It’s that time of year, the snow has melted, the grass is starting to look a little bit greener and it is supposed to be 14 degrees tomorrow! Take advantage of the Spring weather by exploring some of the amazing hiking trails in Kelowna. Whether you are looking for an evening stroll with the family or a moderate hike to replace going to the gym, we’ve got the top 4 hiking trails in Kelowna for you to explore this Spring.

Paul’s Tomb

lady sitting on a hiking trail located in Kelowna

Knox Mountain – Kelowna, BC

An easy to moderate hike, only a 3 km round trip, and in Downtown Kelowna, this hike has very little incline. Walk your dog (on a leash) while taking in the breathtaking views of Lake Okanagan. This is a great place for an evening stroll or an afternoon picnic with the family. Paul was a Kelowna Pioneer and in the early 1990’s he decided to build a large tomb for his family. This tomb can be viewed near the end of your hike. Not interested in the history behind the tomb Paul built? Enjoy the beach at the bottom of the hike, let your dog grab a quick drink of water, and begin your travel back to the start.

Knox Mountain

Similar to Paul’s tomb, this trail is in Downtown Kelowna with access from Ellis Street. This moderate to difficult hike is only a 1-5km round trip depending on when you decide to turn around! Dogs are allowed but only on leash. If you reach the very top of the hike, take in the spectacular views of Lake Okanagan and the City of Kelowna. If you decide to just go halfway, enjoy the views and finish your hike with a stroll down Paul’s Tomb!

Waterfront Boardwalk

Are you looking for an easy stroll through the City of Kelowna? Then head downtown, park anywhere in City Park, and take your dog (on leash) to Waterfront Boardwalk. This trail can connect you to the Rotary Marshes Wildlife Park. An amazing area where it is common to see eagles, herons, or beavers hanging around! Not only does Waterfront Boardwalk have a ton of things to see but you can also stop by Bernard Street and enjoy all of the local shops and restaurants Kelowna has to offer. If that is not enough reason why this is in our list of top 4 hiking trails in Kelowna list, I don’t know what is!

Kettle Valley Railway

couple biking Myra Canyon Trestles in Kelowna

Myra Canyon Trestles

An easy hike with the opportunity to bike the trails, you do not want to miss out on the Kettle Valley Railway. Over 20km round trip, 18 trestles, and 2 tunnels, this is a hike you do not want to cut short. Take your time and enjoy the views of Myra Canyon. Great family outing on a weekend, as this is something the kids will enjoy as well. Check out the Myra Canyon website for information on the trail and downloadable maps/brochures!

Still looking for a unique adventure? Check out Tourism Kelowna’s website for a full list of hiking trails in not only Kelowna but also West Kelowna, Peachland, and Lake Country. These top 4 Hiking Trails in Kelowna are sure to fill your desire for an evening stroll or to replace your gym workout.

Are you in search of your forever home? Are you looking for a home with access to hiking and biking trails? Contact the team at Vrecko Real Estate Group at 778-760-2860 today!

The beautiful weather is officially here and for some of us, that means time to start exploring the great outdoors. Whether that be walking along our beautiful Okanagan Lake, enjoying the downtown nightlife, or visiting our spectacular wineries. Did I just say wineries? Sure did! We didn’t get the name “Wine Country” for nothing! If you need something to do this weekend,  here are 5 wineries you need to visit in the Okanagan.

Mission Hill Winery

winery located in the Okanagan

Mission Hill Winery

Family-owned and located in the community near Lakeview Heights, is the spectacular Mission Hill Family Estate. Take in the beautiful breathtaking Okanagan views from the Terrace Restaurant where they source local, sustainable, and seasonal food, or sample some of the award-winning wines with their knowledgeable associates. In 1984 this winery won the coveted Avery Trophy for “Best Chardonnay in the World” at the International Wine and Spirit Competition.

