Quote:
Originally Posted by nickinacan
In Surrey City Centre's defense, it is the only option that is outside of Vancouver. Yes I am including Brentwood with that neighbourhood is right on the Vancouver border. It doesn't have the advantage of location and direct quick connections like the others, or even Metrotown or Richmond. As far as being costly being on the south side of the river, it is all relative to where you work, and not everyone works across the river.
The developers, if they are smart, will maintain the market. If they can't sell units at a certain price point, they will stop building until the market picks up. So far so good on many of the towers being built right now, including 3 Civic Plaza (In my opinion, the nicest development in the area right now as far as units go).
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I agree. My point along with AudiA3 is more along the lines of just equating cheap prices or affordability doesn't make a blanket area a good or bad investment. Due to supply and demand in Surrey Central for example, the entire area doesn't automatically make a project a good investment. But there are specific projects that are good investments. For example I just purchased into a 3 bedroom townhouse in a project that has 4 townhouses and 192 condos just 3 minute walk from SkyTrain. It has proximity to the central Surrey area, one of the closer projects to SkyTrain access, and for the project itself out of 198 units, there are only 4 x 3 bedrooms available and I have 25% of them.
So to me (though I am living in it now with my wife), I deemed it a good investment. We paid $200,000 less than other townhouses going up in Surrey Central mainly because the project was focussed on selling the condos not the townhouses and we're on the edge of the core. No plans to sell for probably 5-10 years, so I am sure I'll get my money + some back if I sell.
But I felt Urban Village was a _bad_ investment in Surrey Central because of the project. So area doesn't automatically mean good investment.