Chilliwack makes first appearance on list of British Columbia’s Top Investment TownsJuly 25, 2013
July 25th Langley, BC - The Real Estate Investment Network (REIN) released the 2013 edition of its Top British Columbia Investment Towns report today. The 110-page report analyzes the current and future prospects for real estate investment in the province over the next decade and has ranked Chilliwack as a top investment community. The city is ranked 8th out of the 10 communities that appear in the report. The entire report is available for download free of charge on the company’s website at www.topbctowns.com.
Chilliwack had previously appeared on REIN’s list of ‘must watch’ cities, but this is the first time it has actually been declared a top investment city in British Columbia. “Chilliwack’s lower property values compared to the Fraser Valley and Lower Mainland have always been appealing, but rents had not crept up for properties to make sense here,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “Investors who know the city and do some digging can certainly find cash flowing properties here.”
This city offers affordable house prices when compared to the vast majority of Metro Vancouver towns, which has led to an increased rate of population growth over the last decade. With lower property taxes and access to Vancouver, BC’s interior region, and the United States via the Trans-Canada Highway, businesses have increasingly seen the benefits of setting down roots in Chilliwack. REIN believes the major expansion of commercial and industrial lands along Highway 1 and the Evans Road Corridor will further shine a light on Chilliwack’s potential in the eyes of potential homeowners and business owners.
Chilliwack is also poised to become home to numerous post-secondary institutions, which will provide investors with a continuous supply of student renters. The 200-acre Canada Education Park currently under construction in the city will showcase several major institutional facilities upon completion. The city expects to see an annual enrollment of 5,000 students at the new UFV campus alone.
“The secret to investing in Chilliwack,” says Mr. Campbell, “is to be very aware of tenant profiles and property locations. Risk is higher for real estate investors in areas undergoing revitalization but pay off may very well be higher as the City provides redevelopment incentives and has great political leadership welcoming to the investor.”
The top BC communities in REIN’s 2013 rankings are:
2) Maple Ridge
3) Fort St. John
4) Dawson Creek
9) Prince George
About the Top British Columbia Investment Towns report
The Top British Columbia Investment Towns report was first published in 2009 in response to growing demand from investors to know the province’s best locations for cash flowing properties. The report is released every second year and provides investors with comprehensive information on which areas of the province will outperform over the next decade. The communities listed in REIN’s report have been ranked according to their long-term investment potential, not short-term speculative market runs. Many sources are consulted in order to provide real estate investors with the most comprehensive information, including Canadian Mortgage and Housing Corporation, Multiple Listing Service (MLS), Statistics Canada, Regional Real Estate Boards, and local economic development offices. Additionally, real estate investors and REALTORS© who were well acquainted with particular cities and towns were consulted to provide ‘real time’ and ‘on the street’ experiences. The entire report is available for download free of charge on the company’s website at www.topbctowns.com.
About The Real Estate Investment Network Ltd.
Founded in 1993, The Real Estate Investment Network Ltd. (REIN) has grown over the years to become Canada’s leading real estate research and education organization for investors and homeowners across North America. REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education. For further information on REIN, visit www.reincanada.com.
For an interview with one of the report’s authors, please contact Melanie Reuter: