As it is always considered a long term profitable investment, Montreal Real Estate Market has been attractive for investors and realtors for many years. Buying property proves profitable for most of the time, but there is always a need for some research and know-how about market trends to buy a new property that can earn you a desirable profit over time. Because of rising prices in Montreal Real estate market, it has surely become an eye-catching market. As depicted from the recent stats, prices have gained a very high setting value in the Montreal Real Estate market.
Montreal real estate market offers a variety of options to investors which include investment in single-family homes, condominiums, and plexes. All three categories of properties in the Montreal real estate market have different trends. Recent stats of Montreal real estate have shown that 1890 residential transactions were made in the past month. People invest based on the profit that they estimate to earn over a specific period but the real challenge is to estimate which investment is favorable as per their profitability plan.
Since the Montreal real estate market has been affected by the global pandemic in the year 2020, the property values fluctuated unexpectedly. The demand in all three categories of property reduced significantly. Investment strategies that have been adopted earlier have got a shift due to COVID-19. However, after the first wave of corona-virus, prices are now again rising. The main factor to be considered is how the market will grow after the pandemic’s second wave in Canada.
Montreal Real Estate Market for International Investors
Given growing demand and increased investments in real estate, international investors are investing in the Montreal Real Estate market because of the rising trend in prices of the property.
183% rise was observed back in the year 2018 when it came to foreign investment. The earlier focus of investors was mostly in Toronto and Vancouver but only in a few years, the shift has been made to Montreal Real estate market. The main reason for the investment shift to Montreal in the past few years is that investors considered the Montreal market considerably cheaper as compared to other markets of Canada. Also, Montreal is growing fast in terms of Youth talent and the job market is becoming better.
Foreign investment in the year 2019 increased significantly and sales volume increased in the city almost 18% as compared to the past year. Job creation activities increased due to this much foreign investment. New construction projects and innovation centers have been introduced by the Government as well as the foreign investments made over the past 2 to 3 years.
The government is not only planning to make real estate growing, attractive, and profitable for foreign investors but also to make a reasonable portion to be affordable for the people to buy homes for living as well. Concerning the interest of International investors, Montreal is an ideal place to invest because of lower taxes when compared to other cities of Canada.
Landmark buildings will let international investors invest in a prosperous job market.
Since Montreal is the second-largest city of Canada, it’s the right time to invest. With an increase in the number of universities and technological advancement, Montreal is becoming a hub of investment for foreign investors.
Weather you are Montreal resident by born or planning to make Montreal your home it is a smart choice to buy property in Montreal or anywhere in Quebec province. It is recommended as one of the best place in the world for living. Best doctors, hospitals, schools, universities, per-capita income, security and as a place for huge opportunity all these together contributed to the voting for best place for living.