2020 has been a difficult year for many across Canada, however it is also presenting new opportunities as people’s needs and trends adapt to the new normal. As has already been reported extensively, many people – who are now working from and spending much more time at home – have sought larger houses to better enjoy their own property. This has raised the prices of residential properties by about 15% versus 2019 prices.
Now real estate brokerage company Royal LePage is reporting increased demand for recreational properties. From cabins, cottages, vacation homes, to rural land, RLP is also seeing an almost 12% price increase for these recreational properties versus 2019 prices. The brokerage is also reporting that inventory for these properties are now at a 15-year low due to the increased demand. This will put additional upward pressure on the prices of these recreational properties.
Royal LePage is also seeing increased demand for the recreational properties from retirees, as they seek to improve their quality of life by moving away from the larger urban centres.
Capital Growth, which provides commission advances to Canadian Realtors, is seeing similar trends from incoming deals agents are seeking commission advances upon. And Capital Growth is fully equipped to provide commission advances on all deal types, including the above mentioned cabins, cottages, vacation homes, and rural land.
Contact us today to learn how to get your commission advance started!