Kelowna Becomes Western Canada’s Investment Hot-Spot
Kelowna Becomes Western Canada’s Investment Hot-Spot
While the weather may be cooling down, Kelowna’s housing market continues to heat up. Western Investor just selected Kelowna as the #1 hot-spot for real estate investment in Western Canada, largely due to our city’s increasing levels of housing production, office vacancy rates, and high-volume airport traffic despite the current population size. With a lot of new units under construction and no signs of slowing down, the residential, commercial, and industrial markets are all set to succeed this year.
And it looks like we’re not the only ones – the MLS is reporting that BC’s overall home sales increased 19.3% year-over-year in October, with Greater Vancouver area sales increasing a whopping 45%! With all this activity, the average price of a home in BC has gone up 5.1% according to BCREA.
Are you as excited as I am? Let’s talk about how to make the most of this incredible local market potential!
Additional Reading
Budding Spring Market
The sun is shining, patios are opening, and the Kelowna real estate market is blooming. Despite some unexpected variables this year - like the introduction of the ‘Flipping Tax’ and the short term rental restrictions that will soon go into effect - market activity is...
To Flip or Not to Flip
The BC real estate market is about to see another major change coming in January 2025. A newly proposed tax presented by the provincial government in their yearly budget - commonly referred to as ‘The Flipping Tax’ - aims to decentivize short term purchase investments...
Incoming Inventory
As we slowly make our way into the New Year, the usual speculation about future market conditions continues. Like we talked about last month, there are plenty of market influencers to consider in early 2024 that will set the tone for the rest of the year, like the...
