Victoria ranked fourth best for real estate investment in B.C.

The Real Estate Investment Network has ranked Victoria as the fourth best place in B.C. for real estate investment.

Victoria is the only Vancouver Island city mentioned in the top-10 list, trailing only Surrey, Abbotsford and New Westminster.

The report gives credit to Victoria’s strong rental market as a key factor, with a vacancy rate in the B.C. Capital hitting 0.5 per cent.

The study also found “a diverse economy, inherent seat-of-government stability, location, relative affordability, and high median income” helped land Victoria in the fourth spot.

The report says Victoria is quietly becoming a centre for technology and entrepreneurial opportunities and credits the local economy for being in a position to have a strong future.

Victoria’s real estate market is reported to be in the “middle to end of recovery” and researchers say the “fix and flip” tactic will be optimal for investors.

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