The Real Estate Investment Network has named the province’s second largest and fastest-growing city as the best bet for investors in the coming five years.
Vancouver is in the list but at number 10 behind Abbotsford, New Westminster, Victoria, Kamloops, Kelowna, Chilliwack, The Tri-Cities of Coquitlam, Port Coquitlam and Port Moody, and Burnaby.
"British Columbia's entering a new era of real estate opportunities and challenges,” says REIN's Senior Analyst Don R. Campbell. “While most think the Lower Mainland's housing market is priced 'out of this world' – limited supply and increasing demand continue to drive this market. Affordability is creating challenging hurdles for many buyers to overcome.”
The report ranks cities based on 36 economic factors to determine the markets set to outperform peers.
More market update:
Investing in real estate in British Columbia should start with Surrey according to a new report.