KITCHENER -- Cottage sales are expected to soar in 2021, much like the housing market has been since the beginning of the COVID-19 pandemic.

A new survey by Royal LePage predicts a double digit increase this year for Canadian cottages. Nationally, the price is expected to rise by 15 percent to $502,730.

In Ontario, the survey forecasts at 17 per cent increase.

Recreational home prices across Canada

Experts call it unprecedented.

“It’s literally a nightmare for people,” said Rick Lobb, a broker for Royal LePage Heartland Reality Huron County.

There is not enough supply for the demand, according to real estate agents.

“Living in overall low population dense areas has become even more attractive. People can’t really travel,” Lobb said.

Cottage prices Ontario

Sales are driven by many working from home, historically low interest rates and the fact that many have saved money during the pandemic because they haven’t be travelling.

“Why live in the busy bustle of the city,” one local resident told CTV Kitchener.

Some local cottages sellers are happy about the boom for recreational homes.

“We bought it for about $175,000 so we could probably sell it for double that,” another Kitchener-Waterloo resident said.

Those looking to buy or even rent are not having such an easy experience.

“So expensive and you’re not really getting anything for the price. It is stressful,” said another person living in Waterloo Region.

In 2020, the Royal LePage survey found prices increased by 16 per cent in Canada.

“Cottages will be a third more expensive over just a 24 month period,” said Phil Soper, the President and CEO of Royal LePage.

The survey asked Canadians ages 25 to 35 where they would like to live if they could afford it. Forty-five per cent chose the city life. Forty-seven per cent chose a small town or country living.

With files from CTVNewsToronto.ca