Waterfront property has long been something of an industry in P.E.I., and the whole province is smaller than the Greater Toronto Area, so we’re talking about a limited commodity. The first wave of construction was from the 1940s to the 1960s, and some of these rustic places may be available. A place one or two lots back from the water, with easy access to the beach, will be more affordable, while true oceanfront will definitely cost more.
The north shore (the Gulf shore) is more commercialized, especially near Cavendish, a tourist draw as the childhood home of author Lucy Maud Montgomery. The beaches here are protected Parks Canada land. Properties in the vicinity, especially near the Crowbush golf course, come at a premium for P.E.I.
The south shore is somewhat less built up than the north and offers great swimming in the relatively warm Northumberland Strait. For bargains, check out both tips of the island, especially toward O’Leary at the western end. If the price for waterfront seems too good to be true, there’s one word to consider: erosion.