A report released on Tuesday by RE/MAX says ski resort properties are more attainable than Western Canadians think.
The report says a recent RE/MAX survey indicated 67 per cent of Western Canadians don’t believe they could afford one of those recreational properties and only 23 per cent of respondents said they are able to purchase a ski resort property. And 71 per cent of respondents said they are most interested in properties with all-season resort capabilities.
“The perception is that ski resort properties are unattainable or only for the extremely wealthy,” said Elton Ash, executive vice-president of RE/MAX Western Canada. “However, in reality, the story is very different, with multiple ski resorts in Western Canada boasting affordable prices, making them attractive investments for both local and foreign buyers.
“With so many potential buyers of ski resort properties coming from urban and suburban areas, it’s clear that more Western Canadians are interested in pursuing some sort of lifestyle change. With ski resorts now boasting activities all year round, they’re more appealing to urban and suburban dwellers who want a change of pace.”
RE/MAX said the survey found that snow levels and quality of snow (53 per cent), proximity to restaurants and retail (51 per cent) and mountain elevation (37 per cent) were secondary to the interest in all-season resort capabilities, confirming that these types of ski resort properties are top of mind for buyers. Those living in an urban (27 per cent) and suburban (24 per cent) area are significantly more likely to be interested in owning a ski property in the near future, compared to those living in a rural area (16 per cent), said the residential real estate company.
The report said Canmore in Alberta boasts a number of different mountains and attracts buyers mainly from the province.
“Buying activity, largely driven by baby boomer/retiree local to Canmore itself and buyers from Calgary and Edmonton looking by a lifestyle change, peaks from March to July. There is a considerable amount of investment activity in the area as well. Prices start at $370,000 for a one-bedroom condominium and $464,000 for a two-bedroom condominium,” said RE/MAX.
– Mario Toneguzzi for Calgary’s Business
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