Penticton is Western Canada's 4th best city for investors: real estate magazine
Investors are having their attention pointed towards Penticton’s real estate market.
Western Investor named the South Okanagan city in its article about the five top towns for real estate investors – pegging Penticton as the fourth-top pick for 2023.
“Buy the dip,” the article reads.
“Penticton is the best recreational and resort residential market in B.C.’s Interior for 2023.”
Kelowna's status as "the hot spot in the Okanagan" is now under threat by Penticton, the article states.
READ MORE: Want to invest in western Canadian real estate? Look no further than Kelowna
Waterfront homes will be the best investment in Penticton real estate, as average prices have dipped 47% from last year, down to $1.57 million in September 2022, reads the article. That’s a bargain compared to waterfront in the Central Okanagan, where the average price is $4.5 million – and those properties are not as close to the Lower Mainland.
The article points out the cheapest detached homes throughout the Okanagan can be found in the South Okanagan, where they are selling for an average price of $779,500.
Joining Penticton on the list of top five cities for investors, Western Investor placed Calgary as the number one market, East Vancouver second, and Bamfield third. Placing in fifth was Nanaimo.
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