To start off 2018 the right way, we would like to give you a summary of the real estate sales during 2017. A year full in transactions. Hope you enjoy reading and don't hesitate to leave us your opinions!
Compared to Toronto and Vancouver, Montreal has known a wonderful 2017. Indeed, Montreal's two biggest competitors have faced a slow down in their transactions rates. Real estate's sales have decreased of 18% in Toronto and of 10% in Vancouver compared to the year before. Is it due to the particular taxes those two cities impose? Or are the prices too high?
We'll let you think about this, it's not the subject we want to discuss today.
Quebec's huge and urban center is enjoying the wellbeing of its economy (and it's decreasing unemployment rate) when reporting a rise of the number of real estate transactions; reaching 82 639 transactions for the year 2017-2018. 2007's record of 80 647 sales has finally been beaten, after 10 years! Montreal is killing it!
According to FCIQ (Fédération des Chambres Immobilières du Québec), this amazing increase should continue in 2018. Residential sales are popular and have a lot of success! We can deduce that this increase is the result of traditional as well as original projects and of consumers' high trust levels. This allows for a diversification of the real estate's sales.
Here is a focus on the fourth trimester of 2017, which shows the unbelievable expansion of Montreal recently.
Results of the fourth trimester:
- Most successful fourth semester since 2009 ("a total of 17 804 transactions concluded, an increase of 8% compared to the same period of 2016 »)
- Productive month of December, increasing of 10% compared to December 2016 (2781 sales)
- Best December since 2009
- Increase in transactions in 4 of the main sectors of Montreal (Laval, Montreal Island, Rice-Sud, Saint-Jean-Sur-Richelieu)
Montreal attracts many investors coming from everywhere around the world thanks to its many qualities: high living standards, employment growth rate, accessible accommodations, public institutions...
The flow of foreign buyers is expanding in Montreal, so why not try out this destination where well-being is so elevated!
FCIQ (Fédération des Chambres Immobilières du Québec)
CIGM (Chambres Immobilière du Grand Montréal)