Quebec seen as hot cottage market
June 18 2018
According to a cross-Canada survey of Royal LePage’s recreational property specialists, the recreational market is primed for growth in 2018 as buyers flock to lakes and mountain tops with an eye towards retirement or a secondary home to raise children.
The price of a recreational property in Canada is forecast to increase 5.8 per cent year-over-year to $467,764.
Quebec, according to Royal LePage CEO Phil Soper, will be one of the hottest cottage markets in the country.
With forecast price of $290,271, Quebec’s recreational market is expected to witness healthy growth, as the province’s robust economy draws many purchasers from major city centres into more rural regions, the report suggests. According to the Royal LePage survey, 43.8 per cent of respondents in Quebec believe that the number of buyers looking to acquire a recreational property as their first home will increase in 2018 when compared with 2017.
“We believe strongly in the future of Quebec’s recreational property market,” said Soper. “With an expanding economy providing more disposable family income, we expect regions like Mont-Tremblant to enjoy strong chalet sales volumes and appreciating property values.”