Kamloops in Top 5 list of BC Investment TownsJuly 25, 2013
July 25th Langley, BC - The Real Estate Investment Network (REIN) released the 2013 edition of its Top British Columbia Investment Towns report today. The 110-page report analyzes the current and future prospects for real estate investment opportunities in the province over the next decade and has once again ranked Kamloops as a top investment community. However, the city’s ranking has dropped slightly, from third place in a previous edition of the report to fifth place in the most recent edition.
While remaining a popular vacation destination for BC residents, Kamloops has also succeeded in attracting many non-tourism related industries. Recognized as the transportation hub for the Southern Interior, Kamloops has many major highways passing through it, as well as both of Canada’s major railway lines. REIN believes this makes Kamloops the perfect place to do business and more companies will decide to locate in the region to use the city’s transportation links to their advantage.
“Investors continually hear that it is strategic location that is most important when considering investment properties,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “For Kamloops, this mantra has proven to be very true. When combined with competitive development and business costs and low residential real estate prices, Kamloops will continue to attract both businesses and families.”
Thompson Rivers University is expected to play an important role in Kamloops’s economy, generating new jobs, creating new housing, and increasing in-migration to the city. Thompson Rivers is the largest post-secondary institution in the province north of Vancouver and boasts an annual enrolment of 11,000 students. “Thirty eight percent of students attending the university do not live in the Thompson Okanagan region and will need places to rent,” said Mr. Campbell.
The city’s slight downgrade in this year’s rankings was due to the increase in investment potential in the oil-rich communities of Fort St. John and Dawson Creek.
The top BC communities in REIN’s rankings are:
2) Maple Ridge
3) Fort St. John
4) Dawson Creek
9) Prince George
About the Top British Columbia Investment Towns report
The Top British Columbia Investment Towns report was first published in 2009 in response to growing demand from investors to know the province’s best locations for cash flowing properties. The report is released every second year and provides investors with comprehensive information on which areas of the province will outperform over the next decade. The communities listed in REIN’s report have been ranked according to their long-term investment potential, not short-term speculative market runs. Many sources are consulted in order to provide real estate investors with the most comprehensive information, including Canadian Mortgage and Housing Corporation, Multiple Listing Service (MLS), Statistics Canada, Regional Real Estate Boards, and local economic development offices. Additionally, real estate investors and REALTORS© who were well acquainted with particular cities and towns were consulted to provide ‘real time’ and ‘on the street’ experiences. The entire report is available for download free of charge at www.topbctowns.com.
About The Real Estate Investment Network Ltd.
Founded in 1993, The Real Estate Investment Network Ltd. (REIN) has grown over the years to become Canada’s leading real estate research and education organization for investors and homeowners across North America. REIN does not sell or market real estate to its members or the general public, but instead conducts objective and unbiased research, analysis and investor education. For further information on REIN, visit www.reincanada.com.
For an interview with one of the report’s authors, please contact Melanie Reuter: