So, why are the Canadians still focused on the Caribbean as their second homes? It is so darn COLD there half of the year!
Eleven months ago it was the British Boomers who were flocking to the Caribbean. Who has taken over those purchases are the Canadians! The Canadian market has been the largest increase in Caribbean real estate purchases this past year – both fractionals and full deeded ownership.
The Canadian demand for second home is being fuelled by their Boomers’ desire to re-invent their retirement lifestyles – following the sun! It is REALLY COLD from Edmonton to Nova Scotia half of the year! With direct flights to the Caribbean from Toronto and Montreal the entire Caribbean is easily accessible – from Aruba to the Dominican Republic. And, this year 42% of our Canadian Buyers have been paying ALL CASH for their real estate purchases! Here are the results of the Harris/Decima study following the Canadian trends.
14% of the Canadian population own recreational real estate asset.
57% of owners are sole recreational property owners.
43% of owners have invested in shared ownership assets – fractional ownership properties.
36% of those who are sole owners purchased their property prior to 1990.
43% of fractional and timeshare ownership investment with most acquisitions made since the year 2000.
59% increase in second home ownership among Canadians since 1990.
30% of the total population in the Harris/Decima Survey indicated they are interested in purchasing a recreational property asset.
71% are interested in acquiring sole ownership properties.
14% are interested in fractional ownership.
48% prefer to be very close to the beach.
46% want retail facilities nearby.
Contact me today if you want to get in on what the Canadians are discovering in the Caribbean for their second homes. The Caribbean continues to be the real estate HOT SPOT in the Western Hemisphere. Until next time…go Maple Leaf’s!
