Victoria fell just short of a podium finish in a study by the Real Estate Investment Network (REIN), ranking BC’s capital as the 4th best place for real estate investing in British Columbia.
Surrey topped the list, with Abbotsford and New Westminster ranking 2nd and 3rd.
REIN considered a number of primary factors, including population growth, increased rental demand, increased rent, property purchase demand, and increased property prices.
Victoria (unsurprisingly) scored highly in the ‘increased rental demand’ category
“A strong rental market, a diverse economy, inherent seat-of-government stability, location, relative affordability, and high median income, are key factors that give Victoria an edge over other top towns and cities in British Columbia,” reads the report.
Researchers suggest that Victoria’s market is in the “middle to end of recovery” meaning prospectors are in an optimal position to “rent to own.” Both “buying and holding”, as well as “fixing and flipping” are rated “good”, suggesting overall it is an opportune time to invest in Victoria real estate.
Top 10 places to buy real estate in British Columbia
- New Westminster
- Victoria ranked 2nd best small city on earth
- Victoria ranked 5th best city in Canada by Agents Choice Awards