Surrey City Centre continues to experience rapid growth and strong demand for new homes and commercial real estate, despite the widespread softening of the residential market. This is largely driven by the area’s amenities, rapid transit, and relatively affordable homes. As a result, there are over 12,500 units of new housing under application, almost entirely condos, and over one third (39%) of the applications have at least some commercial component on the ground floor.
The green highlighted regions on the below map indicate areas containing a high concentration of new development applications and are where we can expect to see new construction in the near future.
The red area outlines a region where buyers of development land have been particularly active, purchasing their next sites. As development generally follows closely behind recent transactions, we can expect to see the next influx of development applications to be throughout this region.
In creating this report we consult City of Surrey planning and engineering staff, survey multiple land transaction reporting systems and analyze municipal development data to bring you the most relevant information. If there is additional information that you would find helpful don’t hesitate to reach out to us.
Sources: Commercial Edge, City of Surrey, Urban Analytics New Home Source, CLS, MLS. This representation is based in whole or in part on data generated by the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy.