Real estate news, what you need to know

Discover 6 current facts about the real estate market in Montreal, Outremont and surrounding areas