Why Montreal Real Estate is safer than the suburbs
Quebec and why not live what Americans have experienced?
By Patrice Groleau
The profile of buyers has changed in Montreal court in recent years. The American wave with their strong dollar and then the Europeans with their Euro is definitely over.
Yes there are still Americans and Europeans who buy but their number is much lower.
Although Montreal is still the city’s most affordable major cities of the G8 and the international interest in Canada continues to grow our strong dollar for many plays.
There are now more foreign buyers wishing to be residents rather than investors / speculators.
Rather Quebecers who arrive today in the United States to invest their strong Canadian dollar in U.S. property prices which are at the floor.
There was no housing bubble in Quebec I think for two main reasons, although investors were on a bubble can only exist if local residents are also investing heavily.
But these are baby boomers who come from large families and peasant workers rather poor always have a cautious relationship with money. They are not speculators to the database.
Although their children are somewhat more inclined to take risks, having been confronted with this caution, they remain speculators calculated risks.
With the collapse of stock they were to prefer to invest more in stone but it is new to us.
We were one of the last economy to be affected by the crisis and one of the first economy to not get out.
People have been waiting to see whether the crisis would be severe for us, once the danger passed they bought heavily.
The Canadian banking system is currently one of the strongest in the world. With rising rates announced people have rushed their property purchases, we had a better start to the year of our history.
In Montreal, prices increase, properties sell quickly not because of speculation but by a scarcity of supply, a shortage of land and rising construction costs.
The growth of urbanization in the city of Montreal is explainable by the fact that Montreal is an island, its geographical expansion is limited, as Manhattan.
The land is increasingly scarce, property prices will rise more quickly in cities than in suburbs.
In suburban fashion and interest in the “old” industries and cities change regularly to begin new projects in new homes built in nearby fields, and no scarcity of land!
Renovated a house in Montreal vs. the suburbs is the same price but the value of property is exponentially higher in Montreal, so best return on investment in renovation.
Young professionals are beginning to see that there are other models that the bungalow in the suburbs where they grew up and baby boomers whose children have left home are back in town.
They look for a good quality of life, services within walking distance, a reduced circulation and more. Montreal meets the needs of daily life while limiting costs.
Over the next few years, people will forsake the suburbs to return to live in Montreal the government can support the schools, hospitals, road infrastructure outside major centers.
Quebec’s population is too small for the size of the territory. Montreal is a city of knowledge, the most European of the Americas, people like Montreal, is the real estate benefits.
Montreal is the economic center of Quebec. In the U.S. the major economic centers (New York, Boston, etc..) Vs. not bailed. their suburbs for the same reasons!