Reasons Why Real Estate in Canada Is a Great Investment

If you’re thinking about investing in real estate, Canada should be at the top of your list. The market is strong, prices are stable, and there are plenty of opportunities for both first-time buyers and experienced investors. In this blog post, we’ll give you a rundown of the latest trends in Canadian real estate, as well as some tips on how to get started. So whether you’re just getting started or you’re a seasoned investor, read on for everything you need to know about investing in Canadian real estate!

Why real estate in Canada is a great investment

There are plenty of reasons why real estate in Canada is a great investment. For one, the market is strong and prices are stable. Additionally, there are plenty of opportunities for both first-time buyers and experienced investors. And finally, the Canadian government offers a number of programs and incentives that make investing in real estate a more attractive option.

Real estate trends in Canada

The Canadian real estate market is always changing and evolving. So it’s important to stay up-to-date on the latest trends in order to make the most informed investment decisions. Here are a few of the latest trends in Canadian real estate:

  • The average price of a home in Canada has increased by nearly five percent in the last year.
  • The demand for rental properties has also increased, as more people are choosing to rent instead of buy.
  • There is a growing trend of people moving from urban areas to rural areas, in search of more affordable housing options.

Tips for first time home buyers in Canada

If you’re a first-time home buyer in Canada, there are a few things you need to know in order to make the best possible decision. Here are five tips for first-time home buyers:

  • Get pre-approved for a mortgage before you start shopping for properties.
  • Work with a real estate agent who is experienced in working with first-time home buyers.
  • Be realistic about your budget and don’t overspend on your first home.
  • Make sure you’re aware of all the costs associated with buying a home, such as closing costs and property taxes.
  • Take your time when making a decision and don’t rush into anything.

Golden rules for real estate success in Canada

There are a few golden rules that all successful real estate investors live by. If you’re looking to achieve success in the Canadian real estate market, make sure you follow these five rules:

  • Educate yourself about the market and do your research before making any investment decisions.
  • Create a solid investment plan and stick to it.
  • Diversify your portfolio by investing in different types of properties in different markets.
  • Be patient and don’t expect to see immediate results. Real estate investing is a long-term strategy.
  • Work with experienced professionals, such as real estate agents, mortgage brokers, and property managers.

Canada’s real estate market: 4 things you need to know

Whether you’re looking to buy a new home or invest in Canadian real estate, it’s important to stay up-to-date on the latest market trends. Here are five things you need to know about Canada’s real estate market:

1. Prices are on the rise: According to the Canadian Real Estate Association, the average price of a home in Canada increased by 8.2% in the 12 months leading up to November 2017. This trend is expected to continue in 2018, with prices expected to rise by another 5%.

2. The demand for housing is high: There are more people looking to buy homes than there are homes available for sale. This has caused bidding wars in some markets, and has driven up prices even further.

3. Mortgage rates are rising: While interest rates are still at historically low levels, they are expected to increase in 2018. This will make it more expensive for buyers to finance their purchase.

4. There is a shortage of listings: The number of homes for sale has been declining for several years, and is not keeping pace with population growth. This has led to increased competition among buyers, and has put upward pressure on prices.

By following these tips and trends, you’ll be well on your way to achieving success in the Canadian real estate market!

Happy investing!


Incredible Benefits of Self Storage

Self storage is a great way to declutter your home, while also freeing up some extra space. Here are five incredible benefits of using self storage: 1. You can store anything you want! 2. It’s a great way to declutter your home. 3. It’s affordable and convenient. 4. You can make the most of your space. 5. It’s perfect for short-term or long-term storage needs. Ready to make the most of your self storage unit? Read on for tips on how to get started!

How to find self storage in Vancouver

Looking for a self storage unit in Vancouver can be a daunting task. With so many options available, it’s difficult to know where to start. The good news is that there are a few simple tips that can help make the process a lot easier.

  1. First, it’s important to decide what kind of self storage unit you need. Do you need a small unit for a few items, or a large unit for long-term storage?
  2. Once you’ve determined the size of the unit you need, you can start shopping around. There are many different self storage facilities in Vancouver, so take some time to compare prices and features.
  3. Be sure to read reviews to get an idea of the quality of each facility. Once you’ve found a facility that meets your needs, be sure to ask about discounts and promotions.
  4. Many self storage facilities offer discounts for long-term rentals, so be sure to ask about this before making your final decision.

