Montreal Real Estate

Foreign Home Buyers Are Looking To Montreal According to the greater Montreal Real estate Board there were 5,057 residential sales in May, a 15 per cent increase from last year. The median cost of a single family home increased to 6 per cent from last year to $319,000. “As I understand it, non-resident buyers have been a growing factor in Montreal for some time,” said Doug Porter, chief economist with the Bank of Montreal. “It hasn’t been obvious since the inflows are not as significant as in Vancouver or Toronto, and the underlying market simply isn’t nearly as tight as in those...

No Foreign Tax In Montreal No Plans For A Foreign Tax In Montreal means that Montrealers can relax safe in the knowledge that there are no plans to implement a tax on foreign buyers that wish to buy Montreal real estate. Vancouver implemented their tax about a year ago, Ontario, in April 2017. Many feared that Montreal would follow suit, but the truth is our real estate market never became overheated like Vancouver or Toronto's. According to the article written by CTV News: "The average prices of all homes in the Montreal area was $364,373 in April, roughly a third of what they...

Montreal Market Update 2017 The Montreal Market Update 2017 -  It's hard to believe but the year is halfway over! Some of the stats are in and Montreal's real estate market has been performing extremely well. I thought I would share the QFREB's latest market report called          "The Economist". According to "The Economist", "The resale market in Québec had a much better start to the year than we had anticipated. In the first four months of 2017, the increase in residential sales stood at 3 per cent." Access the Montreal Market report below: [gview file="http://realestatemontreal.net/wp-content/uploads/2017/06/a-word-from-the-economist.pdf"] Centris Sales Stats 2017 vs 2016     http://business.financialpost.com/news/property-post/we-arent-as-crazy-as-vancouver-and-toronto-montreal-property-market-basks-in-goldilocks-status          ...

Ontario Slaps 15% Tax On Foreign Buyers Ontario slaps a 15% tax on foreign buyers not long after Vancouver decided to impose the same tax measures to cool thier housing markets. On thursday the Ontario government announced 16 new measures to cool the housing market. The measures included a 15% tax on foreign buyers as well as rent controls. According to the Toronto Real Estate Board, prices were up 33% across the region from a year ago. The concern is that with prices escalating, young people can't even imagine ever owning their own home. All this being said, with Vancouver and now Ontario...

DESJARDINS MARKET FORCAST FOR QUEBEC Read the report below: On March 23, Desjardins published its forecasts for Québec’s resale housing market. According to their forecasts, the number of existing home sales is expected to grow by 2.3 per cent in 2017 to reach 80,000. Despite the latest mortgage tightening measures, Desjardins considers that the low unemployment rate and the increase in after-tax income will be able to counter the negative effects of these measures. Québec’s unemployment rate is at its lowest level in approximately 40 years and, in 2016, after-tax income saw its biggest increase since the 2008 recession. As for the average price...

West Island A Seller's Market With The Shortest Selling Times! According to the QFREB, (Quebec Federation of Real Estate Board in case you were wondering), six West Island cities had the shortest selling times in 2016. Pincourt, Kirkland and Dorval had the fastest selling times at 73 days and Beaconsfield, Dollard-des-Ormeaux and Pointe Claire not far behind. It's no suprise these areas are in high demand with the proximity of the 20 and 40 highways. According to Paul Cardinal, Director of QFREB Market Analysis Department told The Suburban, "with a strong pharmaceutical and high tech jobs base in the territory. It attracts people because they...

Montreal Real Estate Stats 4th Quarter 2016 After a healthy and strong Montreal real estate market in 2016, this last quarter is looking to be a bit weaker here in the last quarter. Here are some of the preliminary numbers courtesy of the QFREB Market Analysis Department: Housing Starts Decreased in Québec in the Fourth Quarter of 2016 According to preliminary data from the Canada Mortage and Housing Corporation (CMHC), there were 8,783 housing starts in Québec centers with 10,000 or more inhabitants during the fourth quarter of 2016. This represents a drop of 5 per cent compared to the same period in 2015....

Montreal's Best Restaurants of 2016 By Lesley Chesterman for the Montreal Gazette With rising interest rates in both the U.S. & Canada and much uncertainty in the world on the political front, this holiday season is a good time to turn to one of my favorite topics, "food", When it comes to food, Montreal is certainly one of the best cities! I fear it's no longer a well kept secret, in fact the word is out! There are so many delicious tastes and places to discover and savor, spread out throughout our many neighborhoods. What's really special is the local neighborhood fare...

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