July 14, 2008
Royal LePage Recreational Property Report
Did you know that that Canadians overwhelmingly see the benefit of owning real estate – be it a primary residence or a cottage? The 2008 Royal LePage Recreational Property Report found that 61% of cottage owners and seekers feel that a cottage is a better long-term investment than stocks, bonds or mutual funds. Young professionals make up the largest group of those planning a cottage purchase. Phil Soper, CEO of Royal LePage Real Estate Services says, “The fact that an increasing number of young people are joining more mature adults in the quest for a recreational retreat comes as no surprise; today’s young adults are increasingly savvy when it comes to investments. The average age of first-time homeowners continues to drop. It’s only natural for this trend to spill over into the cottage market.” Canadians list the top three recreational property features to be a pristine waterfront, four-season capability, and low maintenance requirements.
