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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
$789,500
432 9456 134 STREET, surrey, British Columbia

432 9456 134 Street

Surrey, British Columbia

"Welcome to Quinn Homes by Porte! This spacious corner unit on the fourth floor offers the perfect blend of convenience and comfort. Enjoy stunning views from the wrapped-around patio, ideal for relaxing or entertaining. With 3 bedrooms and 2 baths, it's perfect for families or professionals. Located next to the upcoming UBC campus, this home is a stone's throw away from schools, Skytrain, hospitals, and malls. Plus, indulge in luxury amenities including a social lounge, games room, fitness centre, courtyard with BBQ, and fire pit. With one parking stall and bike storage locker included, convenience meets lifestyle in this vibrant community. Don't miss out on this prime opportunity!" (id:48205)

3 Bedroom 2 Bathroom 957
For sale
$739,900
507 13458 95 AVENUE, surrey, British Columbia

507 13458 95 Avenue

Surrey, British Columbia

Your search for Home Ends with this Spacious, Corner 2 Bed/2 Bath located just South of Surrey Central, Galilea is minutes away from city's shopping, entertainment, universities, and parks. A quiet residential neighborhood with central city vibes is right outside your door at Galilea, giving you the best of both worlds in this dynamic community. Homes created with you in mind, kitchens at Galilea are designed with impressive quartz stone countertops, crisp backsplashes, polished chrome fixtures, and stainless steel appliances coming together to create a stylish foot ceilings, extra wide windows, as well as modern and textured laminate throughout. This home is located in park heaven, with 4 parks and a long list of recreation facilities within a 20 minute walk from this address. (id:48205)

2 Bedroom 2 Bathroom 802
For sale
$699,900
622 9456 134 STREET, surrey, British Columbia

622 9456 134 Street

Surrey, British Columbia

Location! Location! Location! Centrally located Quinn Complex by Porte Homes is steps away to both level of Schools, Sky Train Station, Surrey Memorial Hospital, and Surrey Central Mall. Interior Design by award winnig Portico features spacious and illuminated living and kitchen (Quartz Countertop & Island with breakfast bar for extra seating) with ample storage, closet space and large oversized windows. With total area of 905-929 sq.ft, the unit has a very functional contemporary layout that includes 2 bedrooms with a decent size Den, 2 full bathrooms and 1 Parkings & 1 bike locker included in the price. Additional parking can be bought. Anticipated completion - Summer of 2024. Unlock Your Dream Home with just a 10% deposit now! Seize the opportunity now to secure your new home. (id:48205)

2 Bedroom 2 Bathroom 785
For sale
$699,900
221 9456 134 STREET, surrey, British Columbia

221 9456 134 Street

Surrey, British Columbia

Welcome to Quinn, an expertly designed community by award winning developer Porte Homes and interior design by Portico. This large 2 Bed 2 Bath plus den offers a breathable living space, separated bedrooms, walk through closet in the primary, a large den perfect for a home office or pantry, and a flowing kitchen-dining-living space. Enjoy high ceilings, expansive windows, full-size SS appliances, a pantry wall, kitchen island, and more. Close proximity to Skytrain, schools, shops, services, and restaurants, and dozens of career and life opportunities in the heart of Central City. Estimated Completion Dec 2024 - Feb 2025. (id:48205)

2 Bedroom 2 Bathroom 879
For sale
$699,900
407 13458 95 AVENUE, surrey, British Columbia

407 13458 95 Avenue

Surrey, British Columbia

Your search for Home Ends with this Spacious, Corner 2 Bed/2 Bath Located just South of Surrey Central, Galilea is minutes away from the city's shopping, entertainment, universities, and parks. A quiet residential neighborhood with central city vibes is right outside your door at Galilea, giving you the best of both worlds in this dynamic community. Homes created with you in mind, kitchens at Galilea are designed with impressive quartz stone countertops, crisp backsplashes, polished chrome fixtures, and stainless steel appliances coming together to create a stylish foot ceilings, extra wide windows, as well as modern and textured laminate throughout. This home is located in park heaven, with 4 parks and a long list of recreation facilities within a 20 minute walk from this address. (id:48205)

