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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
$599,900
303 6815 188 STREET, surrey, British Columbia

303 6815 188 Street

Surrey, British Columbia

Welcome to Compass!! - Very sought after complex and rarely for sale. Conveniently located in Clayton Heights, just steps away from all the restaurants, shops & recreation you need! Original owner & meticulously maintained. This 2 bed, 2 bath end unit has large windows allow for lots of natural light in the unit. Living area features a cozy electric fireplace. stainless steel appliances, granite counter tops, in-suite laundry and storage. Huge patio spacious covered sundeck for entertaining. This strata includes an amenity building with a lounge/party room for its residents use. Unit comes w/ 1 underground parking stalls. Easy to show (id:48205)

2 Bedroom 2 Bathroom 793 sqft
For sale
$599,900
44 9273 122 STREET, surrey, British Columbia

44 9273 122 Street

Surrey, British Columbia

Kensington Gate . Secured complex in very central area. Close to transit on 92 and 96 Ave and all levels of schools less than 2 blocks. Close to shopping on Scott Road. Carriage style upper unit, townhome that is open and very bright and in great shape. There is a natural gas fireplace and laundry in the suite. Second large 12' x 9'6" bedroom needs wardrobe or closet. No more than 3 occupants due to Bylaw restriction. Well run strata with outdoor pool, hot tub, clubhouse. New roof in 2019. One open spot for parking. Two small pets allowed no larger than 14" at shoulders. (id:48205)

2 Bedroom 1 Bathroom 1261
For sale
$599,888
28 9400 128 STREET, surrey, British Columbia

28 9400 128 Street

Surrey, British Columbia

FIRST TIME HOME BUYER ALERT! BEST PRICED 3 BEDROOM TOWNHOUSE !!Great opportunity to own a Two storey 1168 sq. ft. TOWNHOME! Low Strata fee. Spacious rooms, lots of storage, fenced backyard, huge shed for storage and in-suite laundry. Central location, Very close to the Public Transport. Walking distance to school and Cedar Hills Shopping Centre. Ample visitor parking available. . Rear yard is fenced and private and also includes a well maintained shed. Open house Sat & Sun on June 8 & 9 from 2-4pm (id:48205)

3 Bedroom 2 Bathroom 1168 sqft
For sale
$599,888
104 6420 194 STREET, surrey, British Columbia

104 6420 194 Street

Surrey, British Columbia

Luxurious living at the Waterstone! This beautifully maintained garden level 2 bedroom, 1 bathroom PLUS den is move-in ready! This open concept home has stainless steel appliances & granite counter tops. Two well appointed bedrooms on opposite sides of the living room for added privacy. The master bedroom has a walk-in closet. Enjoy the evenings on your private patio. This home comes with 2 parking & 2 lockers. No need for a gym membership when you have 15000 square feet of amenities complete with a guest suite, indoor pool/hot tub, sauna, steam room, gym, lounge, games room, theatre room & a conference room. SHOWINGS BY APPOINTMENT. (id:48205)

2 Bedroom 1 Bathroom 899 sqft
For sale
$599,888
204 18755 68 AVENUE, surrey, British Columbia

204 18755 68 Avenue

Surrey, British Columbia

Introducing a charming 2-bedroom, 2-bathroom corner suite with an oversized covered patio located in the heart of Clayton Heights in the Compass building. With over 800 sq ft of living space, this condo offers in-suite laundry, stainless steel appliances & granite counter tops, access to a building clubhouse, and is conveniently situated near a variety of shopping outlets and amenities. You'll find Save on Foods, Starbucks, Shoppers Drug Mart, and numerous dining options just steps away. Don't miss out on the perfect blend of comfortable living and convenience. (id:48205)

