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

22nd year of smoke and noise

Bulkley Valley Drag Racing Assoc categories: Super Pro, Pro, Bike Sled, Diesel, and Junior Dragster.

BV medals at BCs

Two Smithers Secondary School 2018 graduates medaled at the B.C. Athletis Championship in Coquitlam.

One wheeled skateboard ready for camps

Next Smithers skateboard camp is Aug. 7-9.

Lake Babine Nation councillor resigns before being sworn in

Paul Joseph steps down before being sworn in

Kevin Kriese becomes chair of the Forest Practices Board

Smithers’ Kriese’s three-year appointment beings August 7.

BC Games: Day 2 comes to an end

Hundreds of medals have been handed out at the 2018 BC Summer Games in the Cowichan Valley

B.C. mining company, involved in 2014 spill, ordered to pay lost wages

Mount Polley Mining Company must pay wages to 26 employees who were laid off without proper notice

Two significant wildfires burning in southeastern B.C.

More than 20 fires were burning in the Southeast Fire Centre as of Saturday afternoon

Volunteers provide the glue that keeps BC Games moving

The 2018 Cowichan Summer Games had more than 2,300 volunteers on hand across Vancouver Island

No Name brand chicken nuggets recalled due to possible salmonella

Canadian Food Inspection Agency says multiple illnesses reported in B.C., Alberta and Ontario

Lodeiro scores twice to help Sounders beat Whitecaps 2-0

Seattle’s Nicolas Lodeiro opened the scoring in the fifth minute when he converted a penalty kick

Race walker breaks 18-year-old BC Games record

Zone 6 athlete Olivia Lundman crossed finish line with ease, to loud cheers in Cowichan

PHOTO GALLERY: BC Games Day 2

A brief look at action from the 2018 BC Summer Games in the Cowichan Valley

BC Wildfire update on 14 major Okanagan blazes

Watch the media briefing on the current fire situation in the Okanagan.

Most Read