Investors flock to First Nation land as Kelowna home, condo values slump – Times Colonist

Feb 7, 2024

B.C.’s Short-Term Rental Accommodation Act does not apply to reserve land or treaty land unless a First Nation chooses to opt in through an agreement with the province.

A new report by an international real estate search portal suggests the value of homes and condos in Kelowna has fallen rapidly in the past year.

Point2 Homes analyzed data from several cities across the country and found that single-family homeowners who purchased in late 2022, lost an average of $98 a day, the biggest loss in B.C. and the third biggest loss in the country.

“Adding it up, this means they would need to sell their home for $35,900 less than they bought it for — an unsettling prospect for any owner,” said Point2.

Read More: https://www.timescolonist.com/real-estate/investors-flock-to-first-nation-land-as-kelowna-home-condo-values-slump-8220986