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Surrey Named Best Place in B.C. to Invest

November 08, 2011

Surrey – For the third year in a row, Surrey has been named the best place in British Columbia to invest in real estate, according to a new report released today by the Real Estate Investment Network (REIN). The report predicts Surrey’s market will outperform all other regions in the province over the next three to five years.

“The City of Surrey has been working very hard to ensure businesses, investors and residents have confidence in our city. We have one of the lowest tax rates in the country, and we offer high quality, efficient services. We’re creating thousands of new jobs and businesses, and building world-class facilities in each of our town centres,” says Mayor Dianne Watts.

She adds that REIN ranked Surrey fourth on the list of top Canadian investment cities in 2010. “We’re proud that REIN is recognizing the opportunities that exist in Surrey because investors can spend their money anywhere they want. So, we’re happy they appreciate everything our city has to offer.”

The report looks at such factors as population increase, new infrastructure, employment growth, transportation upgrades and political leadership.

According to REIN, the findings are based on in-depth research, analysis of the latest statistics, economic and social trends, and on-the-ground reports from REIN's research staff and members, along with reports and statistics from organizations such as Canadian Mortgage and Housing Corporation (CMHC), Statistics Canada, Multiple Listing Service (MLS), Canadian Home Builders Association, city and regional real estate boards, and local economic development offices.

“As one of the fastest growing cities in the province, Surrey has spent recent years diversifying its economy and has experienced a tremendous population increase in the last decade,” states Don R. Campbell, president of REIN, Canada's leading real estate research organization. “A number of projects are in various states of completion that will positively impact the commute for residents to and from Surrey and improve transportation logistics for businesses. In the next decade, the city will continue to see explosive population growth, one of the most important factors to consider when deciding where to invest.”

The City of Surrey was also recently named the best place in Western Canada to invest in real estate, according to a report published by Western Investor Magazine.

For more information on the report, please visit: http://www.reincanada.com/

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Media Contact:

Tara Foslien
Senior Communications Specialist
Office of the Mayor
604.375.4584