Sweet for Suites in Surrey
Sam Smith, Metro Vancouver, March 12, 2009 5:55 a.m.
Surrey is turning into one suite place.
According to a report released yesterday by the Real Estate Investment Network (REIN), B.C.’s fastest growing city is a buyer’s dream.
“It’s such a large area that it has every type of housing and every demographic,” said REIN president
Don Campbell. “As a homeowner or an investor, there’s a plethora of choices available.”
Between 2006 and 2008, Surrey reported an increase in residential construction spending of more than $193 million to just more than $1 billion.
And despite rising gang activity in the area, Campbell said he believes investments there are safe choices.
“We’re looking out five to seven years, (gang) problems are one of those short-term issues that will get cleaned up,” he said.
Projects in that time period include the four-lane South Fraser Perimeter Road coming from Delta and the new Golden Ears Bridge in Langley.
According to Campbell, this will help unclog the Port Mann Bridge, allowing Surrey to be more easily accessible. “Right now it’s kind of stuffed up.”
B.C.’s top real-estate investments
• 1. Surrey
• 2. Maple Ridge and Pitt Meadows
• 3. Abbostford
• 4. Kamloops
• 5. Dawson Creek