Among the various places in Canada, Penticton has grabbed the attention of many investors. The property market all over Canada is booming and there are lots of opportunities out there.
You can make money by investing in the property market in Penticton. Here are the reasons you should invest in property in Penticton.
Tax advantage
The rental market in most places in Canada is tight. The foreign investment tax in Canada has gone up to 20%. This makes it difficult for foreigners to invest in Canada. However, Penticton in British Columbia is exempted from this tax.
As it is a small city without the feel of a busy and big city, the government has done a favour for foreign investors to get more investments in the property sector.
Winery
Penticton is known as the fruit growing region of Canada. It has become famous for producing quality wine. You can buy agricultural land here and turn it into a vineyard. Beside it, you can develop a winery.
There is currently a high demand for wines produced from Penticton, which means you will get the opportunity to earn more revenue by creating a winery.
Hotels
There are beautiful lakes and mountains here in Penticton. The beautiful natural scenery attracts lots of visitors throughout the year. So, it’s a good idea to invest in a hotel or other kind of accommodation for these guests.
The temperature can become 40 degrees Celsius in summer and you won’t find a warmer region in Canada.
During the winter the mountain resorts get booked and there is a high demand for this kind of property. You can invest in a hotel or a similar property and take advantage of the tourist seasons to earn extra money.
Though Penticton is a small city, it offers important amenities, which attracts a lot of investors and homemakers. Lots of businesses are growing here and the property business is also booming. The prices of properties are increasing and now is a good opportunity to invest in the property market in Penticton.