|
Mississauga, ON (May 01, 2007) – Luxury recreational property sales are set
to soar in coming months as affluent baby boomers drive demand for upscale
product from coast-to-coast, according to a report released by
RE/MAX.
The 2007 RE/MAX Recreational Property Report found the top-end of the
market stands to gain most from the aging baby boom demographic, as many
prepare for their retirement years. Teardowns, custom-builds, and renovation
continue unabated as a result, changing the shoreline of lakes and rivers
in 34 of the 39 markets surveyed from Newfoundland/Labrador to British
Columbia. Upper-end sales have also affected
recreational property values across the board, placing upward pressure on
prices, particularly in Western Canada. Starting
prices have topped $500,000 in 31 per cent of recreational property
markets. Only seven offer waterfront properties under the $250,000 price
point.
It's been said that money made in stocks and bonds typically works its way
into real estate. This year is a prime example, as economic performance and
stock market profits have propped up activity in most Canadian markets. The
boomer attitude is go big or stay home.
|
|
