The top 30 countries where Canadians want to buy a second home

Aug 2 2022, 4:36 pm

Between rising real estate prices, worsening wildfires, and seemingly never-ending winters, Canadians are increasingly eyeing overseas properties in their search for a home.

In fact, over the last 12 months, Canadians have gotten “bolder” about purchasing a second home or vacation property abroad, according to a new report from Point2Homes that highlights the top 30 home-buying destinations for Canadians in the Americas.

To learn where Canadians really want to live, Point2Homes analyzed search volumes for more than 2,000 real estate-related keywords in combination with islands, cities, countries, and territories across the Americas.

Canadians are “determined to get their own slice of paradise,” with Mexico nabbing first place on the list for the seventh year in a row.

Over the last 12 months, there were nearly 40,000 monthly searches for real estate-related keywords associated with Mexico – a 28% annual increase.

“Attracted by the country’s ravishingly beautiful beaches, gorgeous colonial architecture, and not in the least by its hyper-palatable cuisine and low-octane lifestyle, vacationers from all across Canada feel the need for a more permanent foothold in the country,” Point2Homes said.

The most sought-after destinations include seaside Puerto Vallarta, dreamy Tulum and laid-back Playa del Carmen.

The United States took second place on the list, with Maui, New York City, and Las Vegas luring Canadians south of the border. The number of monthly US real estate-related searches currently hovers around 18,000, a 20% year-over-year increase.

Canadians are clearly in search of “pura vida,” with Costa Rica coming in third. Adventure-focused Tamarindo and Jaco were of particular interest, as was relaxation-ready Nosara.

Barbados and the Dominican Republic rounded out the top five, respectively, while Uruguay placed last on the list.

Although they came in lower on the list, the number of searches for vacation homes increased most in El Salvador (27th place) and Grenada (23rd place). Searches for the former jumped 87%, while the latter rose 66% in the last 12 months.

Searches increased more significantly in Guyana (254%) and Dominica (112%), although not by enough to land either a spot in the top 30.

Meanwhile, the US Virgin Islands saw the largest drop in search volume, falling 30% year-over-year. Searches for Turks and Caicos Islands and Ecuador both fell 29%.

So, whether you’re searching for a second home, a place in the sun, or an investment opportunity, check out Canadians’ most popular home buying destinations for 2022.

Zoe DemarcoZoe Demarco

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