Surrey is on track to become British Columbia’s largest city, and it’s one of Metro Vancouver’s most active presale markets. Prices are lower than in Vancouver, SkyTrain is expanding, and new condos and townhomes are rising across the city. Here’s a guide to buying pre-construction in Surrey.
See current Surrey projects.
Why buy in Surrey?
- Value: more space per dollar than Vancouver or Burnaby.
- Transit: SkyTrain’s Expo Line serves north Surrey, and the Surrey Langley SkyTrain extension is under construction along Fraser Highway.
- Growth: a young, fast-growing population.
- Services: Surrey Memorial Hospital and post-secondary campuses in City Centre.
Top areas for new homes
Surrey City Centre
The highest concentration of new condos, around Surrey Central and King George stations.
Fleetwood and the Fraser Highway corridor
New homes near future SkyTrain stations on the Surrey Langley extension.
Clayton and Cloverdale
Townhome and family-oriented communities in the east.
Grandview Heights and South Surrey
Larger homes and townhomes near the US border and White Rock.
BC rules every presale buyer should know
- Disclosure statement under the Real Estate Development Marketing Act before deposits are accepted.
- Seven-day rescission period for new strata units after receiving the disclosure statement.
- Deposits held in trust, often 10% to 20%.
- 2-5-10 home warranty on new homes.
- Assignment reporting and taxes on assignment profits; see our assignment guide.
Taxes and costs
- 5% GST on new homes, with the federal First-Time Home Buyers’ GST rebate for eligible buyers; see the rebate guide.
- BC property transfer tax, with exemptions for some first-time buyers and newly built homes below set thresholds.
- BC’s Speculation and Vacancy Tax may apply in designated areas.
Buying tips for Surrey
- Check the planned SkyTrain station locations and timelines; see why transit matters.
- Compare strata fees and parking.
- Vet the developer’s completed projects; see how to choose a developer.
Living in Surrey
Surrey is made up of distinct town centres: Whalley and City Centre in the north, Guildford and Fleetwood, Newton, Cloverdale with its historic main street, and South Surrey near White Rock’s beaches. City Centre is becoming a high-density downtown with Surrey Central’s library, City Hall and university campuses, while the south and east offer more space, parks and family-oriented neighbourhoods.
Townhomes vs condos in Surrey
Surrey has more townhome supply than Vancouver, making it a popular choice for families who want ground-oriented living in Metro Vancouver. Condos cluster around SkyTrain stations and town centres. Compare strata fees, parking and outdoor space, and see our condo vs townhome guide.
Who Surrey suits best
- Families wanting townhomes at Metro Vancouver’s lower price points
- Commuters along the Expo Line and future Surrey Langley extension
- First-time buyers using the federal FTHB GST rebate and BC exemptions
Surrey compared
See the Vancouver guide, Toronto vs Vancouver, and our Canada-wide guide.
Frequently asked questions
Is Surrey cheaper than Vancouver?
Yes, typically significantly cheaper per square foot for new condos and townhomes.
Can I cancel a presale in Surrey?
Within seven days of receiving the disclosure statement for a new strata unit.
When will the Surrey Langley SkyTrain open?
The extension is under construction along Fraser Highway. Check TransLink and the BC government for current timelines.
General information only. BC rules and tax thresholds change; confirm with a BC real estate lawyer before buying.
