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.