By following these simple tips, finding self storage in Vancouver can be a breeze.

The Benefits of Self Storage

Self storage is a great way to declutter your home, while also freeing up some extra space. Here are five incredible benefits of using self storage:

You can store anything you want! Self storage units come in all shapes and sizes, so you can find one that fits your needs perfectly. And because you’re the only one with access to your unit, you can store anything you want – no questions asked!

It’s a great way to declutter your home. If your home is starting to feel cluttered, self storage can be a great solution. By storing items that you don’t use on a daily basis, you can clear up some much-needed space in your home.

It’s affordable and convenient. Self storage is a great option for those on a budget, as it’s typically very affordable. And because most self storage facilities are open 24 hours a day, you can access your belongings whenever it’s convenient for you.

You can make the most of your space. Not sure how to make the most of your self storage unit? Check out these tips:

  • Use clear plastic bins to store items so you can easily see what’s inside.
  • Label everything so you can find what you’re looking for quickly and easily.
  • Stack items on shelves to make better use of vertical space.
  • Use a storage rack to keep items off the floor and organized.

It’s perfect for short-term or long-term storage needs. Whether you need to store items for a few weeks or a few months, self storage is a great option. And if you ever need to access your belongings, most self storage units offer 24/hour access.

How to make the most of self storage

Ready to make the most of your self storage unit? Read on for tips on how to get started!

When it comes to self storage, there are endless possibilities. So whether you’re looking to declutter your home or simply need a place to store your belongings, self storage can be a great solution. And with so many benefits, it’s no wonder self storage is becoming more and more popular.

If you’re ready to make the most of your self storage unit, here are a few tips to get you started:

Benefits of using self storage

  • Use clear plastic bins to store items so you can easily see what’s inside.
  • Label everything so you can find what you’re looking for quickly and easily.
  • Stack items on shelves to make better use of vertical space.
  • Use a storage rack to keep items off the floor and organized.

By following these simple tips, you can maximize your self storage unit and make it work for you. So whether you’re looking for long-term storage or simply need a place to store your belongings for a few weeks, self storage is a great option. And with so many benefits, it’s no wonder self storage is becoming more and more popular.

Now that you know the benefits of self storage, how will you make the most of your space? Share your tips in the comments below!

Self storage units are a great way to declutter and organize your home. If you are looking for a place to store your belongings, self storage is a great option. With so many benefits, it’s no wonder self storage is becoming more and more popular.

Buyer Guide

Reasons to Rent in Langley: Top Real Estate Investment Tips

If you’re looking for a great place to invest your money, Langley is the place to be! With its booming economy and diverse population, Langley is an excellent choice for anyone looking to rent property. In this blog post, we will give you 12 reasons why renting in Langley is a wise investment. We’ll also provide some tips on how to find the perfect rental home in Langley and avoid common mistakes renters make when searching for properties. Finally, we’ll discuss three things you should consider before buying an apartment in Langley.

Tenants often make the mistake of assuming that they have plenty of time to find a rental property. In Langley, however, the rental market is extremely competitive and properties tend to go quickly. It’s important to start your search early and be prepared to act fast if you want to secure a home in Langley.

Top reasons to rent in Langley

  1. Langley is a beautiful, safe community with plenty of things to do
  2. Renting in Langley is more affordable than other areas in the Lower Mainland
  3. You have access to all sorts of amenities, including grocery stores, restaurants, and entertainment venues
  4. There are plenty of job opportunities in Langley for people of all backgrounds and skill levels
  5. The public transit system is excellent, making it easy to get around town without a car
  6. You’ll be surrounded by friendly people who will make you feel welcome in the community
  7. Langley is a great place to invest your money. With its booming economy and diverse population, Langley is an excellent choice for anyone looking to rent property.
  8. The rental market in Langley is extremely competitive. If you’re looking for a rental home, it’s important to start your search early and be prepared to act fastю

