It was recently published on PadMapper that Kelowna has the 10th highest rental rates in Canada. Another way of looking at it is Kelowna has the 10th highest rental incomes in Canada.
We found this information on a castanet blog post which you can find here: http://www.castanet.net/news/Kelowna/171191/Top-10-in-high-rental-prices
When you look at the current prices in the Lower Mainland and add on top of that a new 15% foreign investor land transfer tax; it won’t be a surprise to see a fair amount of money flow into the Okanagan by investors looking for a good deal.
Right now you can buy roughly 3 income properties in Kelowna for the price of 1 tear down home in Vancouver. We also don’t have the supply to support all the buyers in the region so you can expect the housing prices to continue to go up.
In another post from Castanet (http://www.castanet.net/news/Kelowna/172215/More-buyers-than-properties#.V6FU8PFotZ8.facebook) they touch on the data regarding the amount of buyers vs the suplly available in Kelowna. My personal view is that with the huge demand, low supply, new lower mainland 15% foreign investor tax and a continued low interest rate for mortgages; the housing prices will continue to climb in Kelowna for at least a few more years unless something drastic happens.
If you are looking for a knowledgeable real estate professional in the Okanagan area, feel free to give me a call directly on my cell: 778 363 1314
~ JP Letnick
如果你正在寻找一个奥肯纳根湖地区知识渊博的房地产专业人士，请随时给我打电话：778 363 1314