Over the next 6 to 12 months, I expect downward pressure on condo prices in Surrey Central — and it’s not because of weak rental demand or high vacancies. The real story is about a wave of new inventory: over 1,000 units across several towers that were purchased back in 2019 at much lower price points are now nearing completion. These units, originally sold for $800–$900 per square foot, are entering today’s market where resale and presale numbers no longer justify those figures.

Many of these buyers are investors who had limited ability to assign their contracts. With completion approaching and sentiment around Surrey Central cooling, most of them are preparing to sell — not rent. That means we’re likely to see a flood of listings from owners looking to exit without chasing long-term rental income. This will lead to price compression as sellers undercut each other in a rush to offload units, which could trigger an aggressive drop in condo values.

What This Means for Buyers

While this may cause volatility in the short term, it creates a rare opportunity for sharp investors and first-time buyers to acquire high-quality concrete condos at historically low prices. These aren’t poorly built products — they’re solid homes in prime locations, now available below replacement cost in some cases.

With sentiment subdued and inventory high, buyers have leverage right now. If you’ve been priced out before or have been waiting for the right time to step in, this is it.

I always say real estate moves in cycles, and we’re entering a very specific phase in that cycle for Surrey Central. The influx of low-cost completions isn’t a long-term trend — it’s a short-term correction that will likely create buying opportunities we won’t see again for years.

Now is the time to pay attention.