As referenced previously, tourism and travel remains a top industry in Canada. Indeed, each and every year, an ever growing number of men and women are flocking to the Great White North for holiday or vacation purposes. Consequently, the demand for holiday real property has increased significantly, particularly over the course of the past twenty to twenty five years.
Quite like in the United States, investment in holiday property in Canada is taking two different forms. First of all, people — both Canadians and foreign nationals — are buying holiday property for their own, personal use.
In addition (and as has been mentioned previously) a growing number of people are buying vacation properties to be utilized for more of an investment purpose.
Foreign nationals, for example, can be found buying holiday property which they then in turn lease or rent to other individuals who happen to be on vacation of holiday. For some investors, this has proven to be a very lucrative avenue of real estate ownership.