For overseas property investors interested in Canadian real estate in British Columbia, new research has been released forecasting the best cities for investment.
The report, published by the Real Estate Investment Network (REIN), lists the top ten cities in British Columbia based on 36 economic and market factors, to identify real estate markets that are poised to outperform over the coming five-year period.
The Real Estate Investment Network (REIN) is an independent research and analysis firm that has been producing reports on housing markets across Canada for 25 years and has earned its reputation as a dependable source in providing unbiased research and analysis.
Surrey, the second largest city in British Columbia and the fastest growing, was found to have the diversity and strength required to lead the province in real estate investment potential over the next five years, taking top spot in the list.
Ranked in order of potential for property market strength over the coming five-year period, the top ten came out as follows:
The Tri-Cities of Coquitlam, Port Coquitlam, and Port Moody
REIN’s Senior Analyst, Don R. Campbell, commented: ‘British Columbia’s is entering a new era of real estate opportunities and challenges. 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. This report identifies where relative affordability exists and regions which will continue to see upward growth despite current high values.’
He continued: ‘While most think these cities are in the ‘boom’ phase of the cycle, many possibilities exist in areas where the upside of rising markets remain. These areas provide opportunity for those who know the right investment strategies and tactics to use at the right time.
Overseas property investors considering British Columbia may want to investigate the report further.