Quail’s Gate Winery

Just a short drive from Mission Hill Winery, you will find the amazing Quail’s Gate Winery. Enjoy the expansive views from the outdoor patio and sip on some sublime wines. The family-owned estate is known for its national wine brand and its exceptional wines that are fresh and rich in color and flavor.

Tantalus Winery

Located in the community of South East Kelowna is this spectacular 75-acre single vineyard site. Known for their 1978 Riesling and 1985 Pinot Noir and Chardonnay, this winery was established in 2004 by Eric Savics. This winery hosts amazing events, such as a dinner cooked by the Top Chef Canada Alumni.

Summerhill Pyramid Winery

Purchased by the Cipes Family in 1986, this winery has been practicing organic winemaking. Summerhill Winery has been committed to producing 100% organic wine and in 2012 received Demeter Biodynamic certification. In 2007 the cellar achieved the Certified Organic Status allowing this amazing winery to display the organic logo on their bottles. If you are wondering why this winery chose to go organic check out their website for a short video.

view of Lake Okanagan from winery

Breathtaking views

Sandhill Winery

Located in the community of Downtown Kelowna is this amazing winery that dedicates its techniques to not interfere with the natural flavors of the wine but enhance them. The grapes used for the wine come from six different BC Vineyards which makes this winery very unique. They source out the best and unique combination of soil composition, slope, and sun exposure to ensure they create a wine that is unlike the others.

Needless to say, we are in no shortage of amazing wineries in the Okanagan. These are just 5 wineries you need to visit in the Okanagan this Summer. Aside from having spectacular varieties, awards, and breathtaking views of the Okanagan, these wineries are sure to excite your taste buds.

Affordable Housing and Kelowna’s Infill Policy

For many urban centers in Canada the opportunity for infill housing provides an efficient way to allow for the development of affordable housing.

With the rising cost of real estate there is pressure on communities to look for sustainable ways to provide for more affordable housing. Many urban centers are moving to infill housing as a method to provide liveability and greater density. This is advantageous for the city planners as the cost of infrastructure in existing neighbourhood has already been met and adding new homes incurs little cost to the city. It also takes advantage of many older neighbourhoods that have smaller homes on large lots. These property owners can now build carriage homes, duplexes or single family detached homes as allowed by the new City of Kelowna regulations and guidelines.

The City of Kelowna also sees the value of this strategy for urban planning for a number of other reasons. They write,

Infill housing…  represents an important part of the City’s overall strategy to combat the impacts of urban sprawl. By focusing growth in areas with existing infrastructure (e.g.: roads, schools, parks, transit, etc…), it is possible not only to mitigate the impacts of sprawl, but also to build resilient neighbourhoods with access to daily services, transit and a wider variety of housing options.

A great deal has been written about what make a strong and vibrant city. We hear of Urban Decay and the hollowing out of cities in North America. City managers are conscious of the issues that arise when density in a city drops below a certain threshold. The loss of people in a community can start a downward spiral of lower property values, vacancies and lower city tax revenues. The city models from the sixties and seventies with business and office space downtown and housing out in the suburbs has transformed into a much more complex city plan. Now the desire is to bring people back into the city’s core to revitalize the downtown centers. One of the leading examples of this strategy in North America is Vancouver with its False Creek redevelopments and vibrant city urbanization.

Kelowna has an opportunity to provide infill in a similar way. While we do not necessarily want high-rise towers like False Creek in our downtown neighbourhoods there is a desire to renew and rebuild older neighbourhoods from the forties and fifties into a more sustainable model. This includes many neighbourhoods around the Kelowna General Hospital and between Gordon, KLO and Lakeshore drive area.

These neighbourhoods were created shortly after WWII to accommodate the soldiers coming back from the war. Many homes were built for the lifestyle of the times with large lots to allow for big gardens in the backyards. You just have to talk to Grandma and Grandpa to appreciate that everyone canned fruits and vegetables back then.

