Winter Retreats Attract Investment

Posted in Real Insights | February 13, 2008

Did you know that Canadians are more committed than ever to owning winter retreats? The economic uncertainty in the US has served to further fuel interest in owning a winter recreational property north of the border. The 2008 Royal LePage Winter Recreational Property Report has shown increasing prices for recreational properties in traditional “winter” markets. “High levels of demand combined with limited inventory have pressured winter recreational property prices upward – a trend expected to continue well into the future,” said Lisa da Rocha, VP, Royal LePage Real Estate Services.  “Local buyers and foreign investors alike are realizing winter recreational properties are a sound long-term investment.” The top features sought by winter recreational property buyers are: rustic charm, extra guest bedrooms, grand fireplaces, great rooms, hot tubs, internet connections, and professional kitchens.  As a year-round retreat market, attractive in both winter and summer, Niagara-on-the-Lake may benefit from the growing inclination to maintain recreational property in Canada rather than the US.