Recent articles in The Vancouver Sun and the Times Colonist conclude that although some purchasers are still cautious about acquiring recreational property, a combination of lower prices and an upturn in market conditions, including lower interest rates and new rebates have placed families in the driver’s seat. Furthermore, with the pent-up demand building since the financial crisis 2008, purchasers are powering a large increase in cottage sales across the country.
There is a renewed post-recession interest in B.C.’s recreational property market and it’s largely from young families attracted by lower prices. According to a recent report, RE/MAX Recreational Property Report 2012, prices are not only down from 2009 but also generally down from 2011. Here at The Cottages at Cultus Lake our 2012 prices are the best we have seen since launching in 2007, starting at $334,900! We are seeing more confidence in those looking to purchase a family cottage this summer, and the success of sales this early on in the season is a true reflection of that.
The report also researched trends in 33 markets in 10 provinces. In looking at British Columbia independently, the report concluded that although properties at Cultus Lake have slightly softened in 2012, their rise from $450,000 in 2009 to $800,000 to $1 million in 2011 proves the strength and stable values of the Cultus Lake recreational real estate market when comparing it to others in the province.
A deeper look at the Cultus Lake also reveals a number of differences in market values, respectful to the different areas. The most significant factor supporting a steady increase of values here at The Cottages is the title of freehold land ownership, not to mention brand new quality construction and infrastructure as well as endless on-site amenities .
To read the full articles please find the links below: