From Vacation Destination to Investment Haven: Penticton - Fifth Avenue REM mediaiqdigital tracking pixel
Home Buying, Real Estate News | June 14, 2023

The South Okanagan, known for its beautiful beaches, pristine lakes, and small-town charm.

This is the next hotspot for savvy investors. One destination, Penticton, stands out as particularly attractive.

Penticton – a Top Spot for Real Estate Investment in 2023. More Canadians are moving to BC. Consequently, Penticton’s investment potential is soaring.

Western Investor named it a top spot for real estate investment in 2023. Its population grew nearly nine percent from 2016-2021.

Compared to Kelowna and Vancouver, Penticton offers unique advantages. Property appreciation has surged over the last decade.

The city can’t build enough homes to match the growing population. Driven by the Federal Government’s immigration targets and interprovincial migration. Supply-demand imbalance creates a lucrative opportunity for investors.

Penticton Has the Best Amenities in the Okanagan

Penticton boasts an inspiring natural setting and a comfortable climate. Its exceptional tourist attractions drive economic prosperity. The city, with over 36,000 residents, is transitioning from a vacation spot to a hub for permanent residents.

Big-city amenities and small-town atmosphere attracts various groups, including young professionals, remote workers, retirees, and investors.

Penticton is one of only two places bordered by two lakes. It offers outdoor adventures like sandy beaches, public parks, and over 150 hiking and biking trails.

Essential services include the expanded Regional Hospital, the Canadian Sports School, and top-rated post-secondary institutions.

Additionally, Penticton provides easy access to winter skiing at Apex Mountain Resort and Nickel Plate Nordic Centre. In summer, visitors enjoy water sports on Skaha or Okanagan lakes. The world-renowned Naramata Bench, with over 40 award-winning wineries and waterfront restaurants, is just a 5-minute drive from downtown.

Penticton’s mild climate, with about 3,037 hours of sunshine annually, attracts those seeking an outdoor lifestyle.

They enjoy wine flights, golfing, nature, and world-class events like the Okanagan Wine Festival and Penticton Peach Festival year-round.

Building a Better Future – Penticton’s North Gateway

Penticton plans to add more housing units within the next five to 10 years. This gives homebuyers a chance for valuable long-term investments and steady income streams.

With virtually no vacancies for short-term summer rentals and a 1.1% private apartment vacancy rate as of October 2022, demand for rental units is high.

To protect its natural surroundings and green spaces, Penticton restricts development areas. To address these constraints and welcome new residents, the city is redeveloping the North Gateway district.

This will become the region’s first 15-minute walkable neighborhood. Consequently, property values will rise with new commercial and recreational spaces, multi-use paths, and tree-lined streets.

Sokana – One of Penticton’s Best Real Estate Investment Opportunities

Sokana, a new development in Penticton, offers modern studios, one-bedroom plans, and spacious two- and three-bedroom residences. It borders the Penticton Channel and Riverside Village.

Sokana features resort-style amenities like an outdoor pool, hot tub, grilling area, firepits, coworking space, and fitness center. Additionally, it aligns with the

North Gateway Plan’s focus on walkability, being close to beaches, shops, and the city’s culinary and craft brewery scene.

Given Penticton’s booming real estate market, there’s never been a better time or place to invest. For more information about Sokana, visit liveatsokana.com.

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