Condos for sale richmond hill . Holiday homes at high-end ski resorts have a market price. When the economy is in the doldrums, the property market of holiday homes, which is regarded as luxury goods, is bound to be hard hit.
It seems that the property market of holiday homes in many ski resorts in Canada has suffered a serious decline in house prices and sales for nearly 10 years due to the impact of the global financial tsunami in 2008. However, this phenomenon has eased this year, and many of Canada’s top ski resort property markets have turned around and even boomed again.
(Sotheby’s International Realty Canada), a Canadian real estate company Sotheby’s, released a report called “2017 Top-Tier Ski Real Estate Report”, which analyzed the transaction volume and prices in the property market of the country’s top ski resorts. It is found from the data that in the first 10 months of this year, the ski vacation property market in these areas has shown signs of recovery, which is believed to be due to the country’s strong economy, the change in the lifestyle trend of baby boomers, the low exchange rate of the Canadian dollar, the rise in consumer confidence, and so on.
Brad Henderson, the company’s chief executive, pointed out that the property market of many ski resorts in Canada was dragged down by the global economic crisis of 2008-2009, and it took at least five years for the market to stabilize. However, the pace of recovery has risen rapidly in recent years, and consumer demand has increased sharply, making the market bright again. He predicts that this ski season will be the strongest year in the market for top ski resorts in recent years.
Ontario’s most famous ski resort is (Blue Mountain), which is about a two-hour drive from Toronto. According to the report, holiday properties in the area show strong signs of recovery. In the first 10 months of this year, the transaction volume of properties worth more than $1 million has more than doubled compared with the same period last year, from 22 last year to 50 this year. The transaction volume of properties ranging from $500000 to $1 million has also increased from 90 cases in the same period last year to 111cases this year, an increase of more than 20%. As for high-grade holiday properties worth more than 3 million yuan, there has also been a good rise this year. Looking back at the history of Blue Mountain Holiday property transactions, there are only 11 transactions, but it is worth noting that four of them are born within this year.
Property buyers are mostly from Toronto, real estate agents Kevin Gilchrist, who specializes in Blue Mountains and Collingwood areas, pointed out that most of the buyers who buy holiday properties in Blue Mountains are from Toronto, some from (Kitchener), and some from Ellicottville, south of (Buffalo), Buffalo City in the United States.
He revealed that these buyers are mainly from two classes, one of which is people in their 30s and 40s because their children are old enough to start skiing. In addition, the baby boomers who have retired or will retire in a few years’ time because they all have some money on hand, they can buy properties in this market for investment.
Kevin Gilchrist added that most of the vacation properties that buyers fall in love with are separate houses or co-managed Pawain, as well as multiple bedrooms. The most popular property is that there are two living rooms, because one is for children to play, and the other for adults to party or greet friends.
The upgrading of facilities attracts buyers’ blue mountain resort property to be favored by buyers again, which is also related to the upgrading of facilities in the resort. It seems that the new snow-making equipment, the new six private ski clubs and expressway improvement projects are all good for the holiday property market in the area.
In addition, Intrawest Resorts Holdings Holiday Group sold the Blue Mountain Ski Resort to Aspen Skiing Co.. And KSL Capital Partners, make people look forward to the possibility of more facilities and real estate development in the future.