KELOWNA, British Columbia — “Waterfront properties are becoming more scarce and people are thinking, ‘We better get in while we can,’” he said. “We’re seeing a huge number of newcomers. Most of Kelowna is close to the water and it’s not proximity they’re interested in, they want to be on the water.”
The price of an Okanagan waterfront property averages over $2 million and Friesen says it’s not uncommon for properties to trade for $3-5 million. Nevertheless, the region is following a nationwide trend.
‘It’s a trend we’ve seen all across Canada, with people trying to move out of densified urban cores to somewhere more relaxed. Kelowna checks those boxes and it’s still half the price of Vancouver, so why wouldn’t you?’”