Recreational properties still a bargain on P.E.I., says real estate company
If you're looking for a summer cottage P.E.I. still offers some of the best value in the country, according to the 2017 Royal LePage Canadian Recreational Housing Report.
The report found the average recreational property in Canada is selling for $439,000 in Canada, but the average price on P.E.I. is just $225,500.
The Canadian average was driven up by high prices in British Columbia ($595,100) and Alberta ($816,700). The cheapest properties were in New Brunswick, averaging $179,500.
If you're willing to forego waterfront, buying a woodland cabin on P.E.I. will save you more money, with an average price of $162,000. Oceanfront prices average $289,000.
Despite rules restricting non-residential ownership, foreign ownership of recreational properties is slightly higher than the national average, between five and 10 per cent.
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