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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
$1,150,000
4105 9887 WHALLEY BOULEVARD, surrey, British Columbia

4105 9887 Whalley Boulevard

Surrey, British Columbia

Welcome to Penthouse 4105 at Park Blvd by Concord Pacific! Located in Surrey's most up and coming community! Enjoy breathtaking panoramic views from your spacious private patio featuring gas supply for heaters and BBQ-This feature is only available on the PH floor! This home features luxurious finishes throughout, including A/C, quartz countertops, marble tile backsplash, Kohler fixtures, premium upgraded appliances. Enjoy world class facilities right in your building including pool, steam room, sauna, badminton court, fitness centre, sports lounge, business centre and concierge. This luxurious home uniquely has 2 OVERSIZED Parking spots on P1 + FOUR storage lockers! This home is a 1 min walk to the Skytrain & just minutes from parks, entertainment, universities, and shopping. (id:48205)

2 Bedroom 2 Bathroom 1219
For sale
$1,038,000
1710 10448 UNIVERSITY DRIVE, surrey, British Columbia

1710 10448 University Drive

Surrey, British Columbia

"Check out this awesome corner 2 Bed 2 bath apartment with fantastic views! It's got a smart layout and offers about 879 square feet of living space. The bedrooms are really big, and the bathrooms are spacious too. The building has amazing amenities like a helpful concierge, a modern gym, meeting rooms, private study areas, lounges, a game room, event spaces, and even a heated pool! Plus, you'll love the panoramic views from the large windows, especially facing northwest. There's also a roomy balcony, perfect for entertaining or enjoying the sunset. It's super close to the SFU campus and the future UBC campus, as well as walking distance to Surrey Center Mall and public transit. Whether you're buying your first home or looking to invest, this place is a great opportunity. (id:48205)

2 Bedroom 2 Bathroom 879
For sale
$899,000
2405 13318 104 AVENUE, surrey, British Columbia

2405 13318 104 Avenue

Surrey, British Columbia

RARELY AVAIABLE! This rarely available SOUTHEAST facing 2 bedroom 2 bath units has units has functional layout, laminate flooring through out, wrap-around big balcony, and high ceiling. 5 stars AME offers over $14,000sf of indoor/ outdoor amenities; outdoor courtyard with a children's play area, rooftop patio, social area, two-level fitness facility, co-working space, indoor lounge, social kitchen, dining area, games and media room, parcel room, dog wash and run area. Steps to Skytrain station, SFU campus, KUP campus, library, city hall, shopping, restaurants and lot more. BONUS: AIR CONDITIONED BUILDING!!! (id:48205)

2 Bedroom 2 Bathroom 784
For sale
$870,000
W612 13858 108 AVENUE, surrey, British Columbia

W612 13858 108 Avenue

Surrey, British Columbia

Radley is an icon of confident & high contract design. Assignment of Contract Sale. Close to Skytrain station Estimated Completion is on 2024. Deposit will be 15%. GST is not included in the Sale Price. Actual 3 bedroom unit on the top floor. (id:48205)

4 Bedroom 1 Bathroom 899
For sale
$849,900
2402 9675 KING GEORGE BOULEVARD, surrey, British Columbia

2402 9675 King George Boulevard

Surrey, British Columbia

Belvedere (Move-In Ready Mid-Summer 2024): This is a Developer Holdback with VIP *PRIORITY PERKS. This is a corner-unit high-floor 2 Bedroom 2 Bathroom unit with a sizeable 230 sq ft balcony. Amazing investment or live-in opportunity, with the future UBC Surrey campus, SMH and King George SkyTrain right outside your doorstep! Minutes to Holland Park, Central City Mall, restaurants and services. *VIP PRIORITY = Contact Agent to know more! (id:48205)

