A recent survey by Point2 Homes found that of the 73 per cent of respondents planning to purchase vacation properties within the next five years, half said they would likely choose a Canadian location. The majority of those identified British Columbia as their preferred market, with smaller percentages opting for Ontario, Nova Scotia and Saskatchewan.

Those who said they would prefer foreign destinations turned predominantly toward the US (14 per cent), especially to the warmer states of Florida, Arizona and California.

Other hot spots for vacation homes:

• Mexico (5%)
• The Caribbean (4%)
• Central and South America, mainly Costa Rica (4%)
• Europe, mainly the UK, Italy, and Greece (4%)
• Still undecided (19%)

The average amount respondents indicated they would spend on a second home was $200,000, which is significantly less than the national average home price ($350,000). British Columbia, Alberta and Saskatchewan buyers named a slightly higher price of $250,000.

The majority of respondents (75 per cent) looking to buy a vacation home in the next five years were over the age of 45.

Point2 Homes is a leading provider of real estate marketing solutions to brokers and agents around the world.