16 February 2011 ~ 1 Comment

Kelowna Apartments for Rent

Finding Kelowna apartments for rent should be easier this year based on recent stats.

“While housing starts have moved higher over the past year, Kelowna’s new home construction sector continues to face strong price competition from a well supplied existing home market,” noted Fabri.

There are hundreds of new, completed and unoccupied condos in Kelowna area according to the CMHC. Until they are sold, multi-unit housing construction is expected to slow further. Finding Kelowna apartments should be easier if you are renting as owners will likely hold onto their units and wait until prices increase.

This is in contrast to high housing costs in the Okanagan Valley that will be discussed at an upcoming discussion in Kelowna later this month. The B.C. Affordable Housing Research and Action Roundtable will be held on Feb. 18.

Hopefully apartments in Kelowna become more affordable to rent. Kelowna apartment rentals construction pushed the 2010 construction numbers higher, according to Canada Mortgage and Housing Corporation (CMHC) market analyst Paul Fabri.

Kamloops, meantime, saw considerable construction of multiple unit dwellings during January, 142 compared to 6 in 2010. This should increase Kamloops apartments for rent if you are renting in Kamloops.

Apartments for rent in Kelowna should become more affordable based on this data but affordability is still a major issue for the Okanagan. If you are looking for Kelowna apartments check out Rent Spot. Canada’s choice for apartments and houses for rent.

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