Surrey City Centre: Condo Density, SFU, and the Investment Case

Written by Rob Visnjak, Personal Real Estate Corporation | Oakwyn Realty Ltd. | Published October 14, 2026

Surrey City Centre is the closest thing Surrey has to a downtown: SkyTrain stations, City Hall, Simon Fraser University’s Surrey campus and a growing number of condo towers. Many buyers here are first-time owners or investors. If that’s you, the useful questions are how many people actually rent here, how the condo market is doing, what’s planned, and what to check before you buy a unit as an investment. Here’s what the official sources say.

Surrey City Centre at a glance

The City defines City Centre as roughly 132 Street to 140 Street, and 94 Avenue to 112 Avenue. The City describes it as moving from a suburban town centre to a walkable, transit-oriented downtown.

Source: City of Surrey, City Centre Neighbourhood Profile, 2021 Census Data. Surrey figures are the profile’s comparison values.

The takeaway: more than half of City Centre households rented in 2021, and about one in three workers took transit, more than double the Surrey rate. Those two numbers are the core of the investment case, and of the competition you’ll face as a landlord.

Growth, SkyTrain and SFU

• Growth. The City’s 2025–2029 Financial Plan projects that Whalley (including City Centre) will have the highest annual growth rate in Surrey over the next five years, about 4.8%, because of increasing density in the City Centre area.
• SkyTrain. City Centre is on the Expo Line, and the Surrey Langley SkyTrain extension will start at King George Station and run along Fraser Highway. The Province expects it to open in late 2029. See what SkyTrain means for Surrey property values.
• SFU. Simon Fraser University’s Surrey campus is at 13450 – 102 Avenue, close to Surrey Central Station.
• Planning. The City lists the City Centre Plan among its ongoing land-use plans.

Already own a City Centre condo and wondering what it’s worth? Start with a number. Get my free home value estimate.

What condos cost: the North Surrey numbers

FVREB doesn’t publish a City Centre-only price. City Centre falls within FVREB’s North Surrey reporting area, which also includes Whalley and Guildford.

Source: Fraser Valley Real Estate Board, MLS® Summary and MLS® Home Price Index, September 2026 (Package202609). Surrey - North area (FVREB’s North Surrey reporting area); not Surrey City Centre alone. Sales-to-active ratios are calculated from FVREB figures. The benchmark describes a typical home, not any particular property, and isn’t a forecast.

How to read that for condos:

• The North Surrey apartment benchmark was $398,900, down 10.5% from a year earlier and the lowest apartment benchmark among the Surrey areas FVREB reports.
• There were 711 active apartment listings and 49 sales in September 2026, a 6.9% sales-to-active ratio. Buyers had lots of choice.
• Over three years, the North Surrey apartment benchmark is down 19.3% on FVREB’s index. Anyone who bought at the peak and needs to sell now may be selling for less than they paid.

For context, see average home price in Surrey and my Surrey market update.

The investment case: what to check

Official data shows high rental demand (55% renters) and a soft condo market. Whether a unit works as an investment depends on numbers you have to check yourself:

• Your actual return. Compare realistic rent with the mortgage, strata fees, property tax, insurance and vacancy. A low purchase price doesn’t help if the monthly costs exceed the rent.
• Strata documents. Bylaws, minutes, depreciation report, contingency reserve fund and any special levies. In towers, large repairs can be expensive.
• Rental rules. Since November 24, 2022, B.C. strata bylaws can’t restrict or ban long-term rentals. Bylaws limiting residents to age 55+ are still allowed, which affects who can live in those buildings. Short-term rentals are a different matter; see short-term rental rules in Surrey.
• Taxes. Rental income is taxable, and selling an investment property can trigger capital gains tax (check with CRA or an accountant). Surrey is covered by B.C.’s speculation and vacancy tax; see speculation and vacancy tax in Surrey. Selling within two years of buying may also trigger the B.C. home flipping tax.
• Pre-sales. Buying before completion has its own risks; see buying pre-construction in Surrey and presale deposits.

For a step-by-step approach, see how to buy your first investment property in Surrey.

Running the numbers on a City Centre condo? I’ll pull recent solds and active listings in the building. Book a no-pressure chat with Rob.

Schools in City Centre (Surrey Schools, SD36)

Schools are run by the Surrey School District (SD36). Fast growth in City Centre can put pressure on enrolment.

• I don’t rank schools. Online ratings aren’t from the school district.
• Check the exact address with Surrey Schools (use its school locator) before you write an offer.

City Centre vs other Surrey communities

Source: City of Surrey neighbourhood profiles, 2021 Census Data.

City Centre is the most transit-oriented and rental-heavy part of Surrey on the City’s numbers. If you’d rather own a townhouse farther out, compare with the Willoughby guide and Langley vs Surrey.

FAQ

Where is Surrey City Centre? Roughly between 132 and 140 Street, and 94 and 112 Avenue, according to the City.

How many people live in Surrey City Centre? 33,520 in the 2021 Census. The City projects Whalley (including City Centre) to grow the fastest in Surrey over the next five years.

What do condos cost in Surrey City Centre? FVREB doesn’t publish a City Centre price. Its North Surrey apartment benchmark was $398,900 in September 2026.

Is Surrey City Centre a good investment? I can’t predict prices. The City’s data shows 55% of households renting, but the North Surrey apartment market had 711 active listings and prices down 10.5% year over year in September 2026. Run the numbers on the specific unit.

Can a strata ban rentals in Surrey? No. Since November 24, 2022, B.C. strata bylaws can’t restrict or ban long-term rentals. Age 55+ bylaws are still allowed, and short-term rentals have separate rules.

Conclusion

Surrey City Centre has the transit, the university and the rental demand that make an investment case. More than half of households rent here, and the City expects the area to keep growing faster than the rest of Surrey. The condo market was soft in September 2026, with lots of supply and prices down from a year ago. That can be a better time to buy, but only if the numbers on a specific unit work. Before you offer, check the strata documents, realistic rent, monthly costs and taxes.

What happens next: When you book a chat, we go over your budget, whether you plan to live in the unit or rent it out, and your timing. Then I pull recent sold and active listings for the buildings you’re considering. There’s no cost and no obligation. Book a no-pressure chat with Rob.

This article is general information based on publicly available data as of October 2026. It isn’t financial, legal, or tax advice, and it isn’t an appraisal. Land-use plans, strata law, rental and tax rules are set by the City of Surrey, the Province of B.C. and the federal government, and can change; confirm before you buy. For advice on your situation, talk to a licensed professional. Rob Visnjak Personal Real Estate Corporation, Oakwyn Realty Ltd.