Kelowna is the best city for real estate investments in Western Canada.
That’s according to Western Investor, a source for commercial real estate and business opportunities in Western Canada.
Kelowna is Canada’s 53rd most populous city but has the 10th busiest airport, which the Western Investor said is a “telling” statistic that it’s a growing city and the reason why it called it the best.
The report noted two new hotels at the airport, as well as construction of new commercial and residential buildings in the downtown area.
The buildings include the One Water Street condo tower and the Ella Tower. In total, there are 12 residential towers under construction in the city.
The source also pointed out Kelowna has a 4.9 per cent office vacancy, with more office spaces under construction.
“It’s gratifying to see the city’s long-term vision for this area becoming a reality,” Mayor Colin Basran said.
“The mixture of commercial, industrial and residential properties create a dynamic and attractive hub of development where people can work, live and enjoy leisure time all in one spot.”
Other B.C. cities named in the top five include Prince George and Chilliwack.