Bidding Wars on Rental Condos
In the last 10 days, there have been some crazy large bidding wars on Condos which allow rentals in Surrey Central. 1 Bedroom 1 bathroom condos less that 650 sq ft are now selling at the mid $300’s to 400’s depending on the location, age, and condition. Investors are literally fighting over rental condos in this area for investment purposes.
A recent sale of a 1 bedroom condo sold for almost $50,000 more than a condo only six floors below, which was in the same building, same location with south west view and same approximate size. The one which sold for almost $50,000 less sold only 10 days prior than the buildings most recent sale and was only assessed by the city as $10,000 less in value.
It appears that the market has definitely seen a very rapid resurgence in demand depending on the location and price point.
If you have any questions about investment property and how you can start collecting money while you sleep, give me a call and I would love to help you out.