BUSINESS IS BOOMING IN INTERIOR B.C. // RECREATION & INVESTMENT REAL ESTATE
BUSINESS IS BOOMING IN INTERIOR B.C.
BUT EXPERTS WARN PERSISTENT SUPPLY SHORTAGES WILL HAVE SIGNIFICANT EFFECT ON REC PROPERTY MARKET
BY JAMIE ZACHARY
I
f you list it, they will come. That’s the ongoing message from the interior B.C. recreational property market, which continues to heavily favour sellers.
And while demand has started to level off from record highs in 2021, real estate experts predict that without drastic increases in supply, sellers’ conditions will persist for much of 2022 and likely longer. From Salmon Arm to Sparwood, Revelstoke to Radium and just about everywhere in between, the blistering pace of interest and activity in the recreational mecca located just across the B.C.-Alberta border has been an unexpected byproduct of the pandemic.
Garth Mann has had a front-row seat to the action over the past two years and counting. The CEO of Statesman Group of Companies has noted plenty of new interest in B.C.’s Columbia Valley, including the company’s Pineridge Mountain Resort. “The pandemic has been a catalyst for change in the values of many Canadians … whether they are planning for retirement or have young families. They are contemplating changes based on their desire to focus on what’s important in their lives,” says Mann. “We hear it in Alberta. We hear it in Ontario. After two years of living in the confines of the pandemic, buyers are asking
ABOVE: PINERIDGE MOUNTAIN BIKING. PHOTO SOURCE: STATESMAN GROUP OF COMPANIES
BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // APRIL 2022
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