When regards to the cities with the highest prices of real estates, Toronto and Vancouver are found to be at the topmost of the list in Canada. On the other hand, Alberta is at the leading position with respect to cottages, being the one town in the country with the most expensive cottages. This is the latest analysis that was done in Canadian recreational properties by Royal LePage.
The cost of houses in Alberta are at about $816,700, according to the real estate agency. This price puts into consideration the calculated average of the different property types.This value is considerably greater than what buyers are paying for in either Ontario or British Columbia, where the real estate markets of Toronto and Vancouver are agitated in spreading to cottage country, says Royal LePage.
Why are cottages in Alberta costly?
Principally, prices in the province were directed by the minimal accessibility of lakefront property that were closer to major city centers, plus the swelling demand rising and falling from a local economy on recovery. In comparison to other oil-producing provinces, in which home values were kept controlled relatively due to prices in commodities, recreational properties beside Edmonton and Calgary have their own prices well before the recent economic pandemic. This can be found when compared to other market entities, said the chief operating officer at Royal LePage real estate services, Kevin Somers.
Below is a list from the costliest to the least expensive market on how much it costs to purchase a cottage in Canadian province.
1. Alberta costing $816,700
2. British Columbia costing $595,100
3. Ontario costing $413,000
4. Quebec costing $318,700
5. Saskatchewan costing $297,200
6. Nova Scotia costing $260,700
7. Manitoba costing $238,600
8. Prince Edward Island costing $225,500
9. Newfoundland costing $191,700
10. New Brunswick costing $179,500
J C Loum