These properties now have been steadily updated and built out. In the past ten years, the city has encourages carriage houses or where permitted new duplex housing to go in. Now the city has revised the zoning in these areas to allow for a new RU7 designation. This allows for four unites to be built on a lot that is 64 x 150 ft in size. This might seem like high density but the setbacks are similar to many new affordable housing neighbourhoods like those found in the Upper Mission, Rutland and West Kelowna.

How does this infill plan affect home owners? Many of us want to live in a more sustainable community and this often means being within walking distance of key amenities. Not having to drive everywhere is very desirable and by building infill housing we can bring more people into the center of town and give them access to work, shops, entertainment, restaurants and parks. This takes pressure off of our streets and builds a strong sense of community as more people work and play close to where they live. Living in a community means you have a stake in that community and a healthier city results.

These homes are also smaller in scale then many in the suburbs. By providing opportunities to build smaller homes you create more affordable housing for those wanting to downsize or for first time buyers. With the overheated markets in Vancouver continuing to put pressure on housing prices this approach by the city planners can help create more opportunities in the market for home ownership.

To learn more about infill housing please visit the City of Kelowna Website at Infill Housing or contact the team at Quincy Vrecko and Associates 1-778-760-2860!

Single Family Home in Kelowna

A three bedroom two-bathroom home has been the quintessential single family home for decades. This size and style of home has gone through a wide variety of floor plans over the years. You may be surprised to find out that few new home construction projects are built to this specification in Kelowna these days.  There are many good reasons for this that relate back to the trends and pressures on the housing market in Kelowna.

We recently had a listing for a three bedroom + den home in the Lower Mission. Which had all the bedrooms on the top floor. This style of home was popular in the 1980s. With the main floor dedicated to family living spaces that included the living room, kitchen and separate dining room. It is almost impossible to find a home plan today that features all of the bedrooms on the top floor.

The style now is to have the master on the main floor and provide a rancher style experience. Even though the house is 2 or 3 stories and put the other bedrooms up or down. To build a true rancher style home today is very expensive. The size of the foundation, size of the lot, size of the roof, distance for heating and plumbing all increase the cost as your spread out the living space.

To be efficiently in home construction you need to look at strong floor plan designs that take advantage of stacking bathrooms and laundry rooms above and below and often close to the Kitchen. Good designers try to minimize the materials used in a home to make building project more sustainable and environmentally friendly. You may not know this but the home construction industry is not traditionally a sustainable process. It uses a tremendous amount of resources and energy to build a home.

When you think of the size of the lots and what the city allows as a footprint for the property you soon realize that a smaller three bedroom family home does not optimize the area available to build. If you are including a basement or second floor it makes sense to add another room and build a four or five bedroom home as it add little extra cost to the overall project. As a result there is a shortage or new single family homes that are 3 bedrooms in size.

To support the single family home for first time buyers or empty nesters developers have been requested by the city to include smaller lots that accommodate these smaller homes. You can see this happening in The Ponds development in the Upper Mission. Where a mix of detached single family homes and town homes have been built. Still the bigger margins for the developers are in the larger homes. Which create a premium on these smaller size houses.

What is the outcome?

With new home buyers not able to afford the larger properties, or find what they want in a single family home. The choice moves over to town homes and condominiums. The city of Kelowna has approved a number of new developments that are focusing in on this type of single family home, or single family town home. This makes a great deal of sense for a city that is focused on trying to control urban sprawl and create vibrant and healthy neighborhoods in existing areas of the city.

If you are looking for a terrific three-bedroom single family home and can’t seem to find what you are looking for give Tracey and her team at Quincy Vrecko and Associates a call (1-778-760-2860). They can help you locate that hard to find property in the Okanagan Valley.

Couple Analyizing the Kelowna Market Trends

The local Kelowna Real Estate market has many people talking from home owners to investors and developers. The interest stems from changes in local zoning as well as our community’s growth and outlook for 2017.

