Kelowna one of British Columbia’s Top 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 140-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 Kelowna as a top investment community. The city was ranked 7th on this year’s list, unchanged from REIN’s previous edition of the report. The entire report is available for download free of charge on the company’s website at www.topbctowns.com.
Kelowna is the largest municipality in the Okanagan Valley and the largest metropolitan centre between the Lower Mainland and Calgary. Remaining at number seven on the list, its central location has led the city to become the transportation, business, and service hub of the region.
The UBC Okanagan (UBCO) campus is expected to play an important role in Kelowna’s economy, generating new jobs, creating new housing, and increasing in-migration to the city. UBCO recorded another record high enrolment for the 2012-2013 winter term, with 8,307 full-time students. “The presence of post-secondary institution in a community is always a benefit, as no matter what happens in the economy, people are always attending school to increase their employable skills,” said Don R. Campbell, one of the report’s authors and Senior Analyst for the Real Estate Investment Network. “In many cases, students are not in a position to purchase a home in which to live and are looking for a place to rent near their campus, providing an opportunity for investors.”
Rife with resorts and vacation properties, REIN does caution investors that Kelowna is very much at the effect of the national economy. As witnessed in previous economic slowdowns, vacation units are often the first to go when people are looking to cut costs. However, Kelowna’s economy continues to diversify as it attracts small and medium sized enterprises to the region. This will add to the economic stability of the once primarily recreational and retirement-oriented community, increasing its attraction to investors and future residents.
With strong city leadership working on building infrastructure to support growth, Kelowna is a city with a long-term vision. Increased transportation connections and development opportunities will draw a continually younger population to the city.
The top BC communities in REIN’s 2013 rankings are:
2) Maple Ridge
3) Fort St. John
4) Dawson Creek
8) 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 on the company’s website 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: