PIXABAY: FILE PHOTO

Where Canadians buy real estate abroad: report

Hot Spots: Top 30 home-buying destinations for Canadians in the Americas

Owning a beach-side Caribbean escape is a ‘once-I-win-the-lottery’ kind of dream for most Canadians, but many are still meeting that goal and buying international property.

Researchers at Point2Homes have released a ranking of the top 30 buying destinations for Canadians.

When you think of where Canadians travel most, the U.S. and Mexico likely come to mind, so it is no surprise they fill out the top two favourite spots to buy.

Mexico claims the top spot in the list, a place it has held since a similar report was released in 2015. The United States comes in second, a jump in popularity compared to three years ago when it came in fourth.

Costa Rica is the third most sought-after location, falling one spot compared to 2015 when it was second.

Belize is in fourth place, having ranked third in the previous report and the Dominican Republic holds the fifth spot.

The ranking was determined based on Canadian users’ Google searches conducted from January 2017 to January 2018, using keywords regarding homes for sale abroad, in countries located in the Americas. These countries were ranked based on monthly search volume.

Digging deeper into the report, the top five most sought-after Mexican locations for Canadians are:

  1. Puerto Vallarta with 2,940 monthly Google searches.
  2. Playa del Carmen, the fastest growing real estate market in Latin America, accounting for 1,470 searches.
  3. Cabo San Lucas came in third with 960 searches per month.
  4. The city of Mérida, fourth with 830 searches, famous for its rich Mayan and colonial architecture.
  5. The most expensive location in the country, Cancún, is in fifth place in the ranking with 800 searches.

Mexico is considerably more affordable than Canada when it comes to housing, with the average home price there of $52,325 CAD, more than 11 times less than it is in Canada

In terms of housing affordability, our southern neighbor is also more accessible than Canada, helping it reach second spot.

The median home selling price in the U.S. is $312,482 CAD, roughly half of the Canadian one

To see specific figures on all the 30 destinations included in the top home buying destinations ranking hover over the bars in the chart above or check out the full report here.

To report a typo, email:
newstips@kelownacapnews.com
.


@carmenweld
carmen.weld@bpdigital.ca

Like us on Facebook and follow us on Twitter.

 

Just Posted

Two victims of Aldergrove deck collapse in ICU, several others still in hospital

Close relative Satwant Garcha makes daily trips to visit those injured at the wedding

Langley youth coach banned amid sexual harassment, bullying scandal: Water Polo Canada

Justin Mitchell can’t take part in Water Polo Canada events or clubs

Annual Langley Walk makes its way to Aldergrove

This weekend, Langley’s walkers and runners will get further acquainted with Aldergrove.

Therapeutic riding ‘frees’ Langley MS sufferer

Aldergrove non-profit equestrian association in desperate need of volunteers

South Langley’s next generation of tractor pullers

A cohort here to prove a lot more fun can be had with garden tractors, than just mowing lawns.

VIDEO: ‘Alarm bells’ raised by footage allegedly from B.C. pig farm, SPCA says

PETA released video Wednesday showing dead and injured piglets next to nursing piglets

New report on 2017 wildfires calls for better coordination with B.C. First Nations

Tsilhqot’in National Government documents 2017 disaster and lists 33 calls to action

Two victims of Aldergrove deck collapse in ICU, several others still in hospital

Close relative Satwant Garcha makes daily trips to visit those injured at the wedding

Wilson-Raybould: Feds want to just ‘manage the problem’ of Indigenous Peoples

Former federal justice minister speaks at First Nations Justice Council meeting in B.C.

VIDEO: Driver in bizarre hit-and-run at B.C. car dealership turns herself in

Police believe alcohol was a factor in incident causing estimated $15,000 in damages

Female real estate agents warned of suspicious man in Metro Vancouver

The man requests to see homes alone with the female agent, police say

Can you put your phone down for Mother’s Day?

#DiningMode campaign encourages people to leave the phone alone while eating

Horgan heckled as gas prices sit at record high, could go up more

Premier John Horgan blames refiners, not taxes

Most Read