2 Bedroom 2 Bathroom 802
For sale
$694,000
318 13968 S LAUREL DRIVE, surrey, British Columbia

318 13968 S Laurel Drive

Surrey, British Columbia

Welcome to Oak and Onyx. Located just steps away from the future 140th street skytrain stations and 2 blocks away from the hospital. 2 bedroom+ Den 894 sq ft 3rd Floor unit. Great location Close to surrey downtown Live in the heart of Surrey City Centre and enjoy the convenience of all it has to offer. The future 140 St SkyTrain Station is within walking distance. Completion estimated for March to May 2024. 1 Parking stall, 1 Storage Lockers & $7000 credit upon completion. Do not miss out on this great opportunity. (id:48205)

2 Bedroom 2 Bathroom 894
For sale Open House
$678,800
B220 20834 80 AVENUE, langley, British Columbia

B220 20834 80 Avenue

Langley, British Columbia

Alexandra Square by award-winning developer, RDG, is conveniently located in the thriving Willoughby neighbourhood across from the Town Centre. This 2 bed 2 bath unit features a modern style with an efficient plan that lets you live in a functional space, with bright and airy open layouts. Nearby Shopping mall, Recreation Centres, School. Quick and easy access to public transit and Highway 1, Fraser Highway. Meet neighbours and friends in the landscaped courtyard or entertain guests on your common rooftop patio or the entertainment lounge with a full kitchen. (id:48205)

2 Bedroom 2 Bathroom 738
For sale
$649,999
B117 20834 80 AVENUE, langley, British Columbia

B117 20834 80 Avenue

Langley, British Columbia

Garden Level 2 beds/2baths condo in phase 2 of Alexander Square. This development is built by one of the best developers, RDG Development. Amazing floor plan with 9' ceiling, Modern color scheme, Stainless steel appliances, pot lights in kitchen, pendant lights over island/eating bar, undermount cabinet task lighting. Interior amenities including fitness room and entertainment lounge. Exterior amenities are roof deck with BBQ facilities and outdoor seating, Courtyard with fire pits and Community garden pots. Very convenient location across from Willoughby Town Centre. Just steps to all shops and services, quick and easy access to public transit and commuter routes including Highway One, Fraser Highway, and Highway 10. (id:48205)

2 Bedroom 2 Bathroom 738
For sale
$625,000
309 9299 121 STREET, surrey, British Columbia

309 9299 121 Street

Surrey, British Columbia

Welcome to Huntington Gate! Top floor unit with more than 1200 sq ft of useful living space. 2 bedrooms and 2 full bathrooms (and 2 parking). Property has been meticulously cared for over the years where the property feels newly renovated. Laminate floors in main living areas with carpet in bedrooms. Stainless steel appliances in the kitchen with tiled flooring, skylight and walk-in pantry. Primary bedroom with face to face closets with oak and glass sliding doors and a beautifully updated ensuite bathroom including granite vanity and slate tiles. Also featuring a northern view w/mountains on 115 sqft balcony. Great location; with nearby groceries and shopping, and easy access to Hwy 1 via Hwy 17 and Alex Fraser Bridge, transit a block away with 5 min commute to Scott Road Stn. (id:48205)

2 Bedroom 2 Bathroom 1243
For sale Open House
$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
For sale
$594,000
219 12083 92A AVENUE, surrey, British Columbia

219 12083 92a Avenue

Surrey, British Columbia

Location Location Location! Walking distance to shopping, transit, close to restaurant and gas station. This home features 2 spacious bedrooms with 2 full bathrooms, spacious living room with fireplace, laminate flooring, beautiful kitchen with large breakfast bar, open concept floor plans, cozy fireplace, oversized windows to enjoy the view/fresh air. Very well kept house and building. Close to both High and Elementary school. Big private fenced yard for the kids to play or for the elders to enjoy their time in nature. Must see! (id:48205)

2 Bedroom 2 Bathroom 846
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
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
$549,900
413 13501 96 AVENUE, surrey, British Columbia