How to find a rental home in Langley, BC

  1. Start by looking online for rental homes in the area you want to live
  2. Contact a real estate agent who specializes in rentals and ask for help finding a home that meets your needs
  3. Drive around the neighborhoods you’re interested in and take note of any “For Rent” signs
  4. Go to open houses and meet with landlords to see if any of their properties are a good fit for you
  5. Ask friends, family, and coworkers if they know of anyone who’s renting out a place that would be perfect for you

Top mistakes renters make when searching Langley rental properties

  1. Not being organized
  2. Settling for the first place you see
  3. 3. Assuming that all landlords and property managers are the same
  4. Not reading the lease agreement thoroughly
  5. Not asking questions about the property or neighbourhood
  6. Signing a lease without getting a reference check on the landlord or management company

Three things you should consider before buying an apartment in Langley, BC.

Do your research: Before making any decisions, it’s important to do your research and understand the market conditions in Langley. Talk to friends and family who live in the area, read online reviews, and consult with a local real estate agent to get a better understanding of the rental market in Langley.

Be prepared to compete: The rental market in Langley is extremely competitive, so be prepared to compete with other tenants for your dream home. Have all your paperwork ready and be prepared to make an offer as soon as you find a property that you’re interested in.

Plan ahead: It’s important to remember that in Langley, properties tend to go quickly. If you’re not prepared to act fast, you may miss out on your perfect home. Start your search early and be prepared to make an offer as soon as you find a property that meets your needs.

Top three things to consider before buying a Langley apartment

  • The cost of living in Langley is high. Make sure you can afford the mortgage and other associated costs before buying a property.
  • Langley is a popular place to live. This means that rental prices are high and vacancy rates are low. Be prepared to pay a premium for a rental property in Langley.
  • The weather in Langley can be unpredictable. Make sure you are comfortable with the climate before buying an apartment in this area.

We hope you find this blog post helpful! If you have any questions, please don’t hesitate to contact us.

Buyer Guide

Langley real estate: average price of a home, 10 mistakes to avoid when buying or selling

If you are thinking about buying Langley real estate, it is important to know the average price of a home in Langley. Langley Realtors can help you find out more information on this topic and others like 10 mistakes to avoid when buying or selling Langley homes. Kim Phillips Real Estate Team has many resources for their clients, including 12 Things to know before buying your first house and 3 reasons why Langley is a good investment!

Langley is growing rapidly, so it is a great time to invest in this community! Contact us today for more information on Langley real estate!

10 mistakes to avoid when buying or selling real estate

If you’re looking to buy Langley real estate, there are a few things you should keep in mind. Here are ten mistakes to avoid when buying or selling Langley homes:

  • Not doing your research
  • Not consulting a Realtor
  • Buying based on emotion
  • Overpaying for a home
  • Underestimating repairs/updates that need to be made
  • Failing to get preapproved for a mortgage
  • Signing an offer without reading the fine print
  • Closing on a home without a home inspection
  • Not budgeting for moving expenses
  • Forgetting about taxes and other closing costs

What is the average price of a home in Langley?

The average price of a home in Langley is just over $930,000. However, prices vary depending on the neighborhood you’re looking in. Contact a local Realtor to get more specific information about the average price of a home in Langley.

If you have any questions or would like more information, please don’t hesitate to contact us! We would be happy to help.

10 Things to know before buying your first house

Are you looking to buy your first house? Here are twelve things you need to know before buying Langley real estate:

  1. t’s important to consult with a Realtor before purchasing a home. They can help you find the right property and guide you through the process.
  2. Buying a home is a big decision, so you should consider all of your options before purchasing a home.
  3. You’ll need to get preapproved for an offer, so it’s essential to do your research and understand the mortgage process!
  4. Your down payment affects what type of house you can afford. The bigger, the better! If you have 20% down on a $550,000 home, for example, you won’t need to purchase mortgage insurance.
  5. Not all homes are created equal – make sure you do a home inspection before buying to avoid any surprises!
  6. Closing costs and taxes can add up, so it’s essential to budget for those expenses.
  7. Moving can be expensive, so make sure you factor that into your budget as well.
  8. Location is key when buying a home – think about what’s important to you (schools, parks, public transportation, etc.) and find a neighborhood that suits your needs.
  9. Owning a home is an investment. Langley is growing rapidly, so it’s a great time to invest in this community!
  10. Be patient and don’t rush into a purchase. It’s significant to find the right home for you and your family.

