With summer fast approaching, Canada’s recreational property market is starting to pick up and high-end properties in Ontario are among the leaders, according to a report released Thursday by Royal Lepage.
Cottage / lake / dock
The long, cold winter delayed the spring buying season, but with warmer weather apparently here, real estate agents are getting busier across the country.
And while no sales figures were mentioned in the Royal Lepage Recreational Property Report, it says it is anticipating a healthy market for the remainder of the spring and summer.
The report sees a shift in why people are being these properties. In the past, low-interest rates made cottage purchases a good investment, but it seems people are now looking at them more as a long-term lifestyle option.
Locally, the report says the Rideau Lake area followed the trend with a slow start to the year, but the market is showing signs of life. Prices range from $150,000 to $200,000 for inland properties and $265,000 to $400,000 for waterfront properties with land access. Waterfront properties with water access only range from $175,000 to $350,000.