As Sun Peaks grows in size and popularity it has attracted international attention. With that attention comes more people buying vacation homes in the community, as seen in the recent real estate boom.
A study released by Statistics Canada on June 25 placed Sun Peaks at the top of the list in B.C. with the most non-resident homeowners, 16.5 per cent. A non-resident is defined as someone who may be a citizen but doesn’t have a primary address in Canada.
The village, with around 600 full time residents, was a full percentage point ahead of Whistler, and also beat Vancouver (4.6 percent), Fernie (6.6 per cent), North Okanagan (7.8 per cent) and Revelstoke (5.2 per cent).
While foreign buyer and speculation taxes have been announced in areas like Victoria, Kelowna, Nanaimo and the Lower Mainland, Sun Peaks, Whistler, and other tourism destinations are exempt as their economies rely on tourism.
Read more in the next issue of SPIN, out July 13.