Every year RE/MAX issues a recreational property report. This report gives us a national overview of what recreational properties individuals and families are buying in Canada and features locations for each Province.
Highlights for 2015:
- 68% of Canadians would rather go to a cottage or cabin for a weekend get-away instead of a trip to the big city.
- The low Canadian Dollar and foreign buyers are creating demand in well-established Canadian recreational property markets
- The recreational property market buying season has had a strong start and is expected to remain active throughout the summer as continued low interest rates and consumer demand fuel activity
- 21% of Canadians would downsize their main residence in order to purchase a cottage, cabin or ski chalet. This demonstrates that Canadians are looking for alternatives for their lifestyle.
Featured British Columbia Locations
A useful tool within the report is the price and features charts. These charts document the region (location), property type, median price range, and amenities for each Province. The report also features nine specific locations across Canada. Whistler, the Okanagan, and Shuswap were the featured recreational properties for the British Columbia region.
Buyers are drawn to the outdoor activities, amenities and property options of Whistler. Condos in Whistler Village are the most popular, especially for people wanting to walk from their living room straight to the mountain for skiing or summer downhill biking. Townhouses and chalets are also popular among recreational buyers in this region. This year has seen an increase in foreign buyers as a result of the lower Canadian dollar.
The Okanagan Valley, located in southern British Columbia, is one of the warmest regions in Canada, with over 100 lakes within driving distance. A popular destination for watersports! The region offers many options for recreational property buyers, from budget-conscious to ultra-luxurious.
The Shuswap, an hour’s drive from Kamloops, is known for the lake and its many watersports, music festivals, houseboat vacations, golf courses and local farmer’s markets. The annual Salmon Arm Roots & Blues Festival, which is held each August, draws more than 30,000 people every year.
Recreational Property Trend
Canadians who have seen their US recreational properties appreciate over the last few years are now selling their American properties in order to buy in these Canadian regions, taking advantage of the low Canadian dollar.
A strong start to the recreational property market buying season, this trend is expected to continue actively throughout the summer. Continued low interest rates and consumer demand is what’s fueling this recent buying activity.
How YOU can use this year’s report:
- Use the median price and property type chart to search for property averages in your chosen area
- Find out what’s happening with recreational property markets across Canada
- Share this recreational property information with friends and family
- Use for recreational property planning purposes
If you are in the market for a recreational property and would like assistance researching the perfect one, contact us, we know someone who can help!
- July 2018 Real Estate Market Update - August 8, 2018
- Should You Finish The Basement Before You Sell? - January 10, 2018
- Real Estate Market Stats November 2017 - December 11, 2017
- 6 Ways To Save Money On Energy Costs This Winter - November 15, 2017
- Victoria Real Estate Market Stats October 2017 - November 6, 2017
- Getting Ready For Winter - October 20, 2017
- 2017 Franchise Times Ranks RE/MAX Top Real Estate Brand - October 19, 2017
- Victoria Top City For Canadian Women Again! - October 18, 2017
- Preparing Your Home For Sale – 10 Mistakes - October 3, 2017
- First Time Home Buyers - September 24, 2017