413 13501 96 Avenue

Surrey, British Columbia

This charming unit boasts a prime location, mere steps from King George skytrain, Surrey Memorial Hospital, SFU & Surrey Central Mall, yet still offers the serene sounds of birds chirping & the occasional squirrel sighting by the dining room window. Positioned on the top corner with a southeast facing orientation, this 2-bdrm unit enjoys a delightful cross breeze. The customized kitchen features a skylight, flooding the space with natural daylight, along with quartz countertops & a reverse osmosis water system. Cozy up beside the heavy-duty fireplace for added warmth & ambiance. The well-maintained building is enveloped by mature trees & greenery, ensuring a tranquil atmosphere. With low deductibles on insurance & a healthy contingency reserve fund, peace of mind is guaranteed. (id:48205)

2 Bedroom 1 Bathroom 1000
For sale
$549,900
410 13458 95TH AVENUE, surrey, British Columbia

410 13458 95th Avenue

Surrey, British Columbia

Attention first time home buyers! Located south of Surrey Central, this location offers convenient access to the city's amenities, such as shopping, entertainment, universities, and parks. Galilea offers residents a tranquil residential environment, blending urban convenience with suburban peace. The unit features meticulously designed kitchens with refined quartz stone countertops, stylish backsplashes, polished chrome fixtures, and stainless steel appliances, ensuring a perfect balance of aesthetics and practicality. With its high ceilings, extra-wide windows, and contemporary textured laminate flooring, Galilea provides a modern living experience. Additionally, its proximity to the SkyTrain facilitates easy commuting and exploration of nearby areas. Not enough down payment? No problem, you may still own this. Call now. (id:48205)

1 Bedroom 1 Bathroom 549
For sale
$548,888
522 9456 134 STREET, surrey, British Columbia

522 9456 134 Street

Surrey, British Columbia

Life at Quinn is fast or slow, quiet or vibrant. In this residential pocket close to Surrey's City Centre. This one bedroom + den condos by Porte Homes keep life open to possibilities. Full size stainless steel appliance (Samsung). 8'10' ceiling height with large oversized windows. Center location in the heart of Surrey Centre with walkable distance to transit, Surrey Memorial Hospital, Parks, Shopping district and many restaurant. A perfect investment or home for new home buyers! (id:48205)

1 Bedroom 1 Bathroom 684
For sale
$539,900
207 9278 120 STREET, surrey, British Columbia

207 9278 120 Street

Surrey, British Columbia

Experience urban living in this fully renovated 2 bedroom, 2 bathroom condo, meticulously reconstructed from the studs up in 2023. Nestled within a solid concrete building and boasting airy 9-foot ceilings and a brand-new interior without a trace of carpet. Enjoy the convenience of in-suite laundry and the luxury of two covered parking spots, all with the benefit of low strata fees, a mere $190 per month. With ground floor entry from a quiet residential street, embrace the high walk score of 87 allowing easy access to amenities including shopping, restaurants, healthcare, schools, and more. With the R6 Scott Road RapidBus to SkyTrain and Newton Exchange, this property offers the opportunity to live conveniently on the Surrey/Delta border. Don't miss out-schedule your appointment today! (id:48205)

2 Bedroom 2 Bathroom 776
For sale
$528,000
523 9456 134 STREET, surrey, British Columbia

523 9456 134 Street

Surrey, British Columbia

LARGE 1 + Extra large den 719 sf home + 92 sf patio. Welcome to QUINN by Porte Homes. QUIET SIDE OF THE BUILDING. 1 Bedroom + Den & 1 bathroom offers open concept living, PERFECT LAYOUT W/ lots of windows. B15 floor plan. Comes with 1 parking, 1 bike locker, patio with views of the Queen Elizabeth Meadows Park. Located near Surrey City Center and steps to Queen Elizabeth Secondary, Surrey Memorial Hospital, Sky Train and Shopping district. Perfect for first time home buyers and investors. This development is located West of Queen Elizabeth high school. Reputable builder. Completion December 1, 2024 and February 28, 2025. NO ONE IS ABOVE THIS UNIT (it's the outdoor amenity space) (id:48205)

