The regions of Estrie and the Laurentians continue to see their median prices rise, with increases of 6% and 7%, respectively. In particular, major vacation-home markets such as Mont-Tremblant and Magog are still experiencing healthy gains in median prices.
This raises an important question: Why, despite the low interest rates secured during the pandemic coming to an end, and amid ongoing political and economic uncertainty, have secondary home values not declined?
Here are a few reasons why the cottage market remains resilient. These factors extend beyond economics alone and help explain the market’s continued strength.
A place for family gatherings
Today it is increasingly uncommon for multiple generations to live under the same roof.
The cottage has therefore become an ideal gathering place for family and friends. Grandparents, parents, and children can come together for weekends or holidays, away from the pace of city life, creating lasting memories.
A vacation close to home
Unlike international travel or trips to distant destinations, which require significant planning and expense, the cottage offers an easy and convenient escape whenever you need it. Its proximity to the city provides access to nature, lakes for swimming, hiking trails, and the simple pleasure of peace and quiet, even for just a weekend. Also, with remote work, it served as a practical retreat without the need to wait for an extended annual vacation.
A family legacy independent of urban housing needs
Homes and condominiums in the city often need to be renovated, upgraded, or sold as family circumstances change, whether due to the arrival of children, retirement, or career-related relocations. The cottage, by contrast, remains largely unaffected by these life transitions. It can be passed down from one generation to the next, preserving its role as a family retreat and gathering place while remaining a tangible, long-term investment. Furthermore, because family cottages are rarely put on the market out of necessity, the limited supply helps support property values over time.