There is one apartment going to built in the spring with studio apartment's costing 95,000.00 to 100,000.00 thousand dollars for a little like bachelor one room place with a bathroom! This is the price here in Kelowna as the property and land taxes plus building is all taxed to death! Its a bit cheaper if you move from town but not much! And people are buying up these places before their even built! Then they rip people off by reselling them for even more money! Its all such a scam, that still leaves no where affordable for people to live! Thanks for replying! 🖒😉
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Where i come from (Aussieland) I recall these people paid like huge over priced dollars for stage one of these condo developments, the price they paid was double the next nearest price point . . .
Then stage two barely sold out at average prices, stage 3 went bankrupt and the government bought it and filled it full of welfare families : )
You can imagine how stage one felt LOL ; )
This happens alot here in British Columbia we have alot of Chinese people buying up everything they can get their hands! And the rich get richer, while the poor suffer! They buy and leave them empty! Leading to 0 rentals available! But our government just changed some tax laws to try and deter this practise, but now it effects everyone that wants to buy! Hopefully it works out we will know in time.♨ 😉♨