As the second largest country in the world, Canada can be daunting to both tourists and buyers. Between the historic cities, bustling cosmopolitan centres and our vast expanses of natural attractions, it’s hard to hedge your bets on where to invest in a vacation rental in the Great White North. Consider these Canadian cities for properties that will not only provide your renters an unforgettable vacation experience, but make good on your investment as well.
Canada’s capital isn’t just a government town: the city has almost a million inhabitants and has something to entertain each and every one. Depending on the season, you can head to the Rideau Canal for either boating or ice skating or keep your sightseeing indoors with a trip to the National Gallery of Canada. The museum boasts stunning Victorian architecture and is a repository to lots of amazing Indigenous and post-colonial Canadian art.
The benchmark for a single-family home in Ottawa is $450,000, with the price for a one-bedroom apartment trailing close behind at $400,000. Homes are generally rented in the range of $60 to $150 for a one-night stay.
The capital of BC is rife with excursions for the savvy tourist: regal government buildings, the Butchart Gardens, gorgeous beaches, whale watching and North America’s oldest Chinatown. There are also great investment opportunities in Victoria for those looking to take advantage of a cooling housing market.
The median price for condo in downtown Victoria is $500,000 and single-family homes are listed around the $870,000 mark. Most rental properties in the downtown core will garner between $100 and $250 a night.
Any outdoor enthusiast worth their salt has a trip to Whistler on their bucket list: the mountainside resort town boasts scenic views, great spas and is one of the best winter vacation destinations in the world. Tourists flock to Whistler from the first snow to enjoy skiing and snowboarding on Whistler and Blackcomb Mountains. Season typically begins in November and extends to late April.
Housing prices in Whistler range from $404,000 for a one-bedroom house to $329,000 for a one-bedroom apartment. The going rate for a one night stay in Whistler is $200 to $350 a night.
Kelowna is often referred to as the Napa Valley of Canada and has earned this comparison from its wide selection of award-winning vineyards which brings plenty of tourists in the summer. The city is a sound investment decision as a year-round tourist destination as Kelowna is also famous for Big White Ski Resort, which is a favourite getaway for people interested in winter sports.
The average price of an apartment in Kelowna is $438,000 and for a detached home, it’ll cost you roughly $722,000. Rental prices typically fall somewhere between $80 to $200 for a one-night stay.
Niagara Falls is one of North America’s most popular tourist destinations and is also a great place to invest in real estate. The city boasts over 50 wineries on the coast of Lake Ontario and is also a top attraction for newlyweds, who typically honeymoon here for a week or more.
The average listing price for a detached home in Niagara is approximately $694,000. Your property can fetch you anywhere from $100 to $250 per night.
Montreal is a thriving metropolis and tourists enjoy the city for its rich francophone culture, endless museums and varied nightlife. The city is also home to many internationally renowned festivals in jazz and comedy. Luckily, for anyone trying to buy a vacation rental property in Montreal, the city is a hotbed of tourist activity year round.
The median for a single-family home in Montreal is $335,000, with a condo in downtown Montreal coming in at an average list price of $400,000. You can rent your home from $80 to $170 a night.
Tofino is Canada’s seaside paradise. With a population of only 2,000 people, the idyllic West Coast destination is a nice respite from the hustle and bustle of city life, which many tourists take advantage of come summer. Tofino is known for its surfing community and gorgeous beaches.
Properties here range from $400,000 condos to $3 million family-sized estates. Depending on the season, you can rent out your home from $100 to $400 a night.
Banff, settled neatly in the bed of the Canadian Rockies, is home to some of the country’s most majestic natural attractions, from its glacial lakes to its towering mountainsides. This Albertan getaway also has Canada’s oldest national park. The city is a perfect year-round destination, appealing to summer and winter tourists alike.
The median price of a Banff apartment is $439,000, with detached homes listed at an average of $1.35 million. Rental prices vary anywhere from $200 to $500 a night.