New short-term rental restrictions have undoubtedly impacted real estate in Kelowna. With the initial legislation now in effect, property owners will be required to comply with the government’s regulations. For some, this might mean attaining a business license. For others, it could mean finding a new way to boost property value. Regardless of what course […]
New short-term rental (STR) legislation that was proposed in 2023, is finally about to take effect come May 1. The proposed changes were intended to provide stricter enforcement tools for local governments, new requirements for STRs, and new regulatory authorities to oversee operations. However, following pushback from numerous British Columbia residents, the government has made […]
After exiting the pandemic, Canada’s housing market boomed. With borrowing rates at all-time lows, many buyers had more power than in previous years. This allowed several Canadians to acquire homes that they wouldn’t normally be able to afford. As a result, numerous buyers capitalized on the below-average rates. Fast forward to the present-day market, and […]
Kelowna’s real estate landscape finds itself at a crossroads, shaped by immigration, short-term rental restrictions, and pressing affordability concerns. The city’s robust population growth, becoming the fastest-growing Census Metropolitan Area (CMA) in Canada, has intensified the demand for housing. With a 14% increase from 2016 to 2021, reaching 222,162 residents, Kelowna is witnessing an unprecedented […]
2024 is finally here! If you are looking to buy or sell houses for sale Kelowna BC, you’re in the right place. Homes in this region of the Okanagan are undergoing significant changes as a result of changes in provincial and municipal legislation and new market dynamics. The end of 2023 was left on an […]
In Central Okanagan, the residential real estate market experienced a notable slowdown in December 2023 due to persistently high-interest rates, according to the Association of Interior REALTORS®. The area recorded 528 residential unit sales, marking a 12.4% decrease from December 2022 and a substantial decline from the previous month’s 813 units sold. Despite this, there […]
In the Central Okanagan region, the residential real estate market experienced a slight slowdown preceding the holiday season, as reported by the Association of Interior REALTORS®. November 2023 saw 813 residential unit sales, reflecting a 5.9% decrease compared to the same period in 2022 and falling below October’s figures of 977 units sold. Despite this […]
December is finally here! As 2023 comes to an end, we’d like to thank everyone who took time out of their day to engage with our blog. This year’s content included everything from neighborhood-specific articles to valuable buying and selling tips. In keeping with our annual tradition, we are going to be dedicating this month’s […]
The real estate landscape in British Columbia is experiencing a notable deceleration, with various factors contributing to this slowdown. High interest rates, coupled with looming recession fears and economic uncertainties, have led to a substantial backlog of potential buyers waiting for market adjustments. Despite sluggish sales and a rise in available options, the price of […]
