By David MacDonald
david@peicanada.com

A number of lay people connected with the Great Enlightenment Buddhist Institute Society have been purchasing a number of properties in eastern PEI, including properties on the Union Road and at least two in Heatherdale.
The society operates two Buddhist monasteries, including one at the former Lobster Shanty in Montague and another in Little Sands, which houses up to 150 student monks from overseas who are in PEI to study the Asian religion.
But as the society’s executive secretary Geoff Yang pointed out, the society itself did not purchase any of the properties and its use is not related to any monastery activities.
Mr Yang said a number of farmland properties were recently purchased by a for-profit “agricultural trading company” comprised of laypersons of the Buddhist faith. He said while the company is in the “very, very early stages” the plan is to hopefully work with local farmers to grow organic crops for export to Taiwan and other countries.
“Some lands have already been purchased,” Mr Yang. “We want to see how much we’re capable of doing.”
Mr Yang said the two pieces of property in Heatherdale, which include a residence and a greenhouse, were recently purchased by another layperson and would be used for the new owner’s personal use. When asked, he couldn’t say if the property might be used in the future as accommodations for visiting instructors who come to eastern PEI to teach the monks staying at one of the two monasteries.
Montague realtor Stirling Whiteway recently sold 50 acres of land on Union Rd to one of the Buddhist lay people. He said the recent purchases by the lay people have certainly “spruced up” what was a slow real estate market in the area.
While Mr Whiteway has not been involved with any other real estate deals involving the lay people, he said they’ve been purchasing some vacant land as well as residences. When asked, he said in some cases the properties being bought are those that may not otherwise be bought, especially when it comes to vacant land.
“The one I sold had an old barn and acreage. They are putting in some horses and cattle on them so they can live their lives out. The animals are not for killing - they’re giving these animals a good retired life,” he said. “They’re buying some land they can put to use or just vacant land they can buy at a reasonable price.”
Mr Whiteway said while sales haven’t kept up with the amount of new listings each week, things seem to be picking up and there are more people looking.
Realtor Brad Oliver said the Buddhists have been steadily buying properties in the last 18 months in various locations in southeastern PEI. He said while their interest includes both homes and clear land, the purchases haven’t changed prices for agricultural land in general.
He wasn’t sure how many properties they owned but noted the legal land-ownership limit is 1,000 acres for individuals and 3,000 acres for corporations.
Mr Oliver said while recreational property, including waterfront and cottages, has been slow, residential property prices are strong and he’s pleased with the 2011 year so far.
“We’re not as good as we were in 2006-07 but 2008 to 2010 were a little slow and now it’s picking up.”