Real estate in the Okanagan is on the rise and many are lining up for their chance to purchase property.
The demand in the Kelowna housing market is so high that the Mission Group, an Okanagan-based real estate development group, has over 10,000 registrants interested in its second tower.
“We have seen enormous registrations. It’s the largest number of pre-registrants we’ve ever seen for a condo tower we’ve done,” said Jonathan Friesen, Mission Group’s executive chairman.
The new 34-storey Bertram tower will hold 257 units and presale begins on Saturday.
Pricing for this weekend’s sale will start in the mid-$200,000 range with the majority of suites under $500,000, but people have to be registered to purchase a unit.
A significant portion of the 10,000 registrants are from the Lower Mainland, according to the real estate group.
The new tower will be built in Kelowna’s downtown core on Bernard Avenue.
Construction on the Bertram tower will begin this fall and will take roughly three years to complete.
Mission Group’s first tower, the Brooklyn, is being constructed now and is sold out.