If you have been following the buzz about Okanagan Real Estate and the number and types of building projects in the area you will appreciate that we are one of the best communities in Canada for growth currently. While industry and real estate experts predict a slowing trend in 2017 we are still a hot market to be involved in. Here are a few stats from The Canadian Real Estate Association.

  • 520 homes sold in February in the region (Revelstoke to Peachland) 572 homes sold in the same period last year.
  •  Average days on the market for a home was 87 which is shorter then last years at 96
  • Prices have risen 13% over last year’s average. The home price median is now at $480,052.

Statistics for the Kelowna Real Estate market are influenced by a number of factors. One key issue is the number of properties for sale in the region. The availability of homes for sale is down 30% over the same period as last year. This low inventory of homes causes upward pressure on the price of Okanagan homes.

Another key factor in the market is the influx of new residents in Kelowna. Our current vacancy rate for rental property is very low at 0.7% and the fastest growing demographic is ages 25 to 34. This younger group are starting families and looking for family homes or rental properties. This trend is creating opportunity for builders. We have several large-scale townhome and condominium style properties under development in Kelowna and area to try and fill this specific need.

The city is aware of this pressure for affordable housing and has recently approved a change in zoning from RU6 to RU7. Which allows for Infill development in the center of the city. This is a conscious decision by the city planning department to create new building opportunities that provide rental units and homes at a more affordable level.

Another trend in the local Kelowna Real Estate scene is the origin of the buyer. CREA has been tracking this statistic for a number of years now and we see that 55% of the homes are being sold to people from the Okanagan Valley. A shift in out of town buyers has occurred with 20% now coming from Vancouver and the Lower Mainland and only 10% from Alberta. Prior to the Alberta market falling into recession these numbers where reversed as we saw a larger influx from Alberta during the oil and gas boom.

Some peripheral factors are also occurring which we should be aware of. These include the world class education we now have available in Kelowna at UBCO. This University has an exceptional reputation in Asia and the opportunity the Okanagan campus presents is not unnoticed. We also have a concerted effort by our School District to attract International students to Kelowna and we are considered one of the up and coming high tech hubs in Canada.

For Family homes and first time buyers the top three include families with Children at 26%, Couples without children at 24% and empty nesters at 20%. First time buyers are a strong influence in the marketplace and account for 21% of the homes being sold. This aligns with the 24 to 35 age group we noted earlier.

To learn more about the Kelowna Real Estate market and homes that are available for sale in your area contact Tracey Vrecko and the team at Quincy Vrecko and Associates 78-760-2860!

Are you looking to buy your first home in Kelowna? Check out Things you need to Know Before Buying your First Kelowna Property.

Are you getting tired of Winter? Does the cold weather have you dreaming of a warm vacation? Well then, it’s time to leave your Kelowna home and jet off on a direct flight from Kelowna to a warm destination such as Mexico, Phoenix or Las Vegas.

sandy beach right on the ocean

Fly Kelowna to Cancun

As the population of the city of Kelowna grows, so does the demand for more non-stop flights to sunny destinations when winter goes on a little too long.  These direct flights from Kelowna to warm destinations will be sure to give you the jolt of heat you need.

Kelowna to Cancun

The direct flight from Kelowna to Cancun Mexico is only 5 hour and 45 minutes to paradise and averages only $600 per person return (plus taxes and fees).  This area is a popular destination for travellers with beautiful sandy beaches and crystal blue waters.  The average high temperature in the Spring is 32.  Cancun offers best of both worlds with local culture and high end shops and restaurants making this warm destination an easy decision.  There are many options for accommodations from rustic, eco chic to luxury resorts to pamper your senses.

