If you're considering buying a presale, assignment, or resale condo in Surrey Central, you're probably wondering whether it's a smart investment. In this blog, we’re going to break it all down so you can make an informed decision.

Understanding the Current Surrey Central Market

When looking at Surrey Central, there are three types of products available in the market:

1. Presale Condos: These are under construction and set to complete between 2027 and 2028.

2. Assignment Sales: Condos that are nearly complete, with expected occupancy in 2024 and 2025.

3. Resale Condos: Existing buildings that have already been completed, occupied, and rented out.

Resale Condos in Surrey Central

Resale condos are a solid option if you're looking for a move-in-ready home or an investment property with stable returns. Many good buildings in Surrey Central, including Hub One, Hub Two, and other towers near King George Station, are selling for around $900 per square foot.

A one-bedroom condo in a well-maintained, five to seven-year-old building typically costs $450,000 to $460,000, offering good value given its proximity to transit, SFU, KPU, and shopping centers.

Wood Frame vs. Concrete Buildings

• Concrete Condos: Generally have smaller units and higher price per square foot, around $925 - $950.

• Wood Frame Condos: Slightly cheaper, around $850 - $900 per square foot, and tend to be newer, but they are usually located further from SkyTrain stations.

Why Assignments Present a Big Opportunity

Assignments in Surrey Central are where I see the biggest investment potential right now. Investors who bought in 2021 are now selling at 2021 prices, providing a great entry point for buyers.

Most assignments aren’t listed on MLS, so you’ll need to work with a realtor who has access to off-market deals. Recently, we closed deals on:

• One-bedroom condo (500 sq. ft.) with parking and storage for $415,000

• Two-bedroom, two-bath condo for $610,000 (brand new, move-in ready)

Although you’ll need to pay GST, there are incentives like $10,000 - $20,000 in developer credits, and if you’re an end-user, you may qualify for a land transfer tax exemption.

Should You Invest in a Presale Condo in Surrey Central?

Presales are a hot topic, but not all presales make sense. Since 2021, I’ve warned buyers against purchasing presales at $1,200+ per square foot, as these prices are simply too high to generate a strong return.

Here’s why:

• The buyer pool in Surrey Central is price-sensitive, unlike Brentwood or Metrotown.

• Many investors who bought high are now struggling to sell their units, even at a loss.

• The market is saturated, meaning inventory is high and will remain high over the next 12-18 months.

Real-Life Example

A buyer contacted me after purchasing a three-bedroom condo for $989,000 in 2022. After factoring in GST and closing costs, the total came to around $1.1 million. When I asked if he would personally pay $1.1M for a Surrey Central condo, he immediately said no—he would rather buy a townhome in Langley. This highlights the challenge: if you wouldn't buy it yourself, why would someone else?

Where Should You Invest Instead?

If you’re looking for a smart investment, focus on:

• Assignments in Surrey Central (buying at 2021 prices)

• Select low-rise buildings in quieter, family-friendly neighbourhoods

• Langley (Willoughby, Willowbrook) – Strong potential for price appreciation

• South Surrey & Delta – Limited condo inventory, meaning higher demand

Final Thoughts: Should You Buy in Surrey Central Right Now?Is Investing in Surrey Central Condos Worth It Right Now?

If you're considering buying a presale, assignment, or resale condo in Surrey Central, you're probably wondering whether it's a smart investment. In this blog, we’re going to break it all down so you can make an informed decision. My team exclusively focuses on new construction projects, meaning we live and breathe presales every day. Everything I share is based on firsthand experience and what I see happening in the market daily.