30 June 2014
“The equity growth in urban center houses caused a higher demand for recreational homes,” – Gurinder Sandhu, executive vice president of Ontario and Atlantic Canada said. “And they are benefiting from it to buy cottages. In the end, we can see cottage sales increase and a significant rise in real estate prices.”
The report shows that the average buyer of a property in Port Carling is 35 to 45 years old, which is quite younger than during the previous years. So far, in 2014 there were 32 properties sold in Port Carling with the price over $1 million. 11 of them cost more than $3 million. The minimum price is $400,000.
“It doesn’t matter if they work on Bay Street or Main Street, we’re facing a strong and healthy housing demand today,” – Sandhu added.
We also want to remind you that we are starting a new refinance promo in the month of July – refinance with us and if your new mortgage is more than $350,000, we will pay your legal fees! Use equity in your home to purchase vacation home you’ve always dreamed of or spend it on whatever you need to!
Happy Canada Day to Everyone!