Professional Real Estate Services

Market Overview

Kelowna/Okanagan Region

As the largest city in the Central Okanagan, Kelowna has been rated among the most cost competitive places to do business in the Pacific Region of North America. With a population of nearly 200,000 its vibrant retail and commercial base attracts a trading area of approximately 450,000 residents. Kelowna is a hub for economic and business activity with agriculture, forestry and tourism playing key roles along with manufacturing, health and social services and a growing technological centre.

The economic diversity of Kelowna matched with its superior location just 400km east of Vancouver, 130km north of the United States border, 160 km from Kamloops and 600km to Calgary, makes for an exceptional economic platform from which to continue to grow from. Urban development in the industrial, commercial, retail and public sectors is ongoing with abundant opportunities and potential. There are currently 1,405 acres of industrial zoned land able to be freely developed (this does not include Westbank First Nations).

The opening of UBC Okanagan has brought significant economic benefits to the Kelowna area directly and indirectly along with the expanded Okanagan University College. Kelowna International is one of the top ten airports in Canada, serving nearly one and a half million passengers annually. Already offering direct flights to and from Toronto, the United States and Mexico, its recent runway extension will allow non-stop international flights from Europe and Australia. This will continue to benefit the local and regional economy in tourism, business, and with increased home buyers. Additional projects include the expansion of the Kelowna General Hospital to include health care services currently only available in Vancouver, and the newly completed William R. Bennett Bridge across Lake Okanagan which has improved traffic flows to the Westside.

Besides being one of the most stable economies in Canada, Kelowna and the Central Okanagan enjoys a lifestyle second to none. Known for its hot summers and mild winters, Kelowna boasts the pristine and refreshing waters of Okanagan Lake which stretches for 110kms and is surrounded by world class golf courses, wineries, orchards and beaches. Wintertime brings incredible skiing at more than six ski hills all within two and a half hours from Kelowna with champagne powder and crowd-free lifts and runs. Not only is the Okanagan Valley a true paradise for those who love the outdoors but Kelowna’s growing Cultural District includes a vibrant collection of galleries, museums, theatres, artists’ studios, fine dining, unique shops as well as Prospera Place, a 6,000 seat multi-purpose facility in the downtown core.