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Which Factors Are Fueling The Kelowna Real Estate Boom

By M Walker


The Canadian province of British Columbia is rich with rugged, yet tranquil, Alpine beauty. Kelowna is a city in BC. Its wide open spaces, clear skies and amazing scenery are conspiring to heat up the Kelowna real estate market. It's a good time for property owners to think about selling.

What is driving the new "gold rush?" The town has the beautiful, long, narrow Lake Okanagan running through it. British Columbia is on the west coast of Canada and Kelowna, also known as K-town or Orchard City, is right in the middle of the province, on the same latitude as the midpoint of Vancouver Island.

The area was first settled by the French in the middle of the 19th century. It was nearly half a century later before the city was incorporated. Here, the climate is classified as humid continental. Roughly translated, this means it experiences four discrete seasons, dry, sunny summers and cold, cloudy winters. The elevation of the area is 344 metres. Famous people to have come from Kelowna include sports figures Tyler Shelast, Mike and Jason Crumb and Byron Dafoe. The late Premier of British Columbia, W. A. C. Bennett, was also a local.

A large chunk of the local economy is financed by tourism. Visitors come for hiking, golf, boating and cycling in the warmer months of late spring and summer, while it is Alpine and Nordic skiers who take their vacations here in winter, staying at the nearby resorts of Silver Star and Big White. There is plenty to do here all year round. Historic attractions include the Benvoulin Heritage Church, the Laurel Building and Father Pandosy Mission. Wine country, of course is popular with tourists and there are various social events throughout the year with wine at the center.

The town is surrounded by parks and protected areas. This is a major attraction to residents and visitors alike. To the north lies Fintry Provincial Park and Protected area. Greystone Protected Area is east, while Myra-Bellevue Provincial Park lies to the south. Trepanier Protected Area is located west of the town and west of the lake.

Wine production is another major industry in Kelowna. Most of the vineyards are south of the town, where the climate is most favorable for vineyards. A fire that started in Okanagan Mountain Park demolished two of them in 2003, but they have since been resurrected. In 2014, the area was named one of the ten best wine regions to visit by USA today.

A well-known range of non-alcoholic fruit juices is manufactured here. This is convenient for the 13,000 college students who choose this perfect location for their further education. The Okanagan campus of the University of British Columbia offers studies in Applied Science, Education, Medicine, Creative and Critical Studies, Health and Social Development, and Management. Also nearby is Okanagan College.

The quality of life in Kelowna is considered to be very high by organizations who monitor a variety of factors and publish quantitative data. Purchasing power, safety and health care are rated moderate to high, while negative QOL indicators, such as consumer price index, pollution, traffic and the property price to income ratio are all low.

The town has also appeared in a number of movies. Shed and Shed 2, both snowboarding films, were filmed at Big White. In 2006, the movie, "Fido, " was launched at the Toronto Film Festival. Fido was a thriller/horror/comedy/zombie film set in an alternate universe where a cloud of space radiation turned dead people into nearly dead people.

Public bus transportation exists, but it is well trumped by the city's love for the automobile. More than two-thirds of toxic emissions are caused by the over-dependence of this town on motoring.

Kelowna has a lot to offer. It is lush with greenery, plenty of open space and a high quality of life. Much of the local crime is sporadic and associated with events with a high profile for alcohol, and those reports are few and far between. By and large, it is a placid community. There is a huge demand for homes of all types, making this a good time to sell. However, it can only keep growing, which makes this an ideal time to invest in property in Kelowna.




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