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lundi 30 mars 2015

What Characteristics Are Behind 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 explosive demand for homes in Kelowna? It doesn't hurt that the town has a lake, Okanagan, running through it. Orchard City, or K-town, is on the same line of latitude as Vancouver Island on the pacific coast. Kelowna is right in the middle of the province.

The first settlers in the town arrived from France in 1859. The city was incorporated in 1905. The climate of the area is described as humid continental. This means it experiences sunny, dry summers; cloudy, cold winters and four distinct seasons. It has an elevation of only 344 metres. Notable people from Kelowna include WAC Bennett, the late Premier of British Columbia, sports figures including Jason and Mike Crumb, Byron Dafoe and Tyler Shelast.

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 completely surrounded by huge nature reserves, placing it at the center of a huge oxygen factory. Greystone and Trepanier protected areas form the east-west axis of tranquility, while Fintry and Myra-Bellevue provincial parks form the south-north.

Locally-produced wines have received recognition at the international level. Vineyards are clustered in the south of the region, where the climate is ideal for growing grapes. The Okanagan Mountain Park fire destroyed two of these wineries in 2003. These have since been rebuilt. USA Today dubbed the area one of the 10 best wine regions to visit in 2014.

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 has been quantified by statistical organizations, who rate it very high. The positive QOL indicators, in which the town is rated either moderate or high, include safety, health care and purchasing power. The negative indicators, in which the town is rated low, are pollution, traffic, consumer price index and the ratio of property prices to income. A low property price to income ratio means that rents or mortgage payments occupy a smaller proportion of household income than areas with a high ratio.

Kelowna has appeared in various films. In 2006, it was featured in a movie called, "Fido, " a comedy/thriller/horror zombie flick that debuted at the Toronto Film Festival. The setting was an alternate universe in the 1950s where cosmic radiation turned the dead into zombies. Parts of the films, Shed and Shed 2 were filmed at the nearby ski resort, Big White. Both films featured snowboarding.

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.

It is easy to see why property here is so much in demand. It is a delightful place to live. Even crime seems limited to events where liquor is available. It is a haven for nature-lovers and has a very high quality of life overall. It is a peaceful community. Because of the massive demand for housing, it is a good time to sell. On the other hand, as the area's popularity continues to grow, this is also a good time to invest in Kelowna property.




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