2 Bedroom 2 Bathroom 813
For sale Open House
$599,000
106 15835 85 AVENUE, surrey, British Columbia

106 15835 85 Avenue

Surrey, British Columbia

Step into this exquisite and opulent ground floor corner garden unit nestled within Fleetwood Village which was built by Dawson & Sawyer. Offering 2 bedrooms + den and 2 full bathrooms, spacious living room and kitchen equipped with S/S appliances, this ground level gem is situated in a prime location. . Residents can indulge in amenities including daycare, a weight room, lounge, and study room. Conveniently located on the future sky train line, and within walking distance to local grocery stores and bus stops. (id:48205)

2 Bedroom 2 Bathroom 753 sqft
For sale Open House
$599,000
107 15110 108 AVENUE, surrey, British Columbia

107 15110 108 Avenue

Surrey, British Columbia

Welcome to this beautifully maintained first-floor condo, offering a lovely patio facing lush greenery, perfect for BBQs & a great space for your dog to enjoy. Freshly painted with newer appliances, this 2 bed, 2 bath unit is clean & inviting. The open floor plan & continuous laminate flooring create a bright & spacious living area. Access your patio through the open living room, providing ample outdoor space to relax & entertain. Conveniently located minutes from Hwy 1, with transit at your doorstep & Guildford Town Centre within walking distance. Enjoy amenities including gym, hot tub, and sauna. Rental-friendly & exceptionally pet-friendly. Riverpointe offers comfort, convenience & investment potential, making it an ideal choice for comfortable living with enhanced outdoor enjoyment. Open House, Sat, Jun 15, 2-4pm. (id:48205)

2 Bedroom 2 Bathroom 1022 sqft
For sale Open House
$599,000
103 14885 105 AVENUE, surrey, British Columbia

103 14885 105 Avenue

Surrey, British Columbia

Experience the Reviva! This inviting residence offers a spacious open layout with 2 bedrooms and 2 full bathrooms strategically separated by the living room for enhanced privacy. Enjoy the convenience of an open floor plan complemented by a practical built-in computer desk area, sleek stainless steel appliances, an electric fireplace, and a breakfast bar. Bask in sunny mornings on your serene north-facing patio surrounded by mature landscaping. Additional amenities include in-suite laundry, a security door lock and alarm system, and a storage locker. Conveniently located near Guildford Mall, a recreational center, library, transit options, Superstore, shops, and restaurants.New paint in 2023, All appliances were bought new and used in 2023 New lights 2023. Roof new 3 years ago (id:48205)

2 Bedroom 2 Bathroom 934 sqft
For sale Open House
$599,000
303 15140 108 AVENUE, surrey, British Columbia

303 15140 108 Avenue

Surrey, British Columbia

Welcome to the popular Riverpointe complex! Perfect for first-time homebuyers and investors. Well maintained complex includes upgrades to balconies (2009), Common area (2010), Roofs (2015) and Window trim & Flashings (2017), Soffits, Gutters & Downspouts (2009). Cleat and bright, top floor, 2 bedroom with the main bedroom overlooking a quiet courtyard. It is close to everything, minutes from Guildford Mall, T&T Market and Highway #1. Investors & pet friendly building with unrestricted rentals and two dogs of any size allowed! Very well maintained! Parking #32, locker #39. Open House Sat, June 15 between 1-3 pm (id:48205)

2 Bedroom 1 Bathroom 930 sqft
For sale
$599,000
503 8717 160 STREET, surrey, British Columbia

503 8717 160 Street

Surrey, British Columbia

Welcome to Vernazza & this well-kept 2 bed & 2 full bath, quiet Penthouse unit. A well-maintained building with 2 EV charging stations, big common hallways & good ventilation. Excellent floor plan with a open kitchen featuring full height upper cabinet, granite counter tops & a large island. Comfy living room with electric fireplace overlooking large balcony & private mountain view. Amazing Fleetwood location close to everything, Hwy 1, schools, shopping & restaurants. Plus walking distance to future Skytrain Station at Fraser Highway. Pets & rentals allowed. Open House Saturday June 9 2-4. (id:48205)

