Shane Styles, President of Epic Real Estate Solutions, Inc. in Kelowna, BC, discusses the vibrant real estate in the Okanagan Region. Shane is Okanagan-born and has championed Kelowna Realty for 25 years.
“My parents bought a hotel in 1977, and the region became our home,” Shane reminisces. “Now, whenever I go—to Asia, Hawaii, the US Mainland, wherever—I always come home to the Okanagan, my home, and my family’s home.”
Shane, an alumnus of BCIT’s Marketing program, found himself drawn to real estate by the buying patterns of the Baby Boomers.
“Kelowna used to be a place only for vacations,” Shane relates. “But it eventually became a place to call one’s home. Living here is like having the best of both worlds. One can enjoy the milieu of a carefree vacation haven, but at the same time, enjoy the warmth of home.”
The Central Okanagan is the fastest-growing region in the country.
“I was at a School Board meeting last week. They have 440 new students—about 25,000 in the local school district and about 10,000 in private schools. The School Board’s forecast was to have 440 students, but the actual number was 665, more than 50% of the forecast’s population growth. Consistently one of the fastest-growing jurisdictions in the country, people want to be in the Okanagan. If you could buy a prime piece of real estate in Kelowna today or anywhere else in Canada, which one would you rather own in five years? You’d likely choose Kelowna due to its quiet, pristine surroundings, amenities and overall lifestyle. Hence, you want to spend more time in Kelowna.”
Indeed, most British Columbians want to be in the Okanagan region. For instance, the usage profile of Kelowna real estate is relatively fast. It’s not strictly the business decision that matters. There is also the beauty factor, the idyllic surroundings, the vast space—or you may have kids who want to go to school at UBC Okanagan or Okanagan College and enjoy water sports and other outdoor adventures. That, too, would be ideal.
“People in their later years prefer to move here,” Shane explains.
“Though this region is far from the maddening crowds, it is as vibrant as most communities in the Lower Mainland and more. In 1977, when we moved here, the common joke was, ‘Kelowna is just for the newlywed and the nearly dead.’ Not anymore. Today, the profiles of people living here are more expansive and much broader than that. There is a high degree of interest in people north of 55—it is where they want to spend more time. As we age, we need healthcare the most. In the last ten years, the Kelowna General Hospital and The Kelowna Cancer Clinic have had impressive massive expansion in their facilities. The Penticton General Hospital also just built a $400-million addition.”
Kelowna has 155,000 people. Central Okanagan has about 250,000—not too many people relative to other locations in the Lower Mainland. But we are fortunate to have a robust, recently expanded, and dynamic healthcare network here. And now, too many people are in the Lower Mainland, creating more pressure on the communities. Doctors want to move to the Okanagan for the more benevolent lifestyle replete with all the perks and trimmings akin to a bohemian lifestyle.
“A study done last year involving all communities in Canada ranked Kelowna as the second-greatest small city in the country,” Shane says proudly. “We have space here. I could drive about four minutes from where I am to the top of the mountain. We get that luxury, and at the same time, we have 80 wineries we could choose from to visit—within 45 minutes. More mature populations are here because of activities like golf and skiing. In contrast, a growing younger population has formed due to the presence of UBC Okanagan and Okanagan College, with 17,000 students, respectively. Now, UBCO is building its downtown campus. It’s a place with fantastic amenities and one of the most beautiful places in the country, secured with post-secondary education experiences, UBC, Okanagan College.”
Universities and colleges, with their steady influence and accommodations, infuse economic stability into the region.
“The airport we have is one of the best airports in Canada. You can fly directly to Mexico, Phoenix, Seattle, Hawaii, or Kelowna-Toronto • Toronto-London • Kelowna-Vancouver • Vancouver-HongKong. The airport is a big draw for people who want to invest and move here but still want the ease of travelling via plane,” Shane concludes.
• Okanagan’s typical detached homes start at $1.1 million
• Townhomes: $700,000 Upwards
• Lakefront/View Homes: Premium Pricing
See what Kelowna and the Okanagan have to offer with new projects like ONE Varsity and the Ridge at Eminence. You will only know what you’ve missed once you try the Okanagan lifestyle.