2 Bedroom 2 Bathroom 856
For sale
$849,000
E510 13858 108 AVENUE, surrey, British Columbia

E510 13858 108 Avenue

Surrey, British Columbia

Assignment of Contract Sale for this Elegant Brand new big modern home( 868 SF Interior & 166-240 SF Exterior) with 2 bedroom + 2 Washrooms,1 Parking, Storage and with large Size balcony, it is perfect for family! Currently under construction and Estimated Completion Fall 2024. RADLEY is an icon of confident, high contrast design, evolving Surrey city Centre. Walking distance to GATEWAY SkyTrain station, secondary school, Steps away from elementary school, parks, shopping Centre and more. (id:48205)

2 Bedroom 1 Bathroom 1034
For sale
$829,999
2208 13428 105 AVENUE, surrey, British Columbia

2208 13428 105 Avenue

Surrey, British Columbia

Discover University District by Bluesky Properties in Surrey City Centre - a meticulously planned community located just a stone's throw from Surrey Central Skytrain. It offers convenient access to SFU Surrey and Kwantlen Polytechnic University. This 2-bedroom and 2-bathroom unit, comes with 1 parking spot and 1 storage space Surrounded by lush green spaces and the Chuck Bailey Recreation Centre, this community boasts an array of exclusive amenities, including a 23,000 sq. ft. facility with an outdoor heated swimming pool, a state-of-the-art fitness center, a dedicated spin room, a concierge service, and spacious entertainment lounges. This home is equipped with innovative hybrid heat pump systems for air conditioning,ensuring your ultimate comfort in this modern, luxurious community (id:48205)

2 Bedroom 2 Bathroom 797
For sale
$829,000
4206 13495 CENTRAL AVENUE, surrey, British Columbia

4206 13495 Central Avenue

Surrey, British Columbia

The Residences, Surrey's Flagship Residence at 3 Civic Plaza Development. This 42nd floor, 1032 sqft. unit has 2 bedrooms and 2 baths. The property features high-end finishing. Large balcony with unobstructed views. Steps to Skytrain, Central City Mall, SFU, KPU, Civic Plaza, City Hall & Hotel, coffee shops & library, & planned LRT system. TWO PARKING stalls and locker included. This premium condo has an open concept layout with floor-to-ceiling windows, an exercise center, an elevator, in-suite laundry. You won't find a better location close to this many amenities. No GST. Rentals & pets are allowed. Prado Café and Dominion Bar & Kitchen are on site. 24-hour Concierge. Storage Locker number 3020, Level P3, Room P304, Parking Stalls number 336,338. (id:48205)

2 Bedroom 2 Bathroom 1032
For sale
$824,900
1902 9675 KING GEORGE BOULEVARD, surrey, British Columbia

1902 9675 King George Boulevard

Surrey, British Columbia

PRESALE OF DEVELOPERS HOLD BACK UNITS.. Discover a convergence of comfort & convenience in this stunning 2 bed and 2 bath condo nestled in the heart of Surrey. Boasting a spacious 856Sqft interior space + 230sqft balcony, this residence is a testament of contemporary living, modern fixtures & appliances that promise a life of ease. 1 Parking stall &1 Storage Locker. This unit is perfect for first time home buyer, investor, professional or young couple. Its strategic location offers unparalleled access to SFU campus, upcoming UBC campus, Surrey central mall, Surrey Memorial Hospital and short walk to king George skytrain .Currently under construction and Presale with Estimated Completion summer 2024 www.belvedereliving.ca (id:48205)

2 Bedroom 2 Bathroom 856
For sale Open House
$821,000
4109 13495 CENTRAL AVENUE, surrey, British Columbia

4109 13495 Central Avenue

Surrey, British Columbia

Rarely available, high floor corner unit with unobstructed north and west views! This two bedroom and den corner suite features top of the line stainless steel appliances, upgraded hardwood floors, and premium cabinetry. This centrally located property sits atop the premium Civic Plaza hotel and is walking distance to KPU, SFU, and the future UBC campus. Skytrain steps away from the building, with both grocery and boutique shopping within walking distance. Perfect property for the downsizers and investors alike! TWO Parking spots AND a storage locker to boot! (id:48205)

