Quote:
Originally Posted by Calgarian
What is the real estate market like in Kelowna these days?
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Down quite a bit I think. To be honest I haven't been looking at prices for a while, but I'm going to guess they're down about 25% or so.
Rental prices are still extreme, but they'll be going down soon because there are sooooooooo many vacant condos that people tried to make a quick buck on.
For example, MiraVista is like 400 or something units in downtown West Kelowna, and from friends who live there, like 50-75% are vacant.
Also, the big condo development near my house is on hold. So far they have the 300-350 unit 6 story building done, but that thing is even emptier than MiraVista.