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Trump isnít the only factor making Atlantic real estate attractive to Americans

“A Trump “bump” may be giving Nova Scotia real estate a bit of an edge. But tirekickers alone don’t make a land rush and experts say the newly-inaugurated “Cheeto in Chief” isn’t the only factor at play in a national marketplace the federal government is trying to cool.

Almost 28 per cent of agent survey respondents with Royal LePage indicated that Americans have expressed interest in a property in the Atlantic region since October 2016, with over half those enquiries taking place in Halifax. Atlantic Canada has seen the highest percentage of sales enquiries from Americans since October 2016.

With 160,000 properties, their site is a good indicator of what’s happening in the industry overall, said Phil Soper, CEO of Royal LePage.

Immediately after the controversial billionaire won the U.S. presidential election, American queries about Canadian properties on the site took a 329 per cent spike. By comparison, after Barack Obama won in 2008, American enquiries about Canadian real estate rose just 10 per cent, Soper said.

“Atlantic Canada skewed much higher than other parts of the country,” he said.

For example, Prince Edward Island has six times the enquiries its population would dictate. And Nova Scotia, with about 2.5 per cent of the Canadian population, had 7.5 percent of the enquiries — three times the national average — per capita.

“My guess is the desirability of living on the coast and the affordability of Atlantic Canada has attracted the eye of a significant number of potential new Canadians from America,” Soper said.

While Americans are consistently the largest group of foreign buyers of Canadian recreational property, this time, 75 per cent are enquiring about suburban residential property, Soper said.

“This case is highly unusual. We’ve never seen anything like that,” he said.

“I think the key is that Canada continually rises on international rankings of places to work, raise a family and live,” Soper said, citing the UN ranking Canada the sixth happiest country in the world, and the Wharton School of Economics and US News & World Report ranking Canada second for economic opportunity.”

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