Okanagan News & Blog

Okanagan centre seeing a growth of 14% from 2016 to 2021

Western Investor · 10 Feb 2022 · Western Investor Staff

Okanagan centre has seen growth of 13.8 per cent from 2016 to 2021 to more than 144,500 people, latest census data shows

Realtor, lawyer sued after failing to disclose foreign-buyer's tax

The Vancouver Sun · 08 Feb 2022 · Keith Fraser

A realtor and a lawyer in Kelowna have been found mostly responsible for failing to advise a couple from Britain that they would need to pay B.C.'s foreign buyer's tax upon the purchase of a home in Kelowna.

34 Storey tower in downtown Kelowna hopes to begin construction by mid 2022 | UBCO

Western Investor · 12 Jan 2022 · Wayne Moore

Overall design of the 34 storey tower will include approximately 390,000 square feet of space, featuring a medical clinic, commercial retail units, eight storeys for academic use, two storeys of office space and 24 storeys of student housing with 324 units. Th…

Kelowna unveiled a proposal with a mix of commercial and real estate development

Western Investor · 15 Dec 2021 · WI Staff

A large piece of Kelowna, B.C.'s north end redevelopment puzzle has come into focus, after it was announced Mission Group has purchased the former BC Tree Fruits packinghouse adjacent to the former Tolko mill.

A stronger-than-ever e-commerce market, demand for space will likely accelerate through 2022

Western Investor · 09 Dec 2021 · Josh Gaglardi

The Interior and Vancouver Island can be part of the solution. Within the pandemic and post-pandemic "new normal", more people will be relocating from the Lower Mainland to other communities in the province. Our transition to remote work, and newfound apprecia…

Homes Listed breathtaking view waterfront in a lesser price than a condo

Western Investor · 16 Jul 2021 · Frank O’Brien

According to the Royal LePage Recreational Property Report for 2021, the average B.C. waterfront cottage sells for $800,000, and spikes to the $1.8 million range in the Okanagan, with prices up about 14 per cent this year as compared to 2020.…

Average prices are up to 29.4% even the pandemic hammered in 2020

Western Investor · 28 Jun 2021 · Frank O'Brien

"This is an exciting time for our company. After many years of owning the land and careful consultation we look forward to building this significant residential community" said Dave McAnerney, CEO of Stober Group. "This is a showcase project for our company."…

18-hole Michaelbrook Golf Club sold for $6,050,000 Million located at Kelowna’s Lower Mission

Western Investor · 12 Apr 2021 · WI Staff

The 53-acre course, which is in the Agricultural Land Reserve, was originally developed as a turf farm in the 1970's by the Dumaresq family, of which several members still live in Kelowna.

36th storey tower - worth $10 million highest-priced condo listing in the history of Okanagan

Western Investor · 10 Mar 2021 · Mariam Halpenny

The unit features floor-to-ceiling windows and gives people a 360-degree view of Kelowna's downtown, Lake Okanagan and surrounding mountains.

190-acre residential development in Kelowna, sold for $22 million

Western Investor · 25 Jan 2021 · Frank O’Brien

A Manitoba buyer has made history with the $22 million purchase of a 190-acre residential development site in the hills above Kelowna in the central Okanagan.

34-storey condo tower in downtown Kelowna

Western Investor · 18 Sep 2020 · Frank O’Brien

Mission Group, the largest developer in the Central Okanagan, has launched a new 34-storey condo tower in downtown Kelowna that, while marketed as lifestyle choice, has all the earmarks of a rental investment opportunity.

5 storey luxury commercial complex sells for $55 million, New Kelowna

Western Investor · 02 Sep 2020 · Marcus and Millichap

he new five-storey, 175-unit purpose-built luxury rental complex in Kelowna, B.C.'s, Glenmore area was sold upon completion to Toronto-based Centurion Apartment Real Estate Investment Trust.

Province applied to court to a Mexican Businessman to produce documents in a B.C forfeiture case

The Vancouver Sun · 22 Aug 2020 · Gordon Hoekstra

The province has applied to court to force a Mexican businessman to produce documents in a B.C. forfeiture case. The case involves Kelowna-area properties that the province alleges are linked to a $200-million-plus international stock fraud. In an application …

Chelsea Estate 9747 Cameron Road Vernon 234 acre waterfront property for sale

The Province · 15 Jun 2020

The caveat is that 190 acres of the estate are in the Agricultural Land Reserve, and aren't ripe for development. But the property is already divided into 11 separate land titles, nine of which have waterfront on Okanagan Lake.

Ariva 1770 Old Ferry Wharf Road Westbank Kelowna 37 condos in first phase by Barry & Kevin Johnson-Ariva Resorts

The Vancouver Sun · 14 Sep 2019

Ariva, a new project planned for Westbank, is being designed as a downsizer destination for active empty-nesters.

