Recreational writing

Curiously, a handful of articles regarding recreational real estate seem to be my lot this week. Scanning prices for waterfront properties across Canada, I always find myself noting how much higher average prices are in British Columbia than elsewhere. Yet my interviews with brokers and agents tell me I shouldn’t be surprised. With cash-rich Albertans and retirees from Greater Vancouver looking for getaways within driving distance, lakefront properties in the B.C. Interior are rising in value by as much as 20 per cent a year. You'll be able to read more about my findings in forthcoming issues of Western Investor and other publications.

It's not just recreational property values that are rising. Construction costs for new properties also continue edging upwards, a phenomenon I touch on in the current Western Investor. The increases are especially challenging for developers of sustainable projects commited to providing many public amenities. Victoria’s Dockside Green is a case in point. The Woodward’s project in Vancouver also faces challenges, with developer Westbank Projects Corp. still trying to get a handle on the final cost of an ambitious venture currently estimated to require $300 million.