There are several run-ups to witness when you are looking for real estate opportunities in Kelowna. Rewind to 2010 and you are likely to come across poorly-launched projects. Move ahead to 2021 and you will notice people moving toward Kelowna markets. So, a place that once was good for recreational homes is now the hub of primary residences.
Do you think you missed the train to Kelowna? Well, you might not reap profit overnight if you invest in Kelowna luxury real estate but the market is growing and pretty fast. From attractive cap rates to higher lease rates and the ability to build equity through mortgage payments, there are a good number of reasons why it is the right time to invest in this scenic city of British Columbia.
Reasons to invest in Kelowna
People often ask realtors about investing in the luxury property of this vibrant city. The answer is yes, although a lot depends on what you are looking for. Do your homework and you are sure to find a flurry of opportunities in luxury real estate Kelowna BC. All that you have got to do is pick the right one.
For foreign investors, looking forward to owning luxury homes in this part of BC, the city offers the best opportunity for local investment. The financial conditions are also conducive to buying properties with all-time low lending rates.
Demand for Waterfront
Look around for prime real estate in the city and come across Okanagan homes for sale. It is truly one of the most unique waterfront properties where luxury real estate developments may continue springing up. Why are the waterfront properties desirable?
- The property is expected to appreciate over other types of real estate
- Provides an elevated lifestyle as well as an investment opportunity.
- Want to garner the interest of buyers? With waterfront opportunities, you will get buyers and reap the profits expected.
Kelowna has a new hospital, an international airport, tourism opportunities, real estate developments and so much for people to explore. Research also indicates that Kelowna will have the best climate for the growth of marijuana, which may mean that the city has massive prospects for the growth of industries, and it seems a good amount of industries are expected to grow in this city. With the growth of airports towards Vernon, West Kelowna, and the surrounding markets, a lot of commercial real estate growth can be expected along with residential growth.
Get more returns
Compared to other cities like Toronto and Vancouver, you can rev up your buying power when it comes to Kelowna luxury real estate. Keen to know why? The prices of luxury real estate have gone up in places like Toronto and Vancouver, but the rise of prices in Okanagan is modest. So, the money you pay for owning a townhome or apartment in the desirable neighbourhoods of Kelowna is lower than the primary markets. So, you can expect things like:
- Large yards
- Beautiful landscaping opportunities
- Detached garage
And all these facilities are available at pocket-friendly rates. Ever thought of investing in Sotheby’s Kelowna? Well, turn your head towards one of the biggest opportunities for development and swear by the homes you own in some of the scenic locations.
Opportunities for luxury buyers
Often, luxury is not just about living on the lakeside. It’s just that Kelowna is the place for buyers wanting to experience the Kelowna lifestyle their way. From beautifully-designed family and independent homes to gated communities overlooking vineyards, there is a flurry of ways for luxury home buyers to enjoy the opportunities. But do not make the mistake of thinking that Kelowna is still a farming community with orchards around and a place where summer tourism takes an upper hand. No matter how strong the real estate developments are taking in Kelowna, it is a hub of world-class education besides the burgeoning tech sector.
Are you keen to invest in luxury real estate, which is in the good books of investors? Despite the downturns in the past, Kelowna remains a long-term investment. Invest in Kelowna and get the returns you always expected with luxury real estate.