With its brilliant climate, endless landscapes, and well-known reputation as a destination for wine aficionados, the Okanagan Valley truly stands out in the British Columbia landscape. Not only does it provide a more relaxed pace of life, but also a real estate market that clearly demonstrated how sought-after properties in this area truly are.
In today’s blog, we are taking a closer look at Okanagan, which is also known as the Okanagan Valley, and how this plum area not only provides a prime investment for property owners, but also a lifestyle that is underpinned by culture, nature’s beauty and, of course, premium wines.
First, let’s take a brief look at the main cities found in this area.
Popular destinations that property investors should take note of
Some of the Okanagan Valley’s top cities include Kelowna, Kamloops, Penticton, Vernon and Osoyoos.
Kelowna is famous for its laid-back atmosphere and its incredible culinary and beverage offerings. Those who live in the area would be sure to tell you about days spent sipping luxury wine or craft beer tastings, or spending time cycling or hiking on their home turf.
Not to be outdone, Kamloops– which is the seventh-largest city in British Columbia – shines as a lush scenery of canyons, pine forests and access to several lakes, making it perfect for those eager to explore water activities. However, it is not just the summer sunshine that draws people in in winter, Sun Peaks Resort and Harper Mountain are prime destinations for skiing and snowboarding. The Kamloops Wine Trail is another big attraction that is an authentic experience to discover some of the best wines that the area has produced.
Just like the latter, Penticton has a lavish roster of wineries – over 80 to be exact – and craft breweries too. Situated between two lakes, there are water sports aplenty in this area, plus trails for families to enjoy hiking or mountain bike riding as they take in the breath-taking landscape.
Vernon mirrors this outdoors lifestyle beautifully, with ample opportunity for boat rides, biking, and paddling. Its ranching history, golf courses and colourful wall murals are popular drawcards too, as is the breath-taking views available at Kalamalka Lake Provincial Park.
For true culture boffins, Osoyoos has a rich cultural line-up. From the Nk’Mip Desert Cultural Centre to the Nk’Mip Cellars and destinations such as Spirit Ridge with its vineyards and sacred lands, it is clear that this city is entrenched in its treasured history.
A property market that has seen rising prices in the last months
With its vibrant character and activities, Okanagan also demonstrates a strong seller market. Property prices continued to rise in September of this year. In Central Okanagan, for instance, the benchmark price of a single-family home is currently an estimated $923,500, whereas a South Okanagan could fetch in the region of $675,000.
Despite these rising prices, investing in Okanagan real estate is still a worthwhile move, especially considering how many of the mentioned cities are performing exceptionally well in lifestyle reviews, business, and housing opportunities.
Kelowna, for instance, was selected as the best city in Western Canada for investors in 2020, while Vernon’s viable business climate has also attracted the attention of buyers. Osoyoos has also demonstrated a large offering of listings for those who are keen to settle in the area.
Considering the popularity of Okanagan Valley homes, and how these prime opportunities can be quickly snapped up, it makes sense for investors who are keen to expand their property list with an eye on growing their return on investment for future sales.
On the other hand, for families and couples who are ready to embrace a lifestyle of culture, gastronomy, and outdoors enjoyment, coupled with welcoming communities, settling in this area can elevate their quality of life beyond imagination.
At faithwilson, we are equally passionate about the Okanagan property market and have regular listings in this area that are cherry-picked for their potential as top investments. If you are ready to make an Okanagan investment your own, we would love to assist you. Contact us today and let’s begin an incredible property journey together.