British Columbia is one of Canada’s most beautiful and diverse provinces, offering visitors everything from stunning natural landscapes to bustling urban centers. With over 8 million visitors annually and a rapidly growing tourism industry, it’s no wonder that many real estate investors are looking to invest in Airbnb properties throughout the province. According to recent data, there were over 40,000 active Airbnb listings in British Columbia in 2021, generating an estimated $1.1 billion in host income.
Investing in an Airbnb property in British Columbia can be a lucrative opportunity for real estate investors, with the potential for high occupancy rates and significant returns on investment. However, with so many cities, it’s essential to research and considers various factors before purchasing. Local regulations, tourist demand, and market trends can all impact your investment’s success, so choosing a location that aligns with your goals and meets the needs of potential guests is essential. In this article, we’ll explore some of the best cities in British Columbia to invest in Airbnb real estate, providing you with the insights and information you need to make an informed decision.
Best Cities in British Columbia to Invest in Airbnb Real Estate
Whistler
Whistler, Canada, entered a new era of tourism after being selected as the host city for the 2010 Winter Olympics. As a result of its year-round entertainment options, Whistler has become one of the most expensive destinations on British Columbia’s Airbnb platform. Although traditionally recognized as a ski resort, Whistler now experiences high occupancy rates in August, its hottest month.
The high demand for accommodation has driven up prices, making it one of the most expensive markets on Airbnb in British Columbia. Additionally, strict regulations are in place to ensure that short-term rentals are operated safely and in compliance with local by-laws. Despite these challenges, being an Airbnb host in Whistler can be lucrative, particularly during peak winter and summer seasons when the town attracts ski enthusiasts, hikers, and outdoor adventurers worldwide.
- Active rentals in total: 3,043;
- Average price per night: $287;
- Occupancy rate: 68%;
- Peak month: January;
- Revenue estimate: $4.231.
Surrey
Surrey, in British Columbia, offers tourists beautiful parks like Serpentine Fen and Tynehead Regional for outdoor exploration. Its cultural institutions include the Surrey Museum and Surrey Arts Centre, showcasing the region’s heritage. Surrey is near Vancouver and the U.S. border, making it a convenient base for exploring. The city’s festivals, like the Fusion Festival and Cloverdale Rodeo, celebrate its cultural and agricultural heritage. Surrey is a vibrant destination with plenty of opportunities for tourists looking to discover the beauty and diversity of western Canada. Starting an Airbnb business here may cause several hurdles if you are a newbie, so the help of a reputable management company will come in handy.
- Active rentals in total: 1,655;
- Average price per night: $117;
- Occupancy rate: 65%;
- Peak month: August;
- Revenue estimate: $1.368.
Richmond
Located just south of Vancouver, Richmond is a Canadian city offering visitors various attractions and amenities. With its rich cultural heritage and historic sites like the Gulf of Georgia Cannery National Historic Site and the Richmond Cultural Centre, the city is a must-visit destination for tourists seeking to explore Canada’s unique history and traditions. Additionally, Richmond is home to numerous parks and green spaces, including the Richmond Nature Park and the famous Minoru Park, providing ample opportunities for outdoor recreation. Given its proximity to Vancouver, Richmond is a convenient base for exploring the surrounding region, making it an ideal destination for tourists.
For Airbnb hosts, the city offers a variety of potential rental properties, ranging from apartments and condos to larger houses. Rental demand can be high, especially during peak travel season, due to the city’s popularity and tourist appeal. Hosts should comply with local regulations to operate their rental property legally and safely. If you want to entrust the legal issues of Airbnb business to competent persons, you can apply for services to management companies, for example, Hearthomes.
- Active rentals in total: 1,346;
- Average price per night: $159;
- Occupancy rate: 64%;
- Peak month: May;
- Revenue estimate: $1.977.
Tofino
Tofino is a popular destination in Canada, the country’s surfing capital. It is an excellent example of a market with high demand and limited short-term rental options.
Local regulations require hosts to obtain a business license, resulting in fewer available rentals. However, this has created a lucrative opportunity for those who receive a license. The limited supply drives up prices and occupancy rates, which can reach 100% during peak season in August. This has made Tofino an attractive location for potential hosts despite strict regulations.
- Active rentals in total: 323;
- Average price per night: $287;
- Occupancy rate: 82%;
- Peak month: August;
- Revenue estimate: $5.422.
Sun Peaks
Sun Peaks Mountain Resort is a top winter sports destination, perfect for skiing and other cold-season activities. February is the busiest rental month, with large properties for families and friends in high demand. Most rentals are entire homes, making up 98% of all available units.
It’s important to note that regulations regarding short-term rentals vary depending on the specific area within the resort. Some properties may require a business license or adhere to particular bylaws, so hosts should research and comply with local regulations. Additionally, the overwhelming majority of rentals in the resort are entire homes, so owners of more significant properties suitable for families or groups may have an advantage in attracting guests. With proper planning and attention to detail, hosting an Airbnb property in Sun Peaks Mountain Resort can be a rewarding and profitable experience.
- Active rentals in total: 432;
- Average price per night: $317;
- Occupancy rate: 60%;
- Peak month: January;
- Revenue estimate: $3.923.