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

Committee to oversee expansion of Teck coal mine in Sparwood

Socio-Community Economics Effects Advisory Committee formed; plus other District of Sparwood news

Accused in Fernie stabbing case remanded in custody

Livan Chris Barnett is scheduled to appear in Cranbrook Law Courts via video on December 17

Hosmer woman victim of a broken health system

Breast cancer patient left to fight disease alone after being denied referral to Calgary

Law professor owes career to Legion scholarship

Forty years after receiving an invaluable scholarship, Nancy Banks has paid it forward

Avalanche Canada issues special public warning

Very weak layer buried under recent snow a cause for concern

Some types of cauliflower, lettuce recalled over E. coli fears

The Canadian Food Inspection Agency announced recall because of possible contamination.

Ryan Reynolds to narrate movie about B.C.’s Great Bear Rainforest

Vancouver-born actor known for Deadpool movies will voice film to be released Feb. 15, 2019

Airline passengers could get up to $2,400 for delays, damaged bags: Canadian agency

Canadian Transportation Agency is releasing draft regulations for public feedback

Top of mind: ‘Justice’ is Merriam-Webster’s word of the year

Merriam-Webster has chosen “justice” as its 2018 word of the year, driven by the churning news cycle and President Trump’s Twitter feed.

‘Spider-Verse’ swings to the top; ‘Mortal Engines’ tanks

“Spider-Verse” has been very well-received among critics, and audiences in exit surveys gave it a rare A+ CinemaScore.

Canadians spent almost $64,000 on goods and services in 2017

Households in B.C. each spent $71,001 with housing costs contributing to higher average

Speaker at rally says Alberta oil ‘puts tofu on the table in Toronto!’

RCMP estimated more than 1,500 people attended the rally in Grande Prairie

White House closer to partial shutdown with wall demand

Without a resolution, parts of the federal government will shut down at midnight on Friday, Dec. 21

Canucks score 3 power-play goals in 4-2 win over Oilers

Vancouver sniper Boeser has 6 goals in last 5 games

Most Read