Kelowna to Phoenix

Phoenix is a popular destination for Canadians, with a desert like climate and active real estate market.  In the downturn of the US housing market this area was a popular place to buy winter home where snowbirds come 6 months of the year.  This warm destination in the Spring has a high of 29 and this 3 hour flight averages $360 return (plus taxes and fees).  Phoenix has a great lifestyle to offer and sprawls over 8 suburbs,

  • Chandler
  • Gilbert
  • Queen Creek
  • Anthem
  • Avondale
  • Glendale
  • San Tan Valley
  • Goodyear

There are amazing golf courses, shopping, great restaurants and nightlife and not to mention a relaxing laid back environment.  This is the place to go to relax and enjoy the sun where you can still enjoy city life.

view of Las Vegas

Kelowna to Las Vegas

Kelowna to Las Vegas

If it’s a little excitement you’re after, Las Vegas is the place to go.  For just $580 per person return (plus taxes and fees), this direct flight from Kelowna is only 2 hours and 35 minute where you can rest for the exciting vacation ahead.  Temperatures in Las Vegas range in the Spring are around 26 but guaranteed to sizzle.  Choose from the many resort and casinos for your stay all catering to the senses with over the top displays and amazing food choices.  Las Vegas is humming with activity.  You can experience this warm destination by walking the Vegas strip, lounging by the pool, out on an excursion or shopping in the open malls.  If you have been once, you will be planning to come back, as you know the saying “what happens in Vegas, staying in Vegas”.

If you are looking for a quick direct flight out of Kelowna, then Cancun, Phoenix, or Las Vegas may be the trip for you! Get the jolt of heat that you need before the Spring hits. Who can say no to a beautiful vacation, beautiful beaches and over 20-degree weather with no snow?

 

320 Poplar Point Drive – Listed with Quincy Vrecko and Associates

And the winner is…320 Poplar Point Drive.

On Saturday January 28th, 2017, were the annual Tommie Awards. One home gets the coveted Grand Tommie award of “Home of the Year”. Not only did 320 Poplar Point Drive win Gold for Home of the Year but they also won Gold for Excellence in Single Family Detached putting the award winning home on the map for Luxury homes in Kelowna.

This one of a kind waterfront home is worthy of it’s title of Home of the Year. Extensive planning went into the creation of this spectacular Kelowna property offering 5000sq.ft of luxurious living space perched above the waters of Lake Okanagan.

The owners of this award winning home in Kelowna were involved in the day to day creation of this masterpiece and when asked what inspired them, they commented,

“We lived on the property in this little waterfront beach house for over a year before we started the build.”

A vision for the home was to look as though it was floating on water.  With the use of steel beams and creative architecture, the home hovers over the shores of Lake Okanagan allowing the illusion of this amazing structure floating on the lake below.

“We wanted to study everything; views from different vantage points, the land, the mountains, the water and the sun setting each season in order to create the perfect waterfront home” comments Norman the resident architect.

The project was 3 years in the making with every detail meticulously planned to create this one of kind waterfront home.  This award winning home in Kelowna is listed as a turn key property including furniture, art and accessories which were all hand picked for each space.  Listing agent Quincy Vrecko comments,

“It’s not just an amazing waterfront home, it’s a lifestyle, it’s the whole package”

From furniture to finishing’s only the best, highest quality materials were chosen for this award winning home. The furniture was custom made for each space.  From built-in walnut cabinetry in the office to the accent pieces built with wood and steel to accent each other. The original art was picked and hung by the curator of Sopa Art Gallery.  Every piece complements the space and finish of every room.

Top of the line technology allows the homeowner to control the entire home with the touch of a button.  Set lighting, control sound and even adjust the sun shades with the ease of a smartphone from home of afar.

“This is my favorite part of the home” says Wallace referring to the master suite, “we really wanted to make sure the exact position of this room to point in the direction that had the best views to wake up and fall asleep to”

This award winning home is also equipped with a custom-built 270 wine bottle cellar which was the last detail of the home to make it complete.  It was important to the home owners to get it perfect and when faced with obstacles taking design to build, they searched until they found the right person to make it happen.  “I was told it couldn’t be done” says Wallace “but I knew there was a way, I wanted it to be perfect”.

