrey, British Columbia

Experience the perfect blend of comfort and convenience in this 1-bdrm, 1-bath condo in sought-after Sherwood Green! This fantastic upper-level unit has been meticulously maintained with brand new flooring & baseboards throughout, overlooking the lush central courtyard on the quiet side of the building. Featuring an all-white kitchen with a large pass-through window, a generously sized dining area, and a large living room with a cozy gas fireplace (included in the monthly fee). The spacious primary bedroom overlooks a private balcony and greenery, with double closets and a cheater ensuite. Enjoy low monthly fees and a newer roof. Prime location just minutes from the Skytrain, SFU, Jim Pattison Hospital, shopping, and Green Timbers Park. Don't miss out on this fantastic opportunity! (id:48205)

1 Bedroom 1 Bathroom 648 sqft
For sale
$438,000
1506 9675 KING GEORGE BOULEVARD, surrey, British Columbia

1506 9675 King George Boulevard

Surrey, British Columbia

Welcome to The Belvedere - your new home. You are steps away from Surrey Memorial Hospital, Holland Park, Simon Fraser University, the future UBC campus, & Central City Shopping Centre. Floor-to-ceiling windows & 8'6 ceilings in the living area create an inviting and bright atmosphere while offering stunning views of the surrounding area. Features include stainless steel Fulgor Milano appliances, quartz countertops, individually controlled air-conditioning & heating, a spacious balcony & one parking spot, and one storage locker.  Satisfy your taste buds with an array of nearby shops and restaurants, adding variety and spice to your life. King George Skytrain & future expansion to Langley is steps away. Completion summer of 2024. Don't miss out on the opportunity to call this place home. (id:48205)

1 Bedroom 1 Bathroom 488 sqft
For sale
$438,000
301 13768 108 AVENUE, surrey, British Columbia

301 13768 108 Avenue

Surrey, British Columbia

Welcome to our newest listing! This cozy, spacious home offers convenience and comfort in a booming area. Situated on the middle level and close to the elevator, every detail has been thoughtfully arranged for your convenience. Enjoy a vibrant community atmosphere with amenities like a gym, rooftop garden, and lounge party room right at your fingertips. Plus, with easy access to public transportation including walking distance to the skytrain and a bus stop right outside, exploring the bustling city is a breeze. With ample storage space and parking close to the elevator, don't miss out on the opportunity to call this welcoming abode your own! (id:48205)

1 Bedroom 1 Bathroom 522 sqft
For sale
$435,000
216 9979 140 STREET, surrey, British Columbia

216 9979 140 Street

Surrey, British Columbia

Centrally located 1BR 1BTH North Surrey condo. Beautiful courtyard & landscaped greenspace welcome you to this tranquil complex while warm neutral colours & rich laminate floors flow throughout this inviting & functional space. Cooking is a delight in your bright kitchen with ample prep space further illuminated by a handy pass through window. Sizable & naturally well-lit master bedroom overlooks your private balcony & offers double closets leading to a cheater ensuite with in suite laundry. Storage locker conveniently situated on same floor next to elevator. Ideal for first time home buyers, students, commuters & downsizers, Sherwood Green is steps to King George Skytrain Station, SFU Surrey Campus, KPU, Central City Mall, Surrey Memorial Hospital & every imaginable urban convenience. (id:48205)

1 Bedroom 1 Bathroom 640 sqft
For sale
$435,000
604 10899 UNIVERSITY DRIVE, surrey, British Columbia

604 10899 University Drive

Surrey, British Columbia

Great Location Across from the Skytrain Station. Don't miss out on this well-maintained, beautiful 1-bedroom apartment with North-West balcony views. Close to everything you need, this solid concrete building offers a convenient open-concept layout. Call now to schedule a private viewing before it's gone! Showing by Appointment. (id:48205)

1 Bedroom 1 Bathroom 546 sqft
For sale
$435,000
803 10777 UNIVERSITY DRIVE, surrey, British Columbia

803 10777 University Drive

Surrey, British Columbia

Investor Alert! Welcome to CITY POINT concrete high rise in the heart of Surrey. South East corner unit with view. Great location, close to SFU Surrey campus, and Central City Mall. Right across from Gateway Skytrain Station. Resort like amenities include club house, deluxe fitness center, billiard/media room. 1 secure underground parking and 1 storage. Perfect for the first time buyers and investors. Fully renovation includes fresh wall paint,New laminate flooring Great opportunity, wont last long! (id:48205)

1 Bedroom 1 Bathroom 570 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