Burnaby, British Columbia

Real Estate Market in the City

Market Characteristics

Burnaby’s real estate market is highly competitive and diverse, reflecting the city’s status as a desirable place to live and work. The market is characterized by a mix of high-rise condominiums, single-family homes, and townhouses. Burnaby’s central location within Metro Vancouver and excellent public transit links, including the SkyTrain, make it a popular choice for both families and professionals.

Property Types Available and Prices

• Single-Family Homes: These properties are found primarily in neighborhoods like Burnaby Heights, Deer Lake, and South Slope. Prices typically range from $1.5 million to $3 million, depending on the location and size of the property.
• Townhouses: Townhouses offer a middle ground between single-family homes and condos. They are popular in areas such as Brentwood and Edmonds, with prices ranging from $700,000 to $1.5 million.
• Condominiums: High-rise condos are particularly prevalent in Metrotown, Brentwood, and Lougheed. Prices for condos generally start at around $400,000 and can go up to over $1 million for luxury units.
• Rental Properties: The rental market is robust, with one-bedroom apartments averaging around $1,800 per month and two-bedroom units around $2,400 per month.

Attractions and Lifestyles

Burnaby offers a wide range of attractions and lifestyle options, catering to diverse interests and age groups.

• Metropolis at Metrotown: A premier shopping destination with over 400 stores, dining options, and entertainment facilities.
• Burnaby Mountain: Home to Simon Fraser University, this area offers stunning views, hiking trails, and the renowned Burnaby Mountain Conservation Area.
• Deer Lake Park: A beautiful park featuring walking trails, boating, cultural venues like the Burnaby Art Gallery, and the Shadbolt Centre for the Arts.
• Burnaby Village Museum: A living history museum that recreates a 1920s village, providing an immersive experience for visitors.
• Central Park: A large urban park with sports facilities, walking trails, and a pitch-and-putt golf course.
• The Heights: A vibrant commercial and residential district known for its unique shops, restaurants, and community events.

Living in the City

Living in Burnaby combines the convenience of urban living with the tranquility of suburban life. The city is well-planned, with excellent infrastructure and a strong sense of community. Burnaby’s public transit system, including SkyTrain lines and numerous bus routes, ensures easy access to downtown Vancouver and other parts of the Metro Vancouver area.

The city’s educational institutions, including SFU and BCIT, attract students from around the world, contributing to a diverse and dynamic population. Burnaby also boasts a variety of recreational facilities, such as community centers, sports complexes, and public libraries, which enhance the quality of life for residents.

Burnaby is known for its commitment to sustainability and green spaces. The city has numerous parks, gardens, and natural areas that provide residents with ample opportunities for outdoor activities. The Burnaby Green Team and other community groups actively promote environmental stewardship and sustainability initiatives.

Summary

Burnaby is a thriving city that offers a perfect blend of urban amenities and natural beauty. Its strategic location within Metro Vancouver, diverse real estate options, and excellent public transit make it an attractive place to live for families, professionals, and students. The city’s rich cultural scene, abundant green spaces, and strong sense of community further enhance its appeal.

Whether you are looking for a high-rise condo in the bustling Metrotown area, a spacious family home in a quiet neighborhood, or a townhouse in a vibrant community, Burnaby has something to offer. Its dynamic real estate market, combined with its numerous attractions and high quality of life, make Burnaby a top choice for residents and investors alike.