The outdoor living space sprawls over 2000 square feet and continues down the water’s edge.  To capture the essence of Okanagan outdoor living there are multiple lounging spaces for every time of day.

The upper deck just off the dining room, floats about the water and is shaded by an automatic slat above that change direction as the sun moves as well as a see through wind shield if it gets breezy.

Down below is a cooler covered deck when looking for a retreat from the summer sun.  This area has comfy loungers and built-in television you will never want to leave.  Across from the lounge is a built in bar for smaller intimate get togethers with friends.

Soak in the sun and take in the view on the loungers in the Zen like patio with water feature behind taking you into deep relaxation.  The sunken hot tub has sound wired throughout the pergola above.  As the sun goes down, this area is transformed into an entertainer’s paradise with fire pit and roll away custom furniture to set up any party.

To view the additional photos, HD video and the Virtual Reality 3D tour of this award winning Kelowna Waterfront home visit 320 Poplar Point

 

Team of Quincy Vrecko and Associates

Meet Tracey Vrecko, business partner and wife of Quincy Vrecko. Who has been selling Kelowna real estate since she moved to the Okanagan in 2009.  Before that, she Tracey Vreckospent 6 years selling real estate in Alberta, climbing the sales ladder to the top.

Tracey plays many roles outside of selling Kelowna real estate and working with her clients.  She oversees the sales marketing for Quincy Vrecko and Associates, management of the sales team and is a busy mom of 2 boys.  She is skilled in time management to ensure success in all she does.  Tracey also takes time to give back to her community that supports her. By volunteering her time as a director on the board for Autism Okanagan and skis with Powderhounds, an adaptive ski program for children and adults living with disabilities.

Tracey has always had a passion for sales.  Her competitive spirit and drive to succeed has made her one of the top performing real estate agents for RE/MAX Kelowna.  Her clients describe her as patient and focused. They have complete trust in her to look after their best interests when buying and selling real estate in Kelowna.

Tracey is proud to be a woman in business, and when asked about her career, Tracey comments,

 

I love selling Kelowna real estate. I live in the best city in Canada doing what I love. I’m very fortunate to have the support to be both a great mom and a woman in business.

Tracey VreckoTracey grew up in Winnipeg, Manitoba and moved to Alberta in 2001.  There she met her husband Quincy, and they lived in Calgary for 12 years.  After the birth of their 2nd son, they searched for the best city to raise a family with a great climate…and that was Kelowna.  Since their move, they quickly grew roots and never looked back.  Tracey and her husband Quincy live in the lower Mission with their 2 boys, Gabriel and Paxton and 2 Bulldogs Jax and Jemma.

Tracey is a leading Kelowna real estate agent working in the Downtown RE/MAX Kelowna office.  She and her husband Quincy have built one of the best real estate teams in the Okanagan.  While her husband Quincy specializes in Luxury Real Estate, Tracey and the team focus on family homes, first time home buyers, condominiums and townhouses and investment property in Kelowna.

Design Ideas for When you Lack Outdoor Space

Spring is officially upon us and the snow is finally starting to melt and we’ve got some great design ideas for when you lack outdoor space! Time to start thinking of ways to take your Kelowna backyard to the next level. In the Spring and Summer months, a backyard is a place of gathering for friends and family. It is a place where you enjoy spending the morning drinking a cup of coffee and in the evenings a nice glass of Okanagan wine. If you are struggling with how to design your small backyard, fear not! We’ve got some great design ideas for when you lack outdoor space that will take your backyard from boring to creative all with one trip to your Kelowna big box store!

Be Creative with Storage

If you are lacking outdoor space chances are you are lacking outdoor storage as well. Time to put your thinking cap on and get creative with your storage spaces. Invest in a multifunctional patio table so you can store extra blankets or pillows inside of it while not compromising your outdoor space.

Foldable Furniture

A great option if you lack outdoor seating is to add a few foldable chairs to the mix! Not only do they take up little space but they also fold up nicely and can fit under your outdoor seating or up against a wall when not being used.

