duminică, 5 aprilie 2015

What Reasons Are Fueling The Kelowna Real Estate Boom

By M Walker


British Columbia is mouth-wateringly beautiful. Clear skies, beautiful scenery and a low population density (1,434 per square mile) are combining to make the Kelowna real estate market hot, hot, hot, with a huge lack of inventory. For people toying with putting their homes up for sale, now would be a good time to take the plunge.

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 first Europeans to settle here were from France. They came in the middle of the 19th century. It was nearly half a century before the city was incorporated, in 1905. The area has cold, cloudy winters and dry, sunny summers and enjoys four obvious seasons. This is described by weather experts as humid continental climate. Famous figures from here include cyclist Axel Merck, Olympic rower, Scott Frandsen, and Josh Gorges, professional hockey player.

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.

The city is also home to a popular soft drink manufacturer. The city is also home to two institutions of higher learning, the University of British Columbia, home to 8,000 students, and Okanagan College, which boasts 5,000 students. Faculties at the Okanagan campus of UBC include Creative and Critical Studies, Education, Applied Science, Health and Social Development, Management and Medicine.

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 been immortalized on the silver screen. Both Shed and Shed 2, snowboarding films, were both shot at Big White ski resort, as was the cult thriller/horror/comedy/zombie film, Fido. The latter film was set in the 1950s and involved a cloud of cosmic radiation that turned the dead into the nearly dead.

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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