If you have any questions or would like more information, please don’t hesitate to contact us! We would be happy to help.

3 reasons why Langley is a good investment

There are many reasons why Langley is a great place to invest in real estate. Here are three of the most important:

  1. Langley is growing rapidly, so your investment will likely appreciate in value over time.
  2. The community is friendly and welcoming, making it a great place to live and raise a family.
  3. There are many job opportunities in Langley, making it a great place to work.

If you’re looking for a safe and stable investment, Langley is the perfect place to put your money! Contact us today for more information on investing in Langley real estate.

Buyer Guide

How to Get the Best Price When Buying a House

Buying a house is one of the most important decisions you will ever make. A lot of people are under the misconception that they can get any house for any price, but this simply isn’t true. There are plenty of things to know before making this decision, so let’s jump right in!

How to get the best price when buying a house

The first thing you need to do is, of course, decide how much you’re willing to pay. If the house is already on the market then this process will be very easy. However, if it’s not for sale yet or there are several people interested in buying it at once (as happens frequently) negotiating a better price may prove difficult. If there are multiple people interested in the house, you can counter offer any time before an actual sale is made. Your real estate agent will be able to help with this process if needed or desired.

What you need to know about the first house

There are a number of things that come into play when buying your dream home, and not all of them are good. The number one thing that’s important to consider is whether the home has had any problems in the past (like floods, fires, etc.). Many homes will have at least some minor issues, but if it was recently hit by a natural disaster you should expect repairs and replacements to come with an added price tag.

What you need to know before buying a house

  1. Location, location, location – where is the house located and what are its surroundings like
  2. Is there a good school district in the area – this will affect your child’s education significantly
  3. What type of home do you want to buy – single-family or condo/town home
  4. How much can you afford to spend on a monthly mortgage payment
  5. What about property taxes and homeowners insurance
  6. When it comes time to sell your house, how long should you keep it before listing it for sale

Things not to do when buying a house

These are the top three things that you should avoid doing at all costs. Keep in mind, however, that every situation is different, so these may or may not apply to your particular circumstance. For example, if there’s already something wrong with the house you’re looking to buy, then it’s probably best not to make an offer until the seller has fixed the issue.

  • Don’t offer less than the asking price
  • Don’t try to fix things yourself before buying the house
  • Don’t wait too long to make a decision!

Hopefully, this gives you a good starting point for buying your first dream home. If you have any questions or need more specific advice, then don’t hesitate to ask your real estate agent! They will be more than happy to help.


Housing Market in Surrey 2020

Broken out by lodging type, the middle cost of a two-story home in the Metro Vancouver territory diminished 1.1 percent year-over-year to $1,402,395, while the middle cost of a townhouse and cabin diminished 2.5 percent and 4.2 percent to $636,012 and $1,182,420, separately.

After the Pandemic

Notwithstanding, costs in certain territories have not been as hard hit as others in the primary quarter.

The progressions in 2020 Q1 costs, year-over-year include:

  • Abbotsford: 2.1 percent
  • Surrey: – 1.3 percent
  • Coquitlam: – 3.5 percent
  • Langley: – 3.9 percent

Numerous potential purchasers may at present choose to hold up before settling on one of the greatest budgetary choices in their lives.

It would be ideal if you utilize the sharing instruments discovered through the offer catch at the top or side of articles.

As indicated by the Financial Conduct Authority, that is barely short of the all out number of first-time purchaser contracts gave in the main portion of a year ago.

While more established individuals are increasingly influenced by the wellbeing dangers related with pandemic, a report distributed a month ago by the Resolution Foundation think-tank found that more youthful laborers and the low-paid will be hardest hit monetarily. Both are bound to be utilized in parts that have been to a great extent or altogether shut somewhere around the pandemic —, for example, friendliness, travel and retail.