2 Bedroom 2 Bathroom 747 sqft
For sale
$599,000
23 18855 72 AVENUE, surrey, British Columbia

23 18855 72 Avenue

Surrey, British Columbia

Note the low strata fee with A/C featured unit. 1 storey on the ground floor stacked townhome unit. 2 bedroom + 1 bath. It features open concept and high ceilings. This home will be magazine worthy. Modern kitchen with quartz central island and latest stainless steel appliances, soft-closing cabinet. 2 parking spots included. Close to the Clayton Community Center and shops in Clayton. School catchment: Regent Road Elementary & Ecole Salish Secondary. (id:48205)

2 Bedroom 1 Bathroom 686 sqft
For sale
$597,900
303 9299 121 STREET, surrey, British Columbia

303 9299 121 Street

Surrey, British Columbia

This is the unit you have been waiting for. Top floor 2 bedroom, 2 bathroom meticulously cared for 1250 square foot condo at Huntington Gate. Beautifully updated with fresh paint, modern light fixtures, stainless steel kitchen appliances and more. This size and floorplan gives this unit the feeling of rancher living with large bedrooms, gas fireplace lots of windows letting in ample natural light and even large in suite storage. Enjoy your morning coffee on your covered balcony and the beautiful views of the North Shore Mountains. There are even 2 parking spaces! All of this is just 1 block from shopping and restaurants as well as easy access to transit, HWY 17, Alex Fraser and Patullo Bridges. Call today to book your private showing. (id:48205)

2 Bedroom 2 Bathroom 1247 sqft
For sale
$595,000
209 9942 151 STREET, surrey, British Columbia

209 9942 151 Street

Surrey, British Columbia

Attention all FIRST TIME HOME BUYERS. Nestled in the heart of Guildford this Bright & spacious 2 bedrooms, 2 baths. This meticulously maintained Condo offers unparalleled urban living. Very spacious living room with fireplace. With in-suite laundry & storage, 2 underground parking spots. Walk to Guildford shopping & recreation centre, schools. Very quite community family friendly neighborhood. Freshly painted living room and carpet in the living room replaced 2024. (id:48205)

2 Bedroom 2 Bathroom 955 sqft
For sale Open House
$590,000
50 10545 153 STREET, surrey, British Columbia

50 10545 153 Street

Surrey, British Columbia

Step into your dream home where affordable meets convenience in this SPACIOUS 2 storey + bsmt, 2 bed + den, 3 bath townhome. Those days of being crammed in a small apartment is OVER :). Whether you're looking to invest, upsize and start a family, give your kids more space as they grow up, or enjoy the summer patio life in your private back yard, this home could be your answer! Nestled in a family-oriented complex, this gem is merely minutes from Guildford Town Centre, offering shopping, dining, and entertainment like swimming pool, library, rec centre and even a movie theatre! Enjoy seamless connectivity with Highway 1 and the B-Line bus to Surrey Central SkyTrain. The complex also features an outdoor pool and two playgrounds, which I'm certain your family and children would love! Schedule your visit today to potentially own a 1500+ sqft 2 bed+den & 2 bath within close proximity to shopping, entertainment, highway, transit, schools, and more! (id:48205)

2 Bedroom 3 Bathroom 1509 sqft
For sale
$590,000
215 8183 121A STREET, surrey, British Columbia

215 8183 121a Street

Surrey, British Columbia

Renovated Surrey unit! It boasts 2 beds, 2 baths, and 947 sqft of space. Features a cozy living area, kitchen, and dining space. With maple cabinets, granite counters, the kitchen is perfect for entertaining. Enjoy ample natural light throughout. Plus, there are 2 spacious bedrooms with walk-in closets. You'll have plenty of parking options, including 2 underground spots. Nearby amenities include community center, malls, gyms, and bus transit. School catchments are Kennedy Trail Elem and LA Matheson Sec. Don't miss out on this! (id:48205)

