Recreationl Market Update



JUST LISTED!
LONGPINE LAKE, INGOLF - View Listing

Kenora/Lake of the Woods

  • Baby Boomers and Gen Xers are beginning to drive the recreational market
  • Early activity shows Buyers are coming from Winnipeg, Steinbach, Kenora, Alberta and Minnesota
  • Many new listings are coming to market weekly
     

The 2018 Re/Max Recreational Report was recently released

  • One in three survey respondents (33 percent) say they own or want to own a recreational property for investment purposes
  • Buyers are increasingly renting in urban centres while purchasing recreational properties
  • Other than affordable purchase price, waterfront rated as the most important feature to Canadians when considering spending time at a cottage or cabin
  • The survey found that many individuals are engaging in more active forms of retirement, choosing to maintain physical fitness and emotional fulfillment by pursuing passion projects and leading lifestyles that involve farming, hiking, and maintaining vineyards

Leger Survey

  • In a separate survey conducted by Leger, 6 in 10 Canadians (58%) enjoy recreational properties at places where they can relax and spend time with friends and family. However, the majority of Canadians (84%) do not actually own recreational properties.
  • More than half of Canadians (54%) who own a recreational property, or are considering buying one, identify savings as their source of funding. 20% would use a loan, 20% would rely on home equity and 11% would rely on inheritance.

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