Big White has made news headlines for its ski conditions but now the resort is making news for a different reason, its real estate market.
The resort, southeast of Kelowna, is experiencing the biggest real estate boom in the last 10 years.
According to a news release issued by Big White, the 2016/2017 season saw more listings sold and more development taking place than in the last 10 years.
“Renters from abroad are becoming buyers now, empty-nest baby boomers love the terrain Big White has to offer them and their grandchildren, and both groups believe investing in lifestyle and family always makes sense,” Royal LePage real estate agent Gary Turner said.
Big White’s last real estate boom took place between 2003-2006, when large accommodation projects such as Stonebridge, Aspens, Copper Kettle, and various units in Happy Valley were built to meet the demands of international buyers.
However. the demand for recreational property dropped in early 2009 when the recession hit. New development was put on hold and there was more inventory than there were buyers.
Real state is again booming with a number of projects that got underway this past summer. They include single-family mountain homes, individual family homes, townhouses, duplexes and a new neighborhood of ski-in/ski-out cabins.
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