With 2022 shaping up to be another red-hot year for British Columbia’s real estate market, now’s the time to start thinking about investing in some property. However, BC is such a big province that it may leave a lot of potential investors wondering: Where do I even begin to look?
Well, this article is a good start! Here, we’ll tell you about the top 3 areas to invest in property in BC. If you’re looking to get the most bang for your buck, be sure to scope out these areas first.
Nestled in the beautiful Okanagan Valley, Kelowna, BC has become a favourite tourist destination thanks to its first-class wineries, sandy beaches, and ski resorts. Though this traditionally has made Kelowna more of a secondary market, within the last few years an increasing number of people have been moving their primary residences into the area.
While the beautiful surroundings and proximity to recreational activities are certainly a draw, Kelowna’s growing industries may also be contributing to its popularity. Its new hospital, international airport, and expansion of the University of British Columbia Okanagan campus are also likely attracting people to Kelowna. It is also known to have one of the best climates to grow marijuana in Canada, so this industry will likely thrive in the area in 2022.
Overall, whether you’re looking for an investment property in a hot vacation spot or a growing community, you’ll likely find what you’re looking for in Kelowna.
During the pandemic, a lot of people picked up and moved their primary residence to Chilliwack, and it’s easy to see why. You’re able to get a lot more land for your money compared to some of the more popular cities in BC. This makes it especially attractive to those looking to raise a growing family or just have some more space for hobbies and outdoor activities.
On the business side of things, there’s also a lot of industrial development currently going on in Chilliwack. This is at least partly due to its proximity to places like Vancouver, as a lot of businesses have a hard time getting there from Alberta and further north in BC. Relocating to Chilliwack can help cut down significantly on delivery times.
Therefore, those who are looking for a good residential or commercial investment property should consider looking into Chilliwack. And soon – it’s a hot market!
If you like the sounds of being surrounded by rolling hills, natural landscapes, and lakes, then you may want to invest in property in Kamloops, BC. Its residential market boasts a variety of houses, apartments, and townhouses to suit every style and budget. Whether you’re looking for something in a lively downtown area or in the suburbs, Kamloops can accommodate just about any lifestyle.
It is also a good area to invest in commercial real estate. While Kamloops has always been a transportation hub, it is also likely going to see an increase in business within the next few years thanks to the pipeline construction. Healthcare, construction, and education sectors are already growing, and they will be helpful in stabilizing the Kamloops market.
Kelowna is another great spot for both residential and commercial investment properties, so make sure you look into it before making any final decisions.
Need some help navigating these hot markets in BC? Contact us at Cascadia Pacific Realty today for all your real estate needs!