Mexico, the U.S. and Costa Rica top the list of most popular places for Canadians to buy a second home. Meanwhile, El Salvador and Grenada have received a notable rise in interest.
Despite recent sweltering summer temperatures, Canadians looking to buy a second home are seeking out the sun.
Mexico, the U.S. and Costa Rica are the three most popular locations for Canadians to buy a second home or vacation home, according to real estate search portal Point2.
By analyzing the search volumes for more than 2,000 real estate-related keywords, Point2 compiled data for 2022 on the most popular homebuying locations in the Americas, outside of Canada.
Within these two continents, Mexico remains the number one spot for Canadians to go house hunting. In the past 12 months, the country was the focus of almost 40,000 monthly real estate-related searches.
Pola Damonte via Getty Images / Moment / Getty Images
This popularity contributes to its 28 per cent year-over-year increase in searches, most recently focused on Puerto Vallarta, Tulum and Playa del Carmen. With the median home price in Canada reaching $665,850 in June, the lower average property price in Mexico and the lack of snow falling from the sky could be two factors upping this country’s appeal.
Even closer to home, the U.S. remains a very popular place for Canadian homebuyers to flock to. Currently hovering at around 18,000 monthly searches, U.S. real estate-related searches continue to increase as it claims second place to Mexico.
Source: https://www.nsnews.com/highlights/heres-where-canadians-are-hunting-for-second-homes-in-the-americas-5650863