2 Bedroom 2 Bathroom 1263
For sale
$808,606
1304 9675 KING GEORGE BOULEVARD, surrey, British Columbia

1304 9675 King George Boulevard

Surrey, British Columbia

###PRESALE### Pleased to exclusively present the Final Release of developer hold-back units at the sold out Belvedere presale! Estimated Project Completion June 2024, you can secure your Studio, 1 & 2 bed or Penthouse home with a LOW deposit of only 3%! This is an amazing investment or live-in opportunity, with the future UBC Surrey campus, SMH and King George SkyTrain right outside your doorstep! Minutes to Holland Park, Central City Mall, restaurants and services. All measurements must be verified if important to the Buyer and are deemed to be correct but not guaranteed (id:48205)

2 Bedroom 2 Bathroom 770
For sale
$802,606
1102 9675 KING GEORGE BOULEVARD, surrey, British Columbia

1102 9675 King George Boulevard

Surrey, British Columbia

Pleased to exclusively present the Final Release of developer hold-back units at the sold out Belvedere presale! Estimated Project Completion June 2024, you can secure your Studio, 1 & 2 bed or Penthouse home with a LOW deposit of only 5%! This is an amazing investment or live-in opportunity, with the future UBC Surrey campus, SMH and King George SkyTrain right outside your doorstep! Minutes to Holland Park, Central City Mall, restaurants and services. All measurements must be verified if important to the Buyer and are deemed to be correct but not guaranteed. (id:48205)

2 Bedroom 2 Bathroom 855
For sale
$799,999
2302 13387 OLD YALE ROAD, surrey, British Columbia

2302 13387 Old Yale Road

Surrey, British Columbia

HOLLAND TWO BY TOWNLINE in the heart of Surrey Downtown. This 32 story Tower close to all amenities, only steps away from Holland park, Two sky train stations, SFU campus, Upcoming UBC campus, Surrey central mall, Surrey Memorial Hospital and many amenities. This 2 bedroom and 2 bath unit on 23rd Floor. This unit cannot be missed. (id:48205)

2 Bedroom 2 Bathroom 772
For sale
$799,999
308 10665 139 STREET, surrey, British Columbia

308 10665 139 Street

Surrey, British Columbia

Welcome to this super large home in the future CBD- Surrey center. This is a well maintained complex. East facing unit , top level with plenty of light , skylight and view , overlook the new park . many bedrooms suitable for a large family just in one level. 1329 sqft living area plus large basement storage , 2 balconys, 2 parking spots. strata managed gas fireplace warm the whole unit in winter time. Open concept kitchen but also suitable for closure style. All the convenices, minutes walk to the skytrain stations, walmart, T&T market, Surrey Center Mall, Library, City Hall. The Public elementary school is just across the road, and Famous Our Lady of Good Counsel Elementary School is just beside the complex. Call for a showing now. (id:48205)

3 Bedroom 2 Bathroom 1329
For sale Open House
$799,900
3307 13308 CENTRAL AVENUE, surrey, British Columbia

3307 13308 Central Avenue

Surrey, British Columbia

Executive-level living awaits in this highly desirable 2-bedroom, 2-bathroom suite on the 33rd floor, complete with air conditioning for your comfort. This unit includes 2 storage lockers and 2 side-by-side parking stalls, with strata fees covering heat, hot water, gas, and A/C. The master bedroom boasts spacious closets and a full ensuite. The Evolve building offers amenities such as a fully equipped exercise center, a clubhouse, and 24-hour concierge service. Just a few blocks away from Surrey Center Mall, Skytrain, and the new SFU campus, pets and rentals are welcome here. *FIRST OPEN HOUSE : May 4th (SAT) 2-4PM & May 5th (SUN) 2-4PM (id:48205)