Create Multifunctional Spaces

The best way to maximize your outdoor space is by creating spaces that can be used for multiple purposes. Ideally, you want spaces that your kids can use during the day than be transformed into an adult area for your guests at night. Think of a sturdy patio table, inexpensive outdoor furniture, and shatterproof glassware.

Use Mobile-Friendly Serving Carts

Don’t have room for a patio table to place your appetizers or wine for your guests? A great alternative is to use a rolling cart. This cart can be stored inside of your home and can be rolled out to the patio when needed – not to mention they are really trendy!

Go Vertical

Always dreamed of a beautiful garden but don’t have the outdoor space to fulfill those dreams? Not a problem! It’s becoming more and more popular to have a vertical garden. Pick an exterior wall to make your dreams become a reality.

It’s all about thinking of smart and multifunctional design ideas for when you lack outdoor space. You would be surprised by how your backyard will look after you transform it with our tips!

Are you getting your home ready to sell? Take advantage of the time and advice given by our expert Kelowna Real Estate team, which ensures your home is in its best shape to set your sale up for success. Get in touch! 1-778-760-2860!

When we think of Okanagan Real Estate and our local housing market we tend to think in terms of our own requirements. What type of home do we need, what can we afford, what are the mortgage rates and the required down payment? Then we look for amenities, services, and shops and what are popular Okanagan real estate neighborhoods.

What you may not consider are external factors and how Okanagan real estate appeals to a larger audience. One such influence is a foreign investment and how it affects realOkanagan Real Estate estate in BC. Canada is the 10th largest economy in the world and three of the larger economies – China, Japan, and Korea, are all Pacific neighbors and a relatively short flight from Vancouver and YLW.

FOREIGN BUYERS

Having BC as a destination to move to and invest in is not a new phenomenon. Thirty-five years ago there was a concerted effort to attract families from Europe to relocated and buy Okanagan real estate. Large immigration from Germany came to the Okanagan Valley in the late ’70s and ’80s. More recently similar campaigns focused on South African families. And now a steady rise in foreign investment from China and Korea is forcing prices in Vancouver to record highs.

Foreign buyers are not just interested in buying an investment. They are also sending their children to schools in BC and looking long term at what the Okanagan lifestyle has to offer. They want a real estate investment that is in a stable country, has a strong economy a high level of confidence and quality of life. Their children might stay in Canada and they may retire here. Hence, why Okanagan real estate appeals to a larger audience.

Tracey Vrecko comments

“BC is attractive for several reasons with the Asian market. They value our education system, our strong economy, our proximity on the Pacific Rim and our amazing lifestyle. Why not invest in Okanagan Real Estate if you are looking for an alternative to Vancouver.”

In the Okanagan, foreign investment in real estate has not hit the astronomical levels of Vancouver or Toronto but it is still a factor. Real estate investors are looking for growth markets and Kelowna is showing tremendous promise.

We have several winning indicators:

  • Extremely low vacancy rates
  • Strong real estate sales
  • Booming new home construction market
  • Record level of townhome, condominium and high rise tower developments underway
  • Low-interest rates
  • A pro-development city council

Okanagan Real EstateLast Fall, Vancouver imposed a 15% foreign ownership tax to stymie speculation in the Vancouver real estate market. Now, these offshore buyers may turn their sights on communities like Victoria and Kelowna for real estate investment opportunities.

One thing is certain and that is wealthy families’ abroad view BC as a safe and desirable location to send their children to school, invest in property and start businesses. If these trends continue then Okanagan and surrounding area will continue to expand. Vancouverites will continue to sell their homes and move to the desirable Okanagan and the Okanagan real estate continue to appeal to a larger audience.

If you are starting to consider investing in Okanagan real estate, check out our previous blog or contact one of the knowledgeable associates Quincy Vrecko and Associates 778-760-2860!