Century 21 survey reveals steep decreases in home prices

REP · 12 Sep 2019

BC's decreases are led by some significant downturns in Vancouver, many suburbs in Metro Vancouver, and even some markets on Vancouver Island and the Okanagan seeing declines of 10-20% year-over-year in the first 6 months of 2019.

Developer Ariva Resorts announces new 200 home gated community in Kelowna

Mortgage Broker News · 25 Jul 2019

Scheduled to break ground in 2020, the community will have an estimated build time of around four years. Unit sizes, each coming with large outdoor decks, will range from 1,250 to 1,760 sq. feet. Prices are expected to range from $500,000 to $1.9 million.…

Southgate 2627 Gore Street Kelowna 19 homes in a 4 storey building by Teano holdings

The Vancouver Sun · 13 Jul 2019

Vancouver-based developer David Bakonyi is confident the 19 homes in his new Kelowna project will appeal to a variety of buyers — from young professionals to empty nesters, whether they're already living in the Okanagan city or planning to make that move…

REW.ca now in the Okanagan

REW · 26 Jun 2019

f you LOVE Lakeside Living… Nothing says the Okanagan like the Lake. These homes boast front seat views of the water and are steps away from all the fun! Take a plunge into these gorgeous homes.

B.C. seniors with unrentable homes near Vancouver face huge speculation tax bills

The Globe and Mail · 05 Mar 2019

Neil Belenkie, mayor of the remote village of Belcarra, and the property owners were at British Columbia's legislature Tuesday demanding relief from the tax, which applies to vacant homes in Metro Vancouver, the Fraser Valley, Kelowna, southern Vancouver Islan…

‘Non-individuals’ own 10% of B.C. residential property: CMHC

Western Investor · 12 Feb 2019

Nearly one in 10 residential properties in B.C. are owned by "non-individual entities," according to the Canada Mortgage and Housing Corporation (CMHC).

BC homeowners given deadline to apply for speculation tax exemption

REP · 20 Jan 2019

Seen as a way to address the overheated housing market in BC's large metropolitan areas, the speculation and vacancy tax looks to turn unused properties into rentals. According to CBC News, homeowners who live in their properties are exempt from paying the tax…

B.C. launches speculation and vacancy tax, with new name following criticism

Western Investor · 16 Oct 2018

Anyone who owns a home that is not their primary residence, and that is not rented out at least six months of the year, on December 31 of each taxation year, is liable for the tax for that year. The tax only applies in certain areas, which are the Capital Regi…

Strong cannabis hubs to arise in Western Canada

Canadian Real Estate Wealth · 12 Oct 2018

Kelowna's commercial real estate prices and industrial space leases are projected to go up, with an "extremely competitive" environment for cannabis retail licences anticipated to arise

The Highlands 9676 Benchland Drive, Lake Country 109 serviced lots on 550 acres for single-family homes by Macdonald Development Corp

The Vancouver Sun · 08 Sep 2018

After effectively selling out its first two phases, the developers of Lakestone, a resort-like residential development with panoramic views of Okanagan Lake, are now launching their next phase, The Highlands.

Multiple homes in the Okanagan listed in false locations

Canadian Real Estate Wealth · 07 Sep 2018

The latest investigation by Global News has a crucial warning for hopeful home buyers in the Okanagan: multiple listings in the area have been falsely listed as being located in the highly desirable Lower Mission market.

Somerset Reach 6026 Highway 97 Peachland 56 two and three bedroom townhomes by NBD Holdings Ltd

The Vancouver Sun · 01 Sep 2018

omerset Reach, a new townhome community to be situated on the hills overlooking Peachland in the Okanagan, will offer views of Okanagan Lake and proximity to community amenities.

Brooklyn at Bernard Block 1471 St. Paul Street Kelowna 178 homes in a 25-storey mixed-use tower by Mission Group

The Vancouver Sun · 18 Aug 2018

The top floor of Mission Group's 25-storey concrete highrise—Brooklyn at Bernard Block—will boast the city's highest rooftop terrace and indoor lounge.

SoHo 191 South Hollywood Road Kelowna 88 condos in a 5 storey building by Aristar

The Vancouver Sun · 04 Aug 2018

SoHo, an 88-unit five-storey complex located in southeast Kelowna, about a 10-minute drive from the city centre. Now in pre-sales, its prices start at $159,900 for a studio unit and starting from $475,000 for the largest three-bedroom homes…

Boomers’ purchasing power ‘inflating’ cabin prices in recreational hotspots

Western Investor · 27 Jul 2018

A survey of Re/Max agents in popular recreational areas showed that retirees are driving the demand for vacation cabins in 91 per cent of the regions examined, and that 78 per cent of those are seeing recreation property price rises.