1 Bedroom 1 Bathroom 719
For sale
$525,000
312 13458 95 AVENUE, surrey, British Columbia

312 13458 95 Avenue

Surrey, British Columbia

Designed with distinctive style, this 1 bed 1 bath unit at Galilea comes with 1 Parking and 1 Storage Locker and a fitness centre within the building! Located just South of Surrey Central, Galilea is minutes away from the city's shopping, entertainment, universities, and parks. A quiet residential neighborhood with central city vibes is right outside your door at Galilea, giving you the best of both worlds in this dynamic community. Homes created with you in mind, kitchens at Galilea are designed with impressive quartz stone countertops, crisp backsplashes, polished chrome fixtures, and stainless steel appliances coming together to create a stylish foot ceilings, extra wide windows, as well as modern and textured laminate throughout. (id:48205)

1 Bedroom 1 Bathroom 547
For sale
$518,000
618 9456 134 STREET, surrey, British Columbia

618 9456 134 Street

Surrey, British Columbia

Welcome to Quinn by Porte, centrally located in Surrey's bustling City Centre. This generously proportioned residence boasts a functional floorplan of 588 sqft, featuring a spacious one-bedroom plus den layout, alongside a sizable 81 sqft patio facing north. The contemporary kitchen showcases full-size stainless steel appliances from Samsung, while the residence enjoys ample natural light through its 8'10 high ceilings and expansive windows. Additional comfort is provided by radiant floor heating. Conveniently within walking distance to transit, schools, Surrey Memorial Hospital, parks, and shopping centers. Quinn offers an ideal living experience for both renters and new homeowners. Completion is between December 2024 and February 2025. One Ev Parking space and One bike storage locker. (id:48205)

1 Bedroom 1 Bathroom 588
For sale
$515,000
228 9456 134 STREET, surrey, British Columbia

228 9456 134 Street

Surrey, British Columbia

South facing corner 1 bed + den home in SOLD OUT Quinn development by Porte Homes! Open concept floorplan with L-shaped kitchen and island. Private 75sf balcony facing courtyard perfect for BBQ and morning coffee. Great location with Queen Elizabeth Meadows Park right across the street and near transit, schools, shops, services, restaurants, and Surrey Memorial Hospital. Rentals and pet friendly. Comes with 1 parking and 1 locker. You don't want to miss this opportunity! (id:48205)

1 Bedroom 1 Bathroom 624
For sale
$515,000
413 9456 134 STREET, surrey, British Columbia

413 9456 134 Street

Surrey, British Columbia

Welcome to Quinn by Porte. Spacious 1 bedroom PLUS den 652 SF Plan B5. Home boosts 8'10 ceiling height, large oversized windows for lots of natural light, faux wood blinds, modern soft close cabinetry, quartz countertops, stainless steel appliances, front loading washer, dryer. Unit includes 1 parking stall and 1 bike storage. Amenities include fitness centre, games room, boardroom, car wash stall, play area, garden plots & courtyard BBQ/fire pit. (id:48205)

1 Bedroom 1 Bathroom 652
For sale
$508,800
313 9456 134 STREET, surrey, British Columbia

313 9456 134 Street

Surrey, British Columbia

Welcome to Quinn! This east facing 3 rd floor one bed + den is being built (Presale) by the well known developer Porte. Located in a peaceful neighborhood but also close to everything like Skytrain Station, Bus stop, Surrey Memorial Hospital, Surrey Centre Mall, McDonalds, Tim Hortons and on and on. New UBC campus will be steps away. Completion will be in late Summer 2024. HEATING is included in Strata fee. Rental and pet friendly. Including one parking and one bike locker. Ideal for investor or first time buyers. (id:48205)

1 Bedroom 1 Bathroom 652
For sale
$508,000
430 9456 134 STREET, surrey, British Columbia

430 9456 134 Street

Surrey, British Columbia

Welcome to Quinn by Porte. In the heart of Surrey's City Centre. Spacious 498 sqft one bedroom functional floorplan plus 61 sqft patio. Open concept kitchen with Full size stainless steel appliance (Samsung). 8'10 High ceiling with large oversized windows. Radiant floor heating provides extra comfort. walkable distance to transit, schools, universities, Surrey Memorial Hospital, Parks, Shopping district and many restaurants. A perfect home for rental or new home buyer. one parking one locker EST. COMPLETION 2024 Q4/2025 Q1 (id:48205)

1 Bedroom 1 Bathroom 498
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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