Country Cottage Revival – The Western Investor

The Western Investor gains an in depth look at BC’s recreational property and discovers that Spring sales surge as back-to-basic-buyers discover true value in small-town recreational markets.

“vacation buyers are looking for solid, simple value, not innovations such as the hotel condos, leased land or fractionals that defined the last boom.”

“Developers who are offering full ownership, however, have found stability sells.”

The Cottages at Cultus Lake is featured in this enlightening article, suggesting the development is “evidence of the search for value…where 165 freehold cottages a block from Cultus Lake have sold at prices of around $300 per square foot.”

Cultus Lake combines many of the features hard-nosed buyers are looking for:
• freehold land with detached cottages;
• close to the lake and next to a golf course; and
• a short (under two-hours) drive from the Lower Mainland.

Jon Van Geel, the Developer of The Cottages was interviewed by The Western Investor commenting that after the HST came into effect in 2010 – slapping the full 12 per cent tax onto secondary residences – “we had more people looking but less people buying.”  With the change this April, which allows vacation homes the same rebates as principal residences for the next year until the tax ends, “sales have shot up,” Van Geel said.

To read the full article, click Western Investor – Country Cottage Revival

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