Surrey & South Surrey High-End Rental Market Continues To Boom
(January 02, 2015
)
High-end rental market is continuing to pick up in Surrey and South Surrey.
Surrey’s economic boom has given many opportunities to capitalize on an emerging market, and earlier this year prompted the Real Estate Investment Network to name the city B.C.’s No. 1 spot to invest.
Among the changes brought by the boom is the rapid growth of the city’s white-collar population, which in turn has created new openings for niche entrepreneurs.
We are constantly hearing from other professionals remarking how Surrey is undergoing a metamorphosis much like Yaletown.
"The re-urbanization that is occurring in the Surrey centre is not unlike the trend that downtown Vancouver experienced in Yaletown after Expo 86."
Yaletown was an industrial area up until the world’s fair, and then the city sold the land to a Hong Kong-based investor who jump-started the enclave’s redevelopment.
Surrey’s current expansion affects every economic sector, and that white-collar workers choosing to leave Vancouver are reaping the benefits of decreased commute times, higher earning potential and easier access to civic amenities.
“Regardless of market conditions, the city of Surrey has positioned itself well for the future absorption of supply in the real estate industry."
To most, the unfathomable growth in Surrey and "the valley" and imagining the transformation that the Surrey City Centre area has seen already since the days of Stardust [a roller skate rink located at Central City Arena] birthday parties has bordered on unthinkable.
So many, especially in urban Vancouver, can't really even wrap their collective heads around what the next 20 years could hold for Surrey and the Fraser Valley.”
Our urban and suburban real estate team of experts at THE BC HOME HUNTER GROUP have indeed been advising our clients forever as to the future benefits outside of the tri-cities in the Fraser Valley. "The rise of the burbs" has and will continue to be the real story in west coast real estate for decades to come.
The city’s real estate market is still emerging, bringing the inevitable growing pains. An abundance of condo inventory is still suppressing values in the downtown core.
"The rough tenant profile is still challenging. However, it could be another five to 10 years to really clean up, and if you wait to invest you could miss the lift," say industry experts.
Whether your urban or suburban our real estate team are the experts in every corner of the lower mainland. Don't hestitate to call us for any of your real estate needs, 604-767-6736.
Surrey’s economic boom has given many opportunities to capitalize on an emerging market, and earlier this year prompted the Real Estate Investment Network to name the city B.C.’s No. 1 spot to invest.
Among the changes brought by the boom is the rapid growth of the city’s white-collar population, which in turn has created new openings for niche entrepreneurs.
We are constantly hearing from other professionals remarking how Surrey is undergoing a metamorphosis much like Yaletown.
"The re-urbanization that is occurring in the Surrey centre is not unlike the trend that downtown Vancouver experienced in Yaletown after Expo 86."
Yaletown was an industrial area up until the world’s fair, and then the city sold the land to a Hong Kong-based investor who jump-started the enclave’s redevelopment.
Surrey’s current expansion affects every economic sector, and that white-collar workers choosing to leave Vancouver are reaping the benefits of decreased commute times, higher earning potential and easier access to civic amenities.
“Regardless of market conditions, the city of Surrey has positioned itself well for the future absorption of supply in the real estate industry."
To most, the unfathomable growth in Surrey and "the valley" and imagining the transformation that the Surrey City Centre area has seen already since the days of Stardust [a roller skate rink located at Central City Arena] birthday parties has bordered on unthinkable.
So many, especially in urban Vancouver, can't really even wrap their collective heads around what the next 20 years could hold for Surrey and the Fraser Valley.”
Our urban and suburban real estate team of experts at THE BC HOME HUNTER GROUP have indeed been advising our clients forever as to the future benefits outside of the tri-cities in the Fraser Valley. "The rise of the burbs" has and will continue to be the real story in west coast real estate for decades to come.
The city’s real estate market is still emerging, bringing the inevitable growing pains. An abundance of condo inventory is still suppressing values in the downtown core.
"The rough tenant profile is still challenging. However, it could be another five to 10 years to really clean up, and if you wait to invest you could miss the lift," say industry experts.
Whether your urban or suburban our real estate team are the experts in every corner of the lower mainland. Don't hestitate to call us for any of your real estate needs, 604-767-6736.
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