It’s imperative to likewise remember that, since every single money related market are interconnected, a financial exchange drop should influence the lodging market. For instance, numerous new purchasers go to the bank of mother and father to help with their up front installment. Notwithstanding, in the wake of encountering a drop in their speculation portfolio numerous guardians will be less disposed, or not, at this point capable, to enable their kids to support an up front installment.

Another significant factor to consider is the potential loss of pay that pandemic may cause. A few loan specialists may be reluctant to loan to candidates working in regions influenced by the pandemic, for example, the movement or oil and gas enterprises.

Buyer Guide

First Time Home Buyer Tips

Claiming a house is a major responsibility, it is anything but an ensured wise speculation, and it’s a truckload of work. (I’ve been a mortgage holder for just two years and I as of now have a developing rundown of activities and contractual workers to call… it’s not generally the imaginative heaven renovating demonstrates describe it).

5 Tips For First Time Home Buyer

1. Begin putting something aside for an initial installment early

It’s entirely expected to put 20% down, yet numerous loan specialists currently grant significantly less, and first-time home purchaser programs permit as meager as 3% down. Be that as it may, putting down under 20% may mean greater expenses and paying for contract protection, and even a little initial installment can at present be weighty. For instance, a 5% up front installment on a $200,000 home is $10,000.

Play around with this initial installment number cruncher to assist you with arriving on an objective sum. A few hints for putting something aside for an up front installment incorporate putting aside charge discounts and work rewards, setting up a programmed investment funds plan and utilizing an application to keep tabs on your development.

2. Check your credit

For the most part, to fit the bill for a home advance, you’ll need great credit, a past filled with taking care of your tabs on schedule, and a greatest obligation to-pay (DTI) proportion of 43%.2 Lenders nowadays by and large like to constrain lodging costs (head, premium, expenses, and property holders protection) to about 30% of the borrowers’ month to month net salary, however this figure can differ generally relying upon the nearby land advertise.

3. Start with Getting Ready to Borrow by means of a Mortgage

Your fantasy home could possibly be close enough today. You may have the option to purchase more house than you truly need. The amount of a home loan installment you can really manage the cost of will probably rely upon your way of life just as resources, salary and obligation. Before you run off and discover your fantasy home, you should invest some energy into figuring out what you can truly bear.

4. Having a Good Real Estate Agent

Finding an educated realtor who has your inclinations on a fundamental level is basic for first-time homebuyers. All things considered, that individual is answerable for directing you toward your fantasy home. What’s more, you likely have heaps of inquiries.

“There’s a matter of expertise and experience that go in with the general mish-mash,” Parsons stated, so it’s critical to “invest some energy with the [real home agent] as an advocate.” That implies your realtor ought to go past recognizing what you can meet all requirements for dependent on resources and pay yet additionally have the option to pinpoint what you’re looking for as far as rules, for example, neighbourhoods, way of life, wellbeing and school locale.

5. Check building plans for the area

Since the mortgage holders have no youngsters, they get the chance to hear the noisy sound of swings throughout the day, however they don’t profit by having a play area so close by. Also, having a play area for all intents and purposes in the lawn is all in or all out with regards to resale – purchasers with children may consider it to be a selling point, while others may not. Prior to purchasing a home, see whether there are any structure designs close to your home to maintain a strategic distance from shocks after you’ve moved in.


How Will COVID19 Affect the Housing Market

The spread of COVID-19—the illness brought about by the novel coronavirus—was formally pronounced a pandemic by the World Health Organization on March 11. It’s as of now guaranteed in excess of 44,000 lives in the United States. Haven set up orders have been given for urban areas the nation over and 26 million Americans have petitioned for joblessness since the flare-up of the pandemic.

It’s nothing unexpected merchants who don’t need to sell right currently are reconsidering posting their homes. Purchasers who aren’t feeling the squeeze to buy a house are additionally pulling back. Stock decays, a key market pointer, are additionally easing back. “We are seeing purchasers dithering as much as venders now.

Actually home costs do will in general fall during financial downturns, yet the degree to which that happens can change by nearby market. In territories of appeal, mortgage holders may not see their property estimations go down by any stretch of the imagination. What’s more, with contract rates being so low, planned purchasers whose pay doesn’t endure a shot in the coming months may attempt to profit by that open door by buying property in the near future. Get enough intrigued purchasers, and abruptly, that request alone can help guarantee that should you choose to sell your home, you’ll order an average cost for it.

