Culture, History, and Business
Montreal is the most populous municipality in the province of Quebec, Canada’s second-most populous municipality, and North America’s ninth-largest city with an estimated population of 4,195,523.
Known for its impressive architecture, Montreal is home to one of Canada’s biggest tourist attractions, including the Olympic Stadium, Notre Dame Basilica, Sun Life Building, and many others. Although it’s rich with architecture and history, Montreal has recently become known as a major technological hub where many new tech startups and big tech companies operate.
The thriving economy, the safety of the city, great education, and career opportunities draw in thousands of international students and workers who relocate to the city, turning it into a flourishing multicultural city. In fact, Montreal is the second busiest city in Canada and a hub for some great attractions and universities, a trend that offers an excellent opportunity to tap into some good real estate investment deals.
While other cities were deflating under pressure, Montreal stood strong and was one of only two cities that reported a price growth in 2019. House prices are fairly affordable compared to other major cities like Vancouver or Toronto and most of them sell in the $300,000 to $500,000 range.
The market is not volatile at all and can be predicted easily, but most importantly, it’s a seller’s market for both single-family homes and condominiums, as well as plexes. The favorable position of the real estate market in Montreal can be attributed to political stability, low unemployment rates, consumer confidence, the influx of immigrants, investors, and most importantly, Millennials.
Due to the great influx of people, previously deserted outskirts areas of the city are now flourishing into beautiful residential neighborhoods with single-family homes, condos, hotels, and retail properties investors can profit from.