B.C. leads pack for priciest property on the beach

Tuesday, June 1st, 2010

Paul Luke

B.C. residents considering buying a recreational property are mainly motivated by a desire to improve their lifestyle, according to a new survey done for Royal LePage Real Estate Services.

Forty-nine per cent of potential purchasers in B.C. identify lifestyle as the chief reason they would buy recreational property, compared with the national average of 47 per cent, according to the survey released Monday.

Forty-four per cent of people in B.C. who are pondering the purchase of recreational real estate see it as a good investment, compared with 43 per cent nationally, the survey done by Angus Reid found.

In terms of coveted features, 53 per cent of potential buyers in B.C. place a priority on waterfront or beach access and 44 per cent prize four-season use.

Twelve per cent of potential B.C. buyers place great emphasis on buying property in an an ecofriendly region — the highest percentage in the country.

Recreational property in B.C. has the country’s highest average price range for a typical three-bedroom waterfront property with land access, the survey found.

B.C.’s recreational property ranges between an average of $345,000 and $1.5 million.

Ontario was second most expensive, with property averaging $140,000 to $1,050,000.

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