2 Bedroom 2 Bathroom 995
For sale
$799,900
3501 13618 100 AVENUE, surrey, British Columbia

3501 13618 100 Avenue

Surrey, British Columbia

"Unparalleled Luxury: The Largest Sub-Penthouse in the Building! Immerse yourself in the breathtaking 270-degree vista (North-West) from this deluxe 35th-floor abode, situated in the heart of Surrey Central. Featuring 2 Bedrooms, 2 Full Bathrooms, and 2 Side-by-Side Parking spots, this Concord-built gem offers a generous 1,227 sqft of living space, overlooking Holland Park, the Cityscape, Fraser River, and northern mountains. With easy access to the park, King George Skytrain, Central City Mall, SFU Surrey Campus, shopping, and dining, convenience is at your doorstep. Enjoy the amenities including 24-hour concierge service, a fitness center, and the coveted SKYLOUNGE on the 34th floor. Don't miss out on this unbeatable blend of comfort, views, and space! Call now to secure your appointment." (id:48205)

2 Bedroom 2 Bathroom 1227
For sale
$799,900
3405 13308 CENTRAL AVENUE, surrey, British Columbia

3405 13308 Central Avenue

Surrey, British Columbia

SUB-PENTHOUSE at Surrey Central! This 2 Bedroom + Den & 2 Bathroom Corner unit boasts over 1,000 sq ft of living space. This unit has open layout, bedrooms on opposite sides of the unit for extra privacy, over 200 sq ft of outdoor space across 2 balconies with views of the North Shore Mountains & the City of Surrey. The unit has laminate flooring throughout, large windows for lots of natural light. The kitchen features stone countertops, stainless steel appliances with gas range and plenty of cabinetry for storage. Amenities include: Exercise Centre, Concierge & Table tennis party room; all of this while being steps away from the Surrey Central skytrain, Surrey Central shopping centre, SFU Surrey campus, Holland Park & much more. Heating/cooling/gas/hot water included in strata fees! (id:48205)

2 Bedroom 2 Bathroom 1010
For sale
$799,000
3909 13495 CENTRAL AVENUE, surrey, British Columbia

3909 13495 Central Avenue

Surrey, British Columbia

The Residences, Surrey's Plagship Residence at 3 Civic Plaza Development. This 39th flooF, 1248 square foot, 2 bedroom and den, 2 bath property features high-ond finishing and beautiful views: Large 102 square foot balcony with unobstructed Views. steps to Skytrain, Contral City Mall, SPU, KPU, Civic Plaza, City Hall & Hotel, coffee shops & library planned IRT system. Two parking stalls and locker included. This premium condo has an open concept layout with floor-to-ceiling windows, exercise centre, elevator, in-suite laundry. You won't find a better Location close to this many anenities. NO GST. Rentals are allowed (id:48205)

2 Bedroom 2 Bathroom 1248
For sale
$798,900
4603 13750 100 AVENUE, surrey, British Columbia

4603 13750 100 Avenue

Surrey, British Columbia

PENTHOUSE!-46TH FLOOR!-THREE BEDROOMS! SEE FOREVER VIEW!-GOOD PRICE! 50K UNDER ASSESSED VALUE. TOP OF THE WORLD!! Located in CONDORD PACIFIC'S Park Avenue East this home is on the TOP residential floor. Finished with care boasting a lovely open kitchen with quality appliances, including a gas stove & engineered quartz countertops. With THREE good size Bedrooms, two attractive full bathrooms & a comfy living room this home can work for a family! Some of the best amenities in the area including outdoor pool, gym/exercise room, media/conference room, rooftop sky lounge, & more. Conveniently located walking distance to shopping, Central City Mall, SFU Campus, T& T Grocery Store & restaurants. You can walk to the Skytrain & be in Vancouver in 30 minutes. Don't miss out on this special home. (id:48205)

