HM Commercial Group: Kelowna shows increased investment from Asian buyers

October 25, 2016 10:40 pm

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Lake Okanagan Resort was purchased for over $10 million by a foreign investor. — Lake Okanagan Resort website

Kelowna is becoming a desirable alternative to the Lower Mainland for Asian investors looking to avoid the foreign buyer tax and cash in on higher capitalization rates, according to a new market report.

Kelowna has seen an increase in Asian buyers investing in commercial property, wineries and golf courses, over the past 18 months, HM Commercial Group of Macdonald Realty Kelowna found.

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