Secondary markets have been in focus over the past year thanks to high cap rates that have made more sense in the current financing environment. While interest rates are starting to come down, heralding a compression in rates, the shift will take time to work through the market. Meanwhile, an influx of people and businesses to secondary markets continues as high real estate costs send both investors and tenants looking for more affordable opportunities.
While there are plenty of towns that could qualify as prime secondary markets—the Southern Okanagan among them—the major moves are happening in hub cities on the fringes of major metropolitan areas. In B.C., this includes
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