The demand for Prince Edward Island real estate properties has increased by leaps and bounds in the last couple of years. Thanks to the excellent climatic conditions of the Canadian province which is one of the key factors contributing to the high demand of the PEI real estate properties. Apart from the pleasant weather, the reasonable prices of these properties have also prompted the investors to buy properties in this Canadian Region. Many investors are availing the professional assistance of PEI remaxagent and buying Prince Edward Island real estate properties to offer them on rent. Renting the real estate properties are bringing good returns on investment.


Prior to investing in a PEI real estate property, you need to determine the location where you want to buy the property. Keep in mind that though the Mid Island areas of Anne's Land and Charlotte Shore are ideal for residing, their prices are a big higher than the ones in regions like the Kings County or West Prince. In order to get the property of your choice, you can consider approaching a reliable PEI remax agent.

It is the Lands Protection Act that controls the acquisition of property in the Prince Edward Island of Canada. In order to comprehend the requirement for the act, you should check the comparatively small amount of land available in the Canadian province and the demand for that land. If we look back in the past, we will see that the Prince Edward Island was originally fragmented into 67, 20,000 acre lots which were deeded to the truant owners. However, after a couple of decades the local people succeeded in purchasing back the land and reclaim their island.

The Prince Edward Island was again discovered in 1960s by the non-islanders who took control of a good portion of the waterfront lands. In the 1970s, limitations were put on the non-island ownership of real estate property. In 1981, a non-resident company endeavored to get six thousand acres of land after which the present Lands Protection Act was ordained.

It is the Island Regulatory and Appeals Commission (IRAC) that governs the Lands Protection Act. Whether you are already a Prince Edward Island resident or not, there will be no remarkable difference in the purchasing procedure unless you are buying a waterfront property. If you are planning to purchase more than 165ft waterfront property or more than 5 acres of land, you must get approval from the Island Regulatory and Appeals Commission. If the deed contains multiple names, then the limit gets doubled. Both of them can conjointly own about 330 ft waterfront land or 10 acres.

In order to get more details about PEI real estate properties, you can reach out to a PEI remax agent who is dependable and has been a part of the Prince Edward Island real estate market for years. Keep in mind that only an experienced real estate agent would be able to provide you with authentic information on the real estate market and help you get the best deal.

Resource Box: The http://peirealtyguy.ca PEI real estate market is expanding at a rapid rate. If youw ant to buy a property in Prince Edward Island, you can visit our http://peirealtyguy.ca PEI remax website.