3 Bedroom 2 Bathroom 1004
For sale
$790,000
501 10661 137A STREET, surrey, British Columbia

501 10661 137a Street

Surrey, British Columbia

Looking to buy a place in the most happening area of upcoming Surrey Downtown?! Here it is, a beautifully designed modern open concept-based Red Brick apartment in Surrey Central!! This bright Corner unit comprises of 3 beds and 2 baths with 2 balconies and 2 Parking spots. Apart from high end appliances installed in the unit, this community features amazing amenities with Rooftop Garden, Guest House, Gym, Bike Storage. Walking distance to Surrey Central Mall, SFU/KPU, Skytrain stations and parks. Call before its gone! (id:48205)

3 Bedroom 2 Bathroom 914
For sale
$789,900
2706 13495 CENTRAL AVENUE, surrey, British Columbia

2706 13495 Central Avenue

Surrey, British Columbia

Welcome to your stunning 2 BED + 2BATH CORNER UNIT in the prestigious Civic Plaza. This exquisite home offers you the epitome of modern elegance and urban living. With its unobstructed city views, you'll be treated to a daily spectacle of sparkling lights and breathtaking sunsets. The 9-foot ceilings create an airy and spacious ambiance, while the central air conditioning ensures comfort all year round. Located just steps away from KPU, SFU, the library, and the SkyTrain, this residence places you in the heart of convenience and connectivity. Additionally, the recreation center allows you to pursue an active lifestyle while the two parking spots provide ultimate convenience. Experience the ultimate in luxury living in this phenomenal corner unit at Civic Plaza. (id:48205)

2 Bedroom 2 Bathroom 1034
For sale
$788,800
2202 13428 105 AVENUE, surrey, British Columbia

2202 13428 105 Avenue

Surrey, British Columbia

Presenting University District by Blusky Properties - an exciting new enclave situated in Surrey City Centre. Surrounded by verdant parks and boasting a state-of-the-art REC center, it enjoys prime proximity to the Skytrain, SFU Surrey, and Kwantlen University. This pristine 2-bedroom, 2-bathroom condo exudes contemporary elegance with its laminate flooring, energy-efficient windows, and abundant natural light. Indulge in a wealth of amenities including a heated pool, fitness center, chic lounges, secure bike storage, serene yoga studio, dedicated study spaces, and a vibrant kids playroom. Revel in breathtaking skyline and river views, backed by a comprehensive home warranty. Don't let this exceptional opportunity pass you by! (id:48205)

2 Bedroom 2 Bathroom 850
For sale
$779,000
4607 13696 100 AVENUE, surrey, British Columbia

4607 13696 100 Avenue

Surrey, British Columbia

Great convenient location in the heart of Surrey Center! Enjoy the luxurious suite up on the Exclusive 'Sky Collection' of Park Ave West by Concord. This very rare 850 sqft 2-bed + den floor plan with 9-foot ceilings, located on the north-facing sub-penthouse, provides unobstructed and protected 180-degree mountain& city views from its covered balcony. The suite boasts an in-suite marble backsplash, quartz countertops, a gas cooktop, built-in appliances and many other luxurious features. Resort-style amenities include a 24/7 concierge, heated outdoor pool, hot tub, sauna, rooftop patio, tennis court, fitness, lounge with a wet bar, putting green, theater, and playground. Under 5 minute walking to King George sky train station! Close to T&T, shopping, restaurants, SFU, Kwantlen and parks. (id:48205)

2 Bedroom 2 Bathroom 857
For sale
$779,000
2709 13387 OLD YALE ROAD, surrey, British Columbia

2709 13387 Old Yale Road

Surrey, British Columbia

HOLLAND TWO BY TOWNLINE in the heart of Surrey Downtown. This 32 story tower close to all amenities, only steps away from Holland park, Two skytrain stations, SFU campus, upcoming UBC Campus, Surrey Central Mall, Hospital, Shopping bus. This unit on 27th floor. City view. 2 bed 2 baths, underground parking. Corner Unit. (id:48205)

2 Bedroom 2 Bathroom 858
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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