2 Bedroom 2 Bathroom 947 sqft
For sale
$589,000
111 15835 85 AVENUE, surrey, British Columbia

111 15835 85 Avenue

Surrey, British Columbia

Townhouse-style ground level southeast facing Junior 2 bedroom Fleetwood Village I by Dawson Sawyer. Very well maintained. Spacious southeast yard, living, dining and master bedroom with covered balcony, walking in closet. L-shape kitchen, quartz countertops, stainless steel appliances, Samsung washer/dryer. A daycare center in the complex. Fleetwood Park Village shopping, Walnut Road Elementary, and the future Skytrain station. One parking and one storage included. Must see! (id:48205)

2 Bedroom 1 Bathroom 618 sqft
For sale
$589,000
102 10188 155 STREET, surrey, British Columbia

102 10188 155 Street

Surrey, British Columbia

Introducing a charming ground-level condo nestled on a serene Guilford street. This spacious 2-bedroom, 2-bathroom residence boasts a timeless floor plan, with bedrooms strategically positioned on either side of the living room for ultimate privacy and a seamless flow. Situated at garden level, enjoy direct access to a generous walkout patio overlooking a vast, tranquil green space - perfect for families and seniors alike. Discover the added convenience of a beautiful playground area with swings for children. Ideally located adjacent to Guilford Heights Park, grocery stores, and restaurants, with easy access to public transportation. Within walking distance to Harold Bishop Elementary School and Johnston Heights Secondary School. Featuring brand new kitchen appliances, as well as a washer (id:48205)

2 Bedroom 2 Bathroom 876 sqft
For sale Open House
$587,999
207 12083 92A AVENUE, surrey, British Columbia

207 12083 92a Avenue

Surrey, British Columbia

Welcome to this meticulously updated south-facing condo. It has 2 large bedrooms & 2 full bathrooms the open floor plan has large windows offering lots of natural light and space! Both the bedrooms are on the opposite side to maximize privacy. In-suite laundry with lots of storage. Updates include- stainless appliances, lighting, paint, flooring, kitchen and washroom etc. The Tamaran is located in the heart of diverse neighborhood Queen Mary Surrey bringing vibrant everyday living to your door with close day-to-day amenities such as transit, grocery stores, restaurants, shopping, schools & plenty of natural parks. It offers amenities such as a guest suite, bike room, exercise room and much more. (2 parking spots close to elevator & 1 storage locker) OPEN HOUSE SAT/SUN 1-3PM (id:48205)

2 Bedroom 2 Bathroom 982 sqft
For sale
$584,999
103 12083 92A AVENUE, surrey, British Columbia

103 12083 92a Avenue

Surrey, British Columbia

Prime Location in an Exceptional Building! This ground-level 2-bedroom, 2-bathroom unit showcases a luminous and expansive maple kitchen with abundant cabinet and countertop space. Enjoy the open ambiance with 9' ceilings in the living room, complemented by a cozy gas fireplace. Step outside to a partly covered patio, along with an additional grass area, fully fenced and featuring a gate for visitors. Benefit from the convenience of 1 parking spots and dedicated storage. Centrally situated, this property is in proximity to transit, schools, and shopping centers. The maintenance fee covers gas, hot water, and gym access. Residents can take advantage of amenities such as a recreation room, guest room, alarmed storage, and underground parking. Ample visitor parking is available on both (id:48205)

2 Bedroom 2 Bathroom 820 sqft
For sale
$579,000
101 15258 105 AVENUE, surrey, British Columbia

101 15258 105 Avenue

Surrey, British Columbia

Experience the fascinating lifestyle at Georgian Gardens in Guildford Town Center. This two-level corner unit features 2bed-2bath, 2 ground-floor patios and a gorgeous hardwood flooring upgrade both on main and above floors. Bright tiled-floor kitchen is surrounded with white cupboards, drawers, counter top and newer appliances. Its cozy living and dining area warms up on cold nights with its neat eco-friendly natural-gas fireplace. Just few steps away to the mall, recreation centre, library, transit and very accessible to the stunning travel-friendly Trans-Canada Hwy. Amazing location and extremely convenient for busy people. Must see! SOLD FIRM (id:48205)

