Buying a Condo in Downtown Kelowna – What You Need to Know
Why Downtown Kelowna Condos Are in Demand
Living in Kelowna’s downtown core is one of the most sought-after lifestyles in the Okanagan. With waterfront parks, restaurants, and cultural events steps away, buying a condo in downtown Kelowna gives you a mix of city convenience and lakeside beauty. But before you decide, here’s what you need to know.
Why Choose Downtown Kelowna?
Downtown Kelowna is the hub of the Okanagan lifestyle. Living here means you’re close to:
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The waterfront boardwalk and marinas
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Cafés, wine bars, and breweries
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Arts and concerts at Prospera Place and the Community Theatre
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Knox Mountain hiking trails
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Lifestyle Benefits of Condo Living
Condo living is perfect for anyone who values convenience and low maintenance. Some key benefits include:
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Lock-and-leave lifestyle for travelers and snowbirds
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On-site fitness centers, pools, and lounges
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Security and peace of mind in managed buildings
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What Makes Living in Kelowna Unique?
Downtown offers a unique blend of urban living and natural beauty. You’ll find:
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Four-season recreation—boating, skiing, biking, hiking
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Strong job opportunities in healthcare, tech, and education
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Quick access to West Kelowna, Lake Country, and world-class wineries
It’s no wonder so many people are moving to Kelowna from across Canada.
Understanding the Kelowna Condo Market
The market is diverse, offering everything from luxury high-rises to smaller boutique buildings. Choosing the right condo comes down to lifestyle and budget.
Popular Downtown Kelowna Developments
Some of the most well-known condo projects include:
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The Madison – luxury finishings and lake views
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Brooklyn on Bernard – modern tower in the cultural district
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Waterscapes & Skye – resort-style amenities near the lake
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Ella – upscale urban living downtown
Average Condo Prices in Kelowna
As of 2025, you can expect:
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Entry-level condos: $400,000 – $550,000
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Mid-range condos: $600,000 – $800,000
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Luxury condos: $1 million+
Condo Fees: What to Expect
Strata fees in downtown Kelowna typically range from $350 to $700 per month, covering:
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Building insurance
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Common area maintenance
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Utilities for shared spaces
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Amenities like gyms or pools
Parking, Storage, and Amenities
When touring condos, ask:
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Is underground parking included?
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Is there bike storage or additional locker space?
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Does the building offer guest suites?
These small details often matter most for long-term comfort.
New Builds vs. Resale Condos
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New Builds: Modern designs, better energy efficiency, higher cost per square foot.
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Resales: Larger layouts, established strata history, often more affordable.
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Pros and Cons of Buying a Condo in Downtown Kelowna
Pros:
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Walkable lifestyle
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Amenities included
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Lock-and-leave security
Cons:
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Monthly condo fees
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Strata rules can limit flexibility
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Resale value depends on building health
Mortgage and Financing Tips for Condos
Some lenders have tighter restrictions on condo mortgages. Always check that:
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The building isn’t on a lender’s restricted list
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Strata documents show strong financial health
Strata Rules You Should Know
Every condo community has rules (bylaws) about:
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Pets – breed or size restrictions may apply
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Rentals – short-term rentals may be limited
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Renovations – approval is often required
Rental Potential and Investment Value
Downtown condos are attractive to both long-term renters and short-term visitors. With UBC Okanagan expanding downtown and Kelowna’s tourism market growing, condos often carry solid investment potential.
Future Development Plans Downtown
Kelowna continues to grow with new towers, cultural spaces, and waterfront expansion projects. This ongoing development supports the long-term value of Kelowna real estate downtown.
How to Start Your Condo Search in Kelowna
Here’s the best way to get started:
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Set your budget and must-have features.
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Explore current listings.
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Tour buildings to compare amenities.
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Review strata documents before making an offer.
📥 Download our free Kelowna Home Buyer’s Guide today.
Final Thoughts on Buying a Downtown Condo
Living in Kelowna’s downtown offers walkability, convenience, and a true Okanagan lifestyle. Whether you’re a first-time buyer, downsizer, or investor, there’s a condo that can fit your goals.
👉 See the latest homes for sale in Kelowna here
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Ready to Take the Next Step?
Buying a condo is a big move, and having the right guidance makes all the difference. Reach out today and let’s find the condo that fits your lifestyle.
Contact Mark & Maddie
Selling Kelowna Real Estate Group | eXp Realty Kelowna
📞 Phone: 778-744-0872
📧 Email: [email protected]
