Real estate in Montreal would be more attractive for foreign investors
According to recent statistics in regards to the sales of residential properties in Montreal, we see that foreign investors show great interest in real estate in Montreal. With the exception of Vancouver, we are starting to feel a decline in the interest of real estate in Western Canada. The oil price drop makes Calgary and Edmonton less attractive for domestic and foreign, which until recently were considered to have very promising markets, . Real estate transactions in these provinces are lower than in previous years. Multicultural populations in Vancouver Montreal as well as in Toronto, continue to attract many investors to the cosmopolitan cities. Although agricultural properties in Saskatoon still captivate investors, the oil crisis will have a big impact on this province.
Let us look at the figures in Quebec
With a total of 2,665 transactions in September 2015, we see an increase of 5% over the previous year. One of the most active months in the past four years.
Variations by sector
• Laval stands out by showing a growth of 10%.
• The island of Montreal also shows a significant increase, with a growth of 8%.
• The South Shore, North Shore and Vaudreuil-Soulanges all show an increase respectively of 3%, 1% and 1%.
Variations by property category
• All types of properties showed an increase in September.
• The 2-5 dwellings were up 23% in Montreal in September, previously 20% in August.
• Single family homes showed an increase of 4% compared to last year, with an increase of 1% in regards to the sale of condominiums
• The average price of condominiums is $ 248,000, an increase of 6% compared to last year. Montreal and the South Shore show an increase of 8%.
• The average price of single family homes is $ 292.500, an increase of 3%. Montreal demonstrates an increase of 9%.
• The average price of multi-unit (2-5) is $ 420,000, a decrease of 2% compared to last year.
September demonstrates a good start in Montreal and surroundings. Without finishing the year, we are left with a number of transactions of 9% higher than last year due to the impact of single-family homes with an increase of 17%. This growth is felt by all major sectors. The same number of residential property listings, namely of 32,471, were reported as of September 30th.
Report from PWC Canada and the Urban Land Institute. The report is based on interviews and a survey conducted with more than 1400 experts within the real estate industry, including developers, brokers, property managers and investors.
Residential Centris® Sales Statistics - September 2015