2 Bedroom 2 Bathroom 904 sqft
For sale
$579,000
107 9940 151 STREET, surrey, British Columbia

107 9940 151 Street

Surrey, British Columbia

Welcome to the "Westchester Place" in the prestigious neighborhood of Guildford. The unit is one of the quietest units in the complex, 2 bedroom and 2 bath 1000 sqft "Ground level unit". Southern back yard with a gas fireplace, large kitchen with open layout. This fully renovated unit comes with spacious living room, separate dining room, in-suite laundry, laminate flooring, newer stainless steel appliances, storage room, secured underground 2 parkings, elevator access, wheelchair access, locker and club house. Walking distance to Guildford Mall, T&T, Schools, Public library, Recreation center. Very easy access to all major routes. You have everything you could ask for in this neighborhood. Book your showing now before it's too late!! (id:48205)

2 Bedroom 2 Bathroom 1000
For sale
$578,000
117 13507 96 AVENUE, surrey, British Columbia

117 13507 96 Avenue

Surrey, British Columbia

Live in convenience at PARKWOODS - Balsam in Whalley, where you are only a few minutes' walk to the King George Skytrain Station. Shop with ease at Central City Shopping Centre with Bed Bath & Beyond, Best Buy, Winners, T&T Supermarket, and Club 16 Trevor Linden Fitness. Walk to Save-On Foods, Canadian Tire, London Drugs, and Safeway. The North Surrey Recreation Centre, the Surrey Central Transit Loop, City Hall, the RCMP, Surrey Memorial Hospital, Schools and Universities. Well maintained building with 2 bedroom condo boasting over 1,000 sf of living space. Stunning features include spacious bedrooms, plenty of closet space and storage, gas fireplace, and north facing balcony with plenty of natural light. Large living area adjacent to dining room provide perfect space for entertaining. Must See! Call today for private showing. (id:48205)

2 Bedroom 1 Bathroom 1042
For sale Open House
$575,000
111 6815 188 STREET, surrey, British Columbia

111 6815 188 Street

Surrey, British Columbia

Compass in Clayton Stunning Garden CORNER unit that feels like its own little house! 2 bdrm (on opposite sides for ultimate privacy), 2 bath home with bright 9' ceilings. Additional windows, letting in lots of natural light and open floor plan. Fireplace in this unit !! Modern kitchen with eating bar w /quartz counters and S/S appliances. Generous master suite w/walkthrough closet to ensuite. No need to enter through the main door as this unit has its private outside gate and entrance leading into a fenced green grass/yard for your potted plants and flowers, with a covered patio for year-round enjoyment! Great for pets and/or children. Pet-friendly complex and rentals allowed. Secure underground parking. Walk to schools, parks, dog parks, grocery stores, and coffee shops. (id:48205)

2 Bedroom 2 Bathroom 793 sqft
For sale
$574,800
2100 10620 150 STREET, surrey, British Columbia

2100 10620 150 Street

Surrey, British Columbia

Welcome to Lincoln's Gate - Ground level townhouse unit features 2 bedrooms & 1 bath situated on the quiet corner of the complex. Renovated in recently. Clubhouse amenities include outdoor pool, hot tub, sauna & racquetball courts! Amazing central location - walking distance to Guildford Town Centre Mall, Guildford Rec/Aquatic Centre, shopping, library, T&T, restaurants and more. Easy Hwy #1 access, Port Mann Bridge and transit right outside. Feel secured in a gated community with no public roads through. 1 parking & 1 locker right outside. An ideal starter's home for first time homebuyers families & investors! Pets & Rentals allowed (see restrictions) & low strata fees. (id:48205)

2 Bedroom 2 Bathroom 1013 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