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203 - 1026 Avenue Mont-Royal Est Plateau Mont-Royal MONTRÉAL QC H2J 1X6

12940 Boulevard Gouin Ouest Pierrefonds-Roxboro MONTRÉAL QC H8Z 1W8

robertcharlesferland@gmail.com   I   514.246.5653

© 2019  Immexperts Évaluateurs Agréés Montréal

REAL ESTATE NEWS & STATISTICS

Highlights of the first quarter of 2019:

June 03, 2019

Sales: When compared to the first quarter of 2018, all of the main areas of the Montreal Metropolitan Area showed an increase in residential sales, except for the Island of Montreal where sales were down two per cent (-2%). The downward sales on the Island could be attributed to the fact that prices have gone up, demand is sky high, and there is very low inventory of available properties for sale; people are just not moving.

The North Shore and Saint-Jean-sur-Richelieu posted sales increases of twelve per cent (+12%), Laval sales went up eleven per cent( +11%), South Shore sales increased by ten per cent (+10%) and Vaudreuil-Soulanges area sales were up seven per cent (+7%). Condominiums were the most popluar type of property with ten per cent more purchases made in 2019. Younger first time buyers can more-easily afford a condo then a single home.

Price: Simply put, demand for Montreal real estate is up and supply is down therefore this pushes the prices upward. The median price of single family homes and plexes increased about five per cent (+5%) for the entire region since the first quarter of 2018. For condominum buyers, the Island of Montreal is the number one choice for immigrants and foreign workers and students; the result was an increase in condo prices of eight per cent (+8%).

Overall Market Conditions: It is no secret that sellers currently have the upper hand in most areas of Greater Montreal. A sellers market is when there are 6 months of inventory or less for sale on the market, which is the case for single homes, condos and plexes right now.

The Island of Montreal (downtown and city center) stood out with the lowest number of months a property remains on the market for sale. This shows us that we have the highest demand and the lowest supply for Montreals’ city center. Both sellers and buyers need to adjust themselves accordingly and stategize when planning a move. You may need to buy first before selling for example. As a first time buyer, you may be priced out of the market and look to buying off-island, or turn to a small plex property to help cover your mortgage.

Renters are having a hard time finding long term housing.

June 05, 2019

MONTREAL —

The short-term rental market has taken over the city of Montreal, and it is a difficult phenomenon to regulate. Despite the new provincial law B67 which took effect on April 15, 2016 as well as subsequent local municipal by-laws, the number of short-terms rentals has skyrocketed, leaving many residents out of a place to live.

Since 2016, countless stories have been reported about tenants being evicted, condo units being used as short-term rentals causing disturbances and even tenants subletting to others without the consent of their landlord.   Recently, 13 Little Burgundy residents were evicted following a change of ownership of a 6plex on Notre-Dame St W. The new owners plan to convert the units and offer them on Airbnb as short-term rentals.

 

CTV MONTREAL 2019

Operating short-term rentals in Montreal is legal provided the host abides by the regulations. If this sounds like something you may be interested in, keep in mind the regulations call for permits, certifications, insurances, declaring your revenues to Revenue Quebec and paying the tourism taxes amongst other things. New powers have been given to Revenue Quebec to have inspectors investigate “illegal rental units” and give out fines between $25 000 to $50 000. Since 2018, “963 warnings were given” according to Genevieve Laurier, from Revenue Quebec.

Global News 2019

Montreal - the hottest real estate market in Canada

May 24, 2019

Montreal is the hottest real estate market in Canada right now, posting record sales and attracting investors from all over the world. Some people already fear that the growing interest in Quebec real estate will inevitably shoot up the prices and potentially the rents as well. Historically, investors stayed away from the province of Quebec due to political and language issues as well as the famous Régie du Logement, which tends to favour the rights of tenants over landlords.

Why the sudden interest in Montreal properties? Montreal has always been a favorite tourist destination, and now fast becoming a city everyone wants to work and live in! Just like our frigid winters, the average property prices in Montreal are extremely low (when compared to the rest of Canada). In the past 2 years, demand for rental units has surged with the arrival of foreign students, temporary workers and new immigrants. Not to mention, the new mortgage rules have forced many first-time buyers to rent instead of buy. The vacancy rate is so low right now in Montreal, that as soon as you list an apartment for rent it goes right away.

Montreal Times

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