Top 10 British Columbia cities have been ranked by Real Estate in British Columbia Investment Network and Surrey has done first.
REIN, is an independent research & analysis firm, it is used like an equation which is being measured by employment and population growth and gross domestic product followed by decreased vacancies, increase in rental demands, and increase in rents to determine the cities.
which are possessed as most potential for real estate investment. Real Estate in British Columbia is boom at very fast pace. Surrey, is the one of the B.C.’s second-largest and fastest growing city, according to REIN’s equation, it had strongest performance.
Jennifer Hunt, Vice President, REIN said that where they started was the economic health of domestic product and with this people and jobs and 12 months were down by road that you start to see housing in the terms of the rental vacancies and demand, and after 18 months when you see increase in price of property. It is ranked in the robust methodology which starts with economic health. There was some material which was prepared by Continuing Legal Education Society on Real Estate in British Columbia.
As per reports by REIN, top 10 B.C cities and towns identifies that in Real Estate in British Columbia, best investment strategies for every city is based on where they are in cycle of real estate. Hunt also said that Surrey is just beginning of boom. Flip and fix in real estate in British Columbia are the optimal tactic which are being used in Surrey market today because of Vancouver Real Estate cycle.
In an addition to the opportunity of diverse economic, Surrey is forecasted to surpass Vancouver Real Estate by 2014 in population. A present, Surrey get 1,000 new residents every month.
Abbotsford and New Westminster finished its 2nd and 3rd, respectively. Reports stated that former is in end of recovery, so, hold and buy, fix and flip are best strategies for investment. Hunt also said that rent-to-own is tricky strategy to employ in the Abbotsford, but this can also be done with right people and property.
New Westminster is in mid of the recovery, and reports recommend that rent-to-own as a best tactic of investment because, Hunt says, “This has right balance of the individuals who are open to employ which are tactic, in terms of the investors, it is right time in market when the tenant buyers have the confidence in market. It is sweet spot in Real Estate Market in Vancouver
Vancouver Real Estate ranked at 10th in list, but Hunt said that it made cut-off sign of its vitality. Affordability remains a very persistent problem. Vancouver is a unique market. As per GDP forecasts in Vancouver, these are great and higher in Surrey.