Two B.C. cities are tops on a list of Canada’s investment hot spots, according to a recent report from Business Review Canada.
The review broke down Canada’s regional economies by province, and then dug deeper to find emerging markets in small to mid-size communities ripe with opportunity for investors.
When the dust had settled, the B.C. communities of Maple Ridge & Pitt Meadows, along with Surrey, came out on the top of the ranking. They share the honour with Red Deer, Alta., and Barrie, Ont., also named among the most desirable communities to purchase investment properties.
Maple Ridge & Pitt Meadows is noted for both its commercial and residential investment potential. The Translink/Gateway Project is underway, a move which will improve transit and infrastructure, making it a popular new choice for residents and businesses looking for close proximity to Vancouver.
Surrey is also touted as a city with enormous potential, expected to eventually trump Vancouver as the largest city in the province.
Surrey, in fact, attracts some 1,000 new residents each month, while its bustling public transit, green parks, two border crossings and active local economy also strengthen its appeal for investors, according to the report.
Red Deer, Alta., is praised for its mix of business and pleasure opportunities as well as its solid economy. Situated between Calgary and Edmonton, the city’s rental market is booming. Barrie also made the cut on account of its recent growth as both a residential city and a vacation destination.