Country Guides Country Guide: Canada

Date Published:

29/05/2008

Canada is one of the countries of choice for the discerning overseas property buyer. Whether you are looking for a city apartment or a log cabin in the country, there's something for everyone in this huge nation, which covers over 3,500 miles from coast to coast.

By Gordon Miller

As winter approaches and thoughts turn to snow, Canada is a country that features high on the connoisseur's list of favourite destinations. Largely rural, but also home to the big cities of Toronto and Montreal, the eastern (Maritime) provinces have an outdoors way of life and property prices that are considerably lower than Britain's. A rural house with a lake or sea view can be picked up for as little as CAD$100,000 (£46,500) while around £135,000 will buy you a lakeside apartment at Le Grand Lodge, Mont Tremblant.

Situated on a swimming-lake with prime ski-slopes only minutes away and next to Quebec's largest national park, Le Grand Lodge is a luxury boutique hotel providing one-, two-, and three-bedroom fully fitted and furnished apartments with lake views. Sold on a freehold buy-to-let basis the apartments come with a guaranteed 6 per cent per annum rental return for the first two years. Onsite facilities include a spa and indoor sports complex.

www.premierlegrandlodge.co.uk

Mike Coyle, sales director, for Premier Resorts, who are marketing Le Grand Lodge (www.premierlegrandlodge.co.uk) in the UK, outlines the resort's appeal: 'Canada is a relatively new destination with pricing still well below European levels for similar ski and or golf projects,' he says. 'Current prices at Le Grand Lodge are around £270 per sq ft, fully furnished, which is cheap compared to Southern Europe, for example.'

Located only a 75-minute drive from Montreal International Airport, Le Grand Lodge is close enough to experience the unique atmosphere of Montreal, a French-speaking city in a country whose first language is English. Naturally, in Montreal, road signs are in French too. Property prices, however, are distinctly British in their escalation in recent times – capital growth has been more than 10 perc cent over the past year, according to the Knight Frank Global Index.

In the city, agent Imoinvest is selling 333 Sherbrooke, located on the edge of the vibrant and popular Le Plateau district of downtown Montreal. Bordering the historical Carré St Louis Park, this community is inhabited by many of Montreal’s most esteemed writers, playwrights and artists. A new development, apartments at Sherbrooke each have open-plan interiors, floor to ceiling windows and hardwood floors throughout. Comprising 201 luxury condominiums, prices start from €167,000 (£115,000) for a 60m2 studio.

Across the other side of the country, Vancouver is the largest city (population 1.8 million) in the province of British Columbia and the third largest in Canada. It's surrounded by water on three sides and nestles up to the Coast Mountain Range. Regularly voted the best city in North America for quality of life, Vancouver is home to spectacular natural scenery, has a bustling metropolitan core, and one of the mildest climates in Canada.

Property prices reflect the city's desirability – a three-bedroom house will cost in the region of CAD$405,000 (£188,000). Like much of North America, 2006 has seen a slowdown in property sales in the city if not prices. Despite a 25.2 per cent decrease in the number of properties sold year-on-year to July 2006, capital appreciation is running at 20.8 per cent over the same period. 2007 is expected to be a 'cusp year with capital growth slowing and house sales holding firm.

'Last year was the best year on record for real estate in the Greater Vancouver area and the 3,652 units we moved in July 2005 were a bit of a market anomaly,' says REBGV president Rick Valouche. 'The numbers we saw in summer 2006 are closer to the sales figures we saw in 2004. At 23,223 units, our year-to-date sales indicate that we are still in the midst of one of the strongest real estate markets in our board’s history.'