A new report predicts an increase in the value of recreational properties in Alberta this year. The report from Royal LePage says recreational homes in the province will rise 2.5 per cent this year. Last year, the median price of an Alberta recreational property was $860,000. Royal LePage says demand for homes near Banff National Park has remained steady, and the buyers are generally from three categories. “We’ve got people that are looking to retire here,” said Royal LePage Solution’s Brad Hawker. “We’ve got people that are looking to purchase recreational property for their young teenagers so they can create their family memories that they’re visualizing, and then also others that are looking to kind of help subsidize the purchase or the ongoing costs by buying a short-term rental.” The report also says the “Buy Canadian” movement is impacting the recreational property market, with many Canadians planning to sell their properties in the U.S.
