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

Kelowna council puts controversial Capri-Landmark plan on hold

Councillors concerned about proposed plan to extend Sutherland Avenue

Two bands and dueling guitars come to rock in Kelowna

Secondhand Habit and Not Even Noon bring their passion under one roof for one night

UPDATE Downtown Kelowna winery evacuated due to gas leak

Kelowna Fire Department evacuating the Sandhill Winery on Richter Street Monday afternoon.

West Kelowna water park to close for the season

Summer is coming to an end and so is the water park fun

Motorbike crash on Highway 97 in Kelowna

A Cooper Mini and a motorbike collided at Highway 97 and Leckie on Monday

‘Fire tornado’ erupts as firefighters battle interior B.C. wildfire

Firefighters near Vanderhoof were taken by surprise

Abdelrazik torture lawsuit delay would be unconscionable: lawyer

The federal government is making a last-minute plea to delay the Federal Court hearing

Trudeau upset after meeting with Saskatchewan chiefs

Trudeau is upset about how time was managed in a recent meeting

Vernon police respond to accusation of delayed 911 action

Vernon RCMP are working with Westshore Estates residents following complaints of delayed 911 response.

B.C. tent city ‘devastated’ after flash flood

Maple Ridge mayor says that residents shouldn’t have to return to their flooded tents

Filipino-Canadians concerned about family after typhoon hits Philippines

Typhoon Mangkhut has killed 66 people in the Philippines and four in China

Ottawa looks at having retired judge help guide renewed pipeline review process

The feds would only says that ‘multiple options were on the table’

Canada bans use of trans fats in food products

Trans fats are know to cause heart disease

Armstrong Metalfest gears up for year 11

Band submissions open until Nov. 1

Most Read