Buying Real Estate in PEI
In Prince Edward Island, housing prices are considered relatively affordable as compared to other major centres across Canada. Most people who buy property use the services of a real estate agent.
How can I confirm that an individual or agency is licensed to sell real estate?
In PEI, agents must be licensed in order to sell property as outlined in the Real Estate Trading Act and regulations. You can ensure an agent holds a valid licence in the province by searching PEI Real Estate Agency or Agent.
How much land can I own in PEI?
As an individual, you cannot own more than 1,000 acres of land; as a corporation, you cannot own more than 3,000 acres of land in PEI. If you are a non-resident or a corporation, you must contact the Island Regulatory and Appeals Commission (IRAC) if you are buying land that has more than five acres of land, or has more than 165 feet of shore frontage.