About Real Estate In The Okanagan

Kelowna is Canada's leading wine-growing and tourist destination. It is also one of Canada's liveliest cities. Having a temperate maritime climate, hot in summer, mild in winter, more hours of sunlight, large fresh water lakes, high forest coverage, all help provide the residents and visitors of Kelowna numerous outdoor leisure activities to choose from. More and more tourists from China, the United States, Europe, Vancouver and Toronto come to Kelowna and right away fall in love with it. Escape from big city noise and endless traffic james, the absence of skyscrapers or cement forests, make Kelowna an attractive place to live.

You can drive to the city center within 15 minutes from all areas of Kelowna. Take your children to the beach, go skiing at Big White Mountain Resort, or go swimming, boating and fishing on the Lake. Kelowna is definitely a great place for families to live, work and study.

There are some of the province's most reputable primary and secondary schools within the Okanagan including but not limited to: Okanagan College and University of British Columbia (UBCO) where many overseas students choose to enroll in ESL and exercise their English and independent ability.

Compared to Vancouver and Toronto, which have large Chinese circles, Kelowna's Chinese circle is smaller, more united, with a friendlier closer-knit group of people. This can help new people really feel like they are part of a great community.

There are also many Chinese restaurants such as the "Tradition" Restaurant in the centre of the city, where you can savour the tastes of your hometown. "O-Lake Café" has an amazing cup of hot chocolate for those winter months, "Okanagan Pizza" has some of the best pizza in town, "Mi Ne Sushi" is great for a convenient and delicious Japanese food option, "88 Grand Buffet" is good for family dinners or birthday parties, "Sun Asian Market" for your one-stop Asian grocery shopping, and "Formosa Cafe" for your Bubble Tea fix.

Kelowna is the next big centre of British Columbia and the property market is only getting hotter. Many that come here are skilled migrants, investment immigrants and students; so now the real estate industry is flourishing.

Kelowna's job market is also rapidly growing, most notably in the high-tech IT industry, construction, emerging energy-saving technology, catering, tourism, agriculture, and real estate industry. The town needs more skilled workers, so many young families are moving to the Okanagan because of these jobs.

Kelowna House Price

PNP BC Provincial Nominee Program are more likely to have capital requirements in the lower central region of Vancouver, plus more local families, young people and retirees migrate to Kelowna, where Kelowna is experiencing an unprecedented increase.

In 2022, benchmark price for single family home is $1,094,000, townhome is $739,400, condo is $550,700.

Within the last 10 years, this is the largest increase.
More and more cost-effective high-end residential, independent houses, and townhouses are being built to satisfy demand, however inventory remains low.
Kelowna home inventory is declining because more and more people are moving to the city and so prices are climbing.

We predict that in the short term, Kelowna's house prices will start to flat line and possibly raise slightly in 2018 but may start to deflate in early 2019 depending on many economic and political factors. Detached house still has a unique advantage.

Downtown, Lower Mission, UBC University apartments are also welcomed by overseas buyers and young people.

Rental properties in Kelowna are also a good investment in real estate in Kelowna this year as the vacancy rate is close to 0% in 2017 and once there is a vacant room many renters scramble to showings. Many families have decided to buy a detached house, living upstairs with their family, and renting a legal suite downstairs. Or rent an apartment without rent restrictions.

If you're ready to come to Canada and do not know where to settle down; if you've had enough of the hustle and bustle of the metropolis; if you want to live close to nature and live in picturesque places every day, Kelowna is a very nice option!

Kelowna home price