{"id":10030,"date":"2018-08-13T15:15:01","date_gmt":"2018-08-13T22:15:01","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10030"},"modified":"2018-08-08T08:37:25","modified_gmt":"2018-08-08T15:37:25","slug":"demand-for-recreational-properties-is-surging","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/demand-for-recreational-properties-is-surging\/","title":{"rendered":"Demand for Recreational Properties is Surging"},"content":{"rendered":"<p style=\"text-align: justify;\">A survey from REMAX revealed that demand for recreational properties is surging.<\/p>\n<p style=\"text-align: justify;\">In particular, the survey showed that retirees are driving demand for vacation properties in 91% of regions surveyed. Moreover, 78% of regions surveyed showed that the median prices of recreational properties increased in 2018 compared to last year.<\/p>\n<p style=\"text-align: justify;\">Elton Ash, REMAX\u2019s regional executive vice president, says that, while Quebec was excluded from the survey, Ontario and British Columbia showed the strongest results.<\/p>\n<p style=\"text-align: justify;\">\u201cCottage country north of Toronto up to the Haliburton area, and British Columbia, are the most popular,\u201d he said. \u201cThere\u2019s a slightly softer market in the Prairies and Maritimes.\u201d<\/p>\n<p style=\"text-align: justify;\">Moreover, he says that the trail edge of baby boomers are leading the charge.<\/p>\n<p style=\"text-align: justify;\">\u201cThe key finding is Canadians want to own recreational property. This report showed the trailing edge of the baby boomer demographic is influencing the market to a greater extent than we\u2019ve seen in the past. Canadians continue to want to enjoy the lifestyle that owning recreational properties provide.\u201d<\/p>\n<p style=\"text-align: justify;\">The same boomer demographic recovered from the Great Recession with relative ease, too, he added.<\/p>\n<p style=\"text-align: justify;\">Another interesting result from the survey is that Canadians who own property in the United States are able to capitalize on the high American dollar and \u201crepatriate\u201d Canadian dollars.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s a contingent of Canadians selling their sunbelt properties in California, Arizona and Florida, reaping the benefits of strong price recovery and demand in the US and in Canadian dollars, so when they bring that strong US dollar back into Canada there\u2019s a high ROI on that,\u201d said Ash. \u201cThere\u2019s repatriation of Canadian dollars out of the US coming back into Canada affecting the market positively, specifically in Ontario and BC.\u201d<\/p>\n<p style=\"text-align: justify;\">Some people are even working remotely from cottage country or their winter homes in the United States.<\/p>\n<p style=\"text-align: justify;\">\u201cTo the extent that that expands further, I think it will further enable the larger trend of working from places that you like,\u201d Brad Henderson, president and CEO of Sotheby\u2019s International, told The Canadian Press.<\/p>\n<p style=\"text-align: justify;\">\u201cMy place of pleasure is in Naples, Fla., not even in my country,\u201d he added.<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/recreational-properties-booming-246167.aspx\" target=\"_blank\" rel=\"noopener\">Recreational Properties Booming<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A survey from REMAX revealed that demand for recreational properties is surging. In particular, the survey showed that retirees are driving demand for vacation properties in 91% of regions surveyed. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/demand-for-recreational-properties-is-surging\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10030","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Demand for Recreational Properties is Surging &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/demand-for-recreational-properties-is-surging\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Demand for Recreational Properties is Surging &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A survey from REMAX revealed that demand for recreational properties is surging. 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