This year our HM Crystal Ball focuses on Kelowna’s forecasted growth over the next 10 years. Q: Are these our roaring 20’s?
The pandemic did nothing to weaken our real estate market. In fact it strengthened the desire for people to live and work in Kelowna which fueled the rise in pricing for condos, townhomes and single-family homes. We have evolved from a small town to a mid-sized city.
Similar to land, the demand for investment properties remains insatiable. Quality assets with strong tenants and secure cashflow remain in fierce demand. This is true of all categories including Retail, Office, Industrial and Multi-Family.
With the turn of the calendar, some buoyancy returned to the retail market in Kelowna. Retail was, in large part, frozen at the start of the pandemic and absorption was limited in 2020. As COVID fatigue set in, and a new year began, people were ready to get back to business.
This year has proven that office space is not dead, despite the emotional upheaval of 2020. That said, globally, there has been a compression of office space as it has certainly been disrupted during the pandemic.
HM Commercial Report Release Party
Every year we invite investors and industry professionals to our annual Commercial Report Release Party. Contact us to express your interest or for more information.
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We are committed to providing clients with an elevated experience and to delivering exceptional service and results. We are system and process driven and strive to be leaders and information providers in our local market. Specializing in acquisition and disposition of commercial real estate with over 40 years of combined experience. We do things differently and it works.