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Hospitality Industry Trends |
Saturday July 4th, 2009 |
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Canadians Show Strong Interest in Owning Recreational Real Estate says Harris Decima Study |
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Of the total population included in the survey, 14% currently own some type of recreational real estate asset. Within this group, 57% are sole recreational property owners and 43% have invested in shared ownership assets, including timeshare or fractional ownership properties. |
A recent Harris/Decima study in the recreational real estate sector uncovered significant interest in the purchase of leisure real estate properties among Canadians.
Of the total population included in the survey, 14% currently own some type of recreational real estate asset. Within this group, 57% are sole recreational property owners and 43% have invested in shared ownership assets, including timeshare or fractional ownership properties. Owners of recreational real estate are predominately high income earners ($100k plus) and over 40 years of age.
The survey also found that 36% of those who are sole owners purchased their property prior to 1990, whereas 43% of timeshare investments are fairly recent and occurred in the 90's while fractional ownership investment is even more recent with most acquisitions made since the year 2000.
Canadians that own recreational real estate tend to be much more frequent travellers than those who do not. While one third (31%) of Canadians travel nationally only once per year the trend is higher among those who expressed interest in owning recreational property:
-28% of those interested in sole ownership travel locally 5 to 9 times on average per year
-27% of those interested in fractional ownership travel 5 to 9 times
-23% of those interested in timeshare travel 4 times per year
As many Canadians (30%) take one trip per year on average to the US, however, owners of shared recreational real estate properties (42%) and those interested in shared ownership travel to the US more often:
-53% of those interested in timeshare make at least one trip per year
-46% of those interested in fractional ownership make at least one trip per year
A group of 300 respondents (or 30% of the total population in this representative survey) indicated they are interested in purchasing a recreational property. Peak purchase interest among these potential recreational real estate buyers is predominantly focused on sole ownership assets:
-71% are interested in acquiring sole ownership properties
-15% are interested in timeshare
-14% are interested in fractional ownership
Though visiting family prompts many Canadians to travel, vacationing for pure leisure and enjoyment is quickly catching up:
-49% travel to visit family
-42% do so for recreation, amusement, parks or resorts
-30% to experience nature
-25% to experience other cultures
The beach, sun and sand reign supreme when it comes to desirable amenities that can close the deal! Half the owners (48%) in the survey prefer to be near the beach and almost as many (46%) want retail facilities nearby.
A total of 1,004 respondents participated in this study focused on leisure, travel and investment patterns with Canadians across the country. Data for this Harris/Decima study was collected in September 2008.
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Contact Information:
Ozean Group
27-1300 King St. E. Suite 194
Oshawa, ON
L1H 8J4
Canada
Tel. 416-840-6565
Click for Website
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Online source for hotel industry news. Part of the Nevistas network of travel and hospitality industry web sites. |
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