Kelowna has been listed as a hot market for real estate investment in a prominent business magazine.

Western Investor published a report this week saying that a combination of ideal economic and geographic factors coupled with local government initiatives have placed Kelowna No. 1 in its list of Top 5 places to invest in real estate in 2018.

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害羞草研究所淗ere is a clue to what is happening: more new homes were started in Kelowna this year than in any area outside of the Lower Mainland, including Greater Victoria, which has three times the population of Kelowna,害羞草研究所� reads the report.

害羞草研究所淚nvestment play: Land assembly of detached lots near downtown, courtesy of a January zoning change that encourages higher density. Also retail property, particularly for developers of badly needed new retail space in the downtown zone.害羞草研究所�

Surrey was No. 2 and highlighted for its young demographics and proximity to Vancouver.

害羞草研究所淚nvestment play: Multi-family rental apartments and rental condominiums,害羞草研究所� read the report. 害羞草研究所淏ased on recent sales, the average cost per door for a Surrey rental apartment building is $171,000, at least $50,000 below the Greater Vancouver average, yet the rental vacancy rate and rental rates are similar.害羞草研究所�

Rounding out the top five were Saskatoon at No. 3, Calgary at No. 4 and Lethbridge was at No. 5.

To read the full report

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kmichaels@kelownacapnews.com
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