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What would you do to Own a Cabin in the Woods?

Thursday, July 23rd, 2015

The recreational property market has had a strong start and is expected to remain active throughout the Canadian summer. Find out what is driving sales in the 2015 RE/MAX Recreational Property. RE/MAX also examined what Canadians would consider sacrificing in order to afford their dream cottage or cabin. Interestingly, giving up destination vacations is listed as number one on the list. Another notable finding was that 21 percent of Canadians would downsize their main residence in order to purchase a cottage, cabin or ski chalet demonstrating that Canadians are looking for alternative ways to finance their dream properties.

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Download you cpoy of the report from Dropbox here.

Highlights of this year’s report:

  • The majority of Canadians prefer long weekends at the cottage or cabin over big city getaways
  • 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

The low Canadian dollar is having a positive effect on local recreational property markets as Canadians are choosing to stay in Canada where their dollar will go further. Some are selling US properties that appreciated in recent years to take advantage of the exchange rate. The low Canadian dollar is also attracting foreign buyers to well-established recreational property markets across the country including Whistler, Tofino, Muskoka, Shediac, and PEI. Regions reporting an impact from the low Canadian dollar but no increase in foreign buyers include Shuswap, Lake Winnipeg, Penticton, and Thunder Bay.

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