U.S. Home loan rates hit an unsurpassed low toward the beginning of March, with the normal pace of the 30-year fixed-rate contract dropping to a stunning 3.29% as indicated by Freddie Mac, overshadowing the past low set in 2012. Only a year prior, however, contract rates were drifting in the mid-4% territory after practically contacting 5% toward the finish of 2018.

Development to home deals is to a great extent an element of the accessibility of homes available to be purchased (supply) and homebuyers capacity and eagerness to buy (request). Covid measures and responses have directly affected both. Our stock information for the second 50% of March recognized indications of value deceleration and new posting decreases on a year-over-year premise. Whenever proceeded these could flag further and progressively continued drops in purchaser and dealer notion.

For merchants who have kept their homes available, their conduct has gotten progressively mindful. Of the REALTORS® remembered for NAR’s March 16 overview, around 60% said that venders had avoided potential risk when demonstrating their homes. These precautionary measures incorporate dropping open houses, limiting the quantity of showings and expecting purchasers to take off their shoes and wash their hands or use hand sanitizer upon entrance.


What is Empty Home Tax and Speculation Tax?

Part of learning about a new property in British Columbia that you are interested in purchasing means learning about the costs associated with that property. For homeowners in the Vancouver and Surrey areas, that means learning the difference between Empty Home Tax and Speculation Tax. To help you navigate an area of property taxation that has confused plenty of residents already, we have prepared a short explanation of how each applies to BC housing tax codes.

Empty Home Tax vs Speculation Tax

The designation of these taxes has confused some people into thinking they are one and the same, just with a different name. To begin our explanation, we need to make it clear that the Empty Home Tax and the Speculation Tax are separate. One applies to each residential property owner in the province, and the other is applied only to those living in Greater Vancouver Area includes Surrey, Langley and Abbotsford. Knowing the difference between these BC housing taxes and how they apply to you is a vital aspect of home ownership in BC, and can have an impact on your search for homes in the area.

BC’s Speculation Tax

To begin, this tax usually doesn’t apply to most BC residents, but each property owner needs to declare their exempt status from this tax each year, otherwise they will have to pay up to 2% of the taxable value on the property. The Speculation Tax was introduced to increase access to urban markets in Vancouver where many Canadian citizens were being priced out due to unchecked foreign investments. These days, if a property owner earns more than 50% of their income outside of Canada, the Speculation Tax will apply to 2% of the previous year’s assessed value. In cases where property owners live and primarily earn income in Canada, the tax rate drops to 0.5%.

Whether the tax should or should not apply to you doesn’t matter to the province if you fail to declare your exemption from the tax. If you own a residential property in BC which happens to be your primary residence, you need to remember to opt out of the tax before the deadline!

Empty Home Tax

This tax is exclusive to Vancouver residential property owners and it applies under the municipal tax code rather than that of the province. Similar to the Speculation Tax, the Empty Home Tax is designed to slow the rate at which house prices were rising in the city. It is also meant to tax those who own residential properties in the city but who don’t pay income taxes in Canada, and encourage those owners to rent their properties rather than leave them vacant.

The Empty Home Tax won’t apply to those who’s primary residence is in Vancouver, or those owners who rent their property at least six months a year. Keep in mind that those to whom the tax doesn’t apply will still have to declare their property ownership status to be exempt. Those who end up paying the tax will be subject to paying 1% of the property’s taxable value.

Hopefully this has cleared up any confusion regarding the BC housing tax.


10 Reasons Why Real Estate Prices In Surrey Are So Crazy!

Its no secret that Surrey has some of the most outrageous real estate prices in the entire country, let alone North America. While Surrey is one of the world’s most desirable places to live, the reason why real estate has gotten so crazy has many influencing factors. To help you get an idea of why prices are so high, and how this knowledge can help you on your search for Surrey or even Surrey real estate, take a look at the reasons listed below.

Demand and Land

As we mentioned above, Surrey is a really desirable place to live, and the same goes for many of the other towns and cities in BC’s lower mainland. That has led to a high demand for living space, which is why towns like Surrey and Richmond have also seen prices rise as the demand spreads. The problem with this high demand is the fact that geographical constraints in the area means there is limited space to build residential properties, thus driving up prices in a market where there is no shortage of buyers.

Construction Costs

With the cost of building materials and labour on a steady rise, the cost to actually build the homes in this area has risen. This expense has naturally been transferred to those people buying a new home, especially if they are looking for unique materials for custom house features such as granite counter tops. The cost of improving the infrastructure in the area also has an impact on the prices of new or rebuilt homes.

Foreign Investment

A lot of the driving force behind the rising price of Surrey real estate as well as the rest of the Surrey area is the influx of foreign wealth into the market. This has actually caused the housing market to become less associated with the local labour market, meaning the inflation of prices has been influenced by investors who earn and spend outside the local BC market. Purchasing multiple properties to flip and sell has been a big contributor to the rise in costs in otherwise affordable neighbourhoods, and most attempts to curb this type of investment have fallen short.

Unscrupulous Investment

The trend can’t be entirely blamed on the influx of foreign wealth. There are also plenty of unscrupulous real estate professionals looking for fast money and willing to cut regulatory corners for the sake of a commission. Shady acts such as forged signatures on lease agreements have led to sales that drive up the market at the expense of other law abiding agents, buyers and people selling homes. Combine that with a lack of oversight and penalties for misconduct that lack teeth, and the artificial price inflation will go on.

Shadow Flipping

This falls under the unscrupulous category of real estate practices, but the abundance of shadow flipping has made it a cause for high prices on its own. When you traditionally flip a house, you make investments in renovations and sell the upgraded property for a profit. Shadow flipping is essentially the same, except there are no renovations, and the selling price of the home is outrageously higher. This gives unscrupulous real estate investors a huge incentive for a quick cash grab, meanwhile driving up the price for a home that should never be purchased at that price. Unfortunately, the demand is high enough that the property will sell, and oversight is lax enough that the consequences for getting caught shadow flipping are negligible.


Thanks to databases like MLS, it is easier than ever to browse real estate listings without ever having to set foot in a prospective property. This is great for the average home buyer with a middle class income, but it has also made it way easier for foreign investment to take hold of the market. Foreign investors, just like you and me, don’t even have to set foot in the country to see the properties they’re interested in. Purchasing is then a simple matter of getting a representative to complete the transaction.

Money Laundering

Whenever there is an artificial price bubble on something as abundant as real estate, there is sure to be some shady financial operations at work. Recently, it has been discovered by data analytics firms and the Canadian government that a lack of oversight in the real estate transactions in BC leaves a very high risk for being used as a transfer and holding vehicle for laundered money used for organized crime. As prices continue to be artificially propped up, and regulation remains low, the window is open for the inflation of housing prices to continue.

Low Requirements for Real Estate Industry

This boom in real estate in Surrey and all over the lower mainland has caused the amount of real estate agents to grow exponentially. Think of it as a mini gold rush, where all sorts of people looking to strike it rich are funnelling into the area. Some are qualified to handle real estate transactions properly and according to regulation, but most are prone to errors and breaking regulations in the interest of making a quick buck. This is why it is vital to research your representative before hiring them to sell your home.

Unrealistic Approach and Bias

One of the main culprits that has no direct financial impact on the real estate market in Surrey, but still represents a huge factor in high realty costs, is the current language and information being discussed around this trend. Most people have probably seen the headlines calling Surrey an ‘unaffordable city’, but these can be misleading in the interest of maintaining the high market costs. Developers and real estate associations are actually fuelling this notion that prices are never going to drop in the lower mainland. Despite the lack of credibility of this blanket statement, people are more inclined to agree with that assessment, while dismissing those who blame foreign investment and high immigration rates as xenophobic.

Area Growth

The population of Vancouver, Surrey and the entire lower mainland is expected to continue to rise, with a million more people expected to live here by 2041. With this fact in mind, the municipalities in the area are pushing for more residential growth, but this has caused some places, like Surrey, to overestimate the impact of this population growth and artificially expand the housing market. This is turning cities like Surrey into investment hubs for the wealthy class, rather than a planned community for local residents and members of the workforce.