Resort properties are referring to any real estate characterized by its natural resources or beauty destined for vacationing, recreational or leisure activities. Cottage, beach-front house, lakeside cabin, and leisure farm are all examples of resort properties.
When you decide to invest in resort properties, it is not only an investment decision, but also a lifestyle choice.
The demand for recreational real estate has been steadily rising and offers attractive return for the investment dollars, due to the following demographic changes:
- Baby boomers approach the retirement age and seek the lifestyle change by getting into the resort properties.
- Emergence of the younger generation (Generation Xs, Ys and Millennials) is increasingly interested in the resort properties, who mainly focused on leisure, travel and investment.
- More Canadians are changing their vacation style by taking weekend getaways and staying closer to home, which drives up the demand for recreational amenities close to big metropolitan centers, such as Toronto.
- Affluent overseas real estate investors are chasing the western lifestyle and buying into Canadian recreational real estate.