Cheap real estate: Incentives to buy homes, land in Canada

The dream for aspiring homeowners may look like scoring $1 worth of land amid rising housing prices and inflation.

The good news is that this dream has come true in some Canadian provinces and territories, which have offered eye-catching relocation incentives to address population decline, housing crises and affordability.

Here’s a look at Canadian properties and lands over the years that have been offered for low prices or with other incentives too good to pass on. Note that some of these deals may have expired or sold out.

Cochrane, Ont.

A northern Ontario town is offering land for $10 in an eye-catching sales pitch to get development companies to build housing and grow the town.

With up to 1,500 eligible lots, Cochrane said buyers will be responsible for developing the infrastructure on unserviced lots and committing to such development.

Eager buyers spilled in with more than 3,000 calls from individuals and companies interested in the discounted land.

An additional bonus for buyers is property tax relief.

In an interview with CTV News Northern Ontario last week, Cochrane Mayor Peter Politis said the town needs housing for seniors and people who are on low incomes or are homeless.

Politis said the incentive program, which launches in May, will eventually help drive costs down by providing enough housing and boosting competition.

According to Politis, employers are also developing incentive programs to get workers from various industries to fill housing and recast the dream that Gen Zs in southern Ontario can own a home.

As northern communities feel the pressure to build more housing to attract families and skilled workers, the Town of Cochrane is working on an incentive program that it hopes will turn some heads: land for as little as $10. (Cochrane)

Brandon, Man.

A property in southwestern Manitoba is being