Vancouver, Toronto, Victoria and other cities are places with high prices, high taxes and are making more and more young people with small families decide to move to places with lower prices. At the same time international investors are also looking to the small and medium-sized cities. Kelowna is the fastest growing city in BC, the most attractive place for immigrants, locals and investors. Okanagan Lake area is becoming a Canadian real estate star.
So lets compare the prices of each city so that we have a clearer concept of what you can get for your almighty dollar.
Victoria
2016 average price: $616,066
The house is priced at $988,000, 3000 sq ft (278 sqm) at James Bay.
Vancouver
2016 average price: $891,705
The home is located south of Vancouver and costs $999,000.
Vancouver
This home is located in Vancouver Hastings-Sunrise, 1700 sq ft (157 square meters), 4 small rooms for $998,000.
Okanagan Lake area
High-end luxury MLS#：10129408
The house is 5 rooms and 5 bathrooms, nearly 6000sq ft (558 square meters), 0.22 acres of land (890 square meters), located in Kelowna's Upper Mission, the best district Kettle Valley, good law and order, school district is good. Solid wood flooring, outdoor swimming pool, jacuzzi, central vacuum, marble counter top, natural gas fireplace. Built in 2009. The price is $1,295,000. The price in Vancouver or Toronto can only buy a worn little house or downtown apartment.
Kelowna
Mansion
The house is 5 bedrooms and 4 bathrooms with 2 kitchens, 3600 sq ft area, the equivalent of 336 square meters. 2016 new building. No GST. Quartz stone counter tops, solid wood flooring, double garage, natural gas fireplace. Located in the area of Kelowna Upper Mission, overlooking the city and Okanagan Lake. Near primary schools and shopping center. The price of this house is $799,888. MLS® #: 10128955
Kelowna
Ordinary independent house
This home has 5 rooms and 3 bathrooms, 2400sq ft, 0.19 acres of land, built in 2002, with hot tub, mountain view. The price is $569,000.
MLS® #: 10123056
Kelowna
This detached house has 5 rooms and 2 bathrooms with 2 kitchens. The basement has 2 large rooms and 1 living room. The basement can be rented for about $1300-1400 per month. The home is 2280 sq ft (211 square meters) with 0.22 acres of land (890 square meters). Newly renovated, new roof, water heater, heated stove. The price is $524,000.
MLS #: 10127615
As can be seen from these pictures, most houses in Kelowna range from $200,000 to $600,000 in 2016-2017, including apartments, conjoined houses, detached houses and so on. House prices grew steadily in 2016, but the average house prices were below $600,000.
Kelowna housing vacancy rate close to 0%, rents rise quickly. Kelowna a room apartment has been more than $ 1000 a month. (Reference: Kelowna Daily Courier)
The Kelowna region has low housing prices, whether it is self-occupied or investment rental, Kelowna real estate is no doubt a good choice.
Kelowna Chinese Real Estate Team
LetnickEstates.com
