PEI is an island off the east coast of Canada and is Canada’s smallest province. The population of PEI is 140,000 in the winter, growing to over a million in the summer months, as tourists and summer residents swell the numbers.
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The province features rolling hills and grasslands reminiscent of England and has a largely English speaking population of British descent, although there is a small French population as well. PEI is probably best known for its famed writer Lucy Maud Montgomery and her character Anne of Green Gables and the ubiquous lobster supper.
PEI offers real estate values unsurpassed in North America. Waterfront property abounds and is priced most reasonably, especially as PEI was named one of the 10 Best Islands in the world. PEI boasts a plethora of waterfront real estate as the coastline is very jagged. It is therefore possible to buy PEI waterfront properties either directly on the ocean, or in more sheltered areas such as the many adjoining bays, inlets and rivers.
Waterfront real estate on PEI currently starts at around $50,000 for a cottage lot, and there are many waterfront developments that offer lots of various sizes that allow you to build the summer home or cottage of your dreams. Alternatively you can buy an existing home on water frontage starting as low as $200,000.
Real estate opportunities on PEI don’t end there however. There are many investment opportunities in rental properties. Many investors buy summer homes, using them for their own summer holidays and then renting them to other visitors and in this way paying most of the mortage. If you are interested in a tourist business you can purchase large heritage homes in Summerside from $300,000 and up. These convert into bed and breakfasts or if you would rather deal in all year rentals they can be converted to apartments. Small starter homes in the city centre start in the $60s and many can produce a positive cash flow. Remember, if you are out of province you can have your property professionally managed by a realtor.
If your interest is in business investment there are many industrial parks including Slemon Park, a former military base with airport and hotel. Slemon Park is home to the Justice Academy, Honeywell, Testori, and Atlantic Turbine. There is room for your business here.
Whatever your real estate goals they can be realized in PEI. PEI is easily accessible from any part of the world with flights from Toronto and Boston directly to Charlottetown Airport by Air Canada, Westjet and Delta. From other points there are flights to Halifax and easy connections. If you are travelling by car, the island is accessible by the Confederation Bridge, a 13 km span finished in 1997 or by ferry from Caribou, Nova Scotia to Woods Island PEI.
However you arrive, just come visit our island.