Deed tax increase wont hurt demand for Nova Scotia recreational properties: Realtor – Halifax [Video]

Demand for cottages and recreational properties in Nova Scotia should remain strong despite the doubling of the province’s deed transfer tax, says an executive with a major real estate agency.

In an interview Friday, Matt Honsberger, president of the Halifax office of Royal LePage Atlantic, said he’s optimistic about the recreational real estate market because most waterfront properties in Atlantic Canada, which can sell for under $500,000, are significantly cheaper than in other parts of the country.

As an example, Honsberger said a cottage in the Muskoka region north of Toronto can cost between $1.5 million to $2 million, prices that are “unattainable for a lot of people.”

“Here in Atlantic Canada you can have a place on a lake for $300,000 to $400,000 that in some cases is less than an hour away from downtown Halifax,” he said. “That’s affordable, so I think that’s attractive to a lot of …