The city of Montreal provides tremendous opportunities for local and international investors in the residential real estate sphere. Montreal has been offering steady appreciation for real estate investors in the past 20 years. Maybe it did not present the skyrocketed increase in prices that Vancouver and Toronto saw but it has been a safer heaven for investors and allows peace of mind with no sharp declines in prices.
With the introduction of the foreign buyer tax (Property transfer tax) of %15-20 in BC and Ontario, it is inevitable that some of the potential buyers will turn their eyes to Montreal for their next investment that will result in higher appreciation of the real estate prices in the Greater Montreal Area.
According to analysis conducted by Money Sense, by the end of the first two months in 2017, sales of $1-millon+ homes had increased in Montreal by 13% and the trend does not seem to be stopping. But in which neighbourhood should you invest:
Here is our top 5 pick:
Average home price (2016): $383,539
3-year price change: 8.3%
Average home price (2016): $478,949
3-year price change: 9.1%
3. Rosemont & Parc-Ex
Average home price (2016): $490,102
3-year price change: 7.1%
Average home price (2016): $483,431
3-year price change: 15.0%
5. Old Port You can’t put a price tag for the properties in Old Port. It has its own charm and history. The City keeps investing in the infrastructure and parcs in Old Port and it will continue to be a focal point for local and International tourists.
Contact us for more detailed analysis and a second opinion if you are planning to buy an investment property in Montreal and we can discuss our property management and leasing services as well… firstname.lastname@example.org – (514) 476-7281