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Some B.C. property owners 'panicking' following short-term rental legislation: realtors (www.cbc.ca)

submitted 1 year ago by TSG_Asmodeus to c/[email protected]

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Deanna Steele says she has never seen as many condo and vacation homes for sale in Kelowna, B.C. as she has this month.

The founder of Keys to Kelowna Properties Inc., a luxury vacation rental management agency, said the lake-front city's real estate market is "saturated'' by properties zoned for short-term rental use. Some of the sellers are people who bought not that long ago and are already trying to get out.

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[–] [email protected] 14 points 1 year ago

And I bet they’re still all trying to sell at an astronomical price. Someone will blink first and then things will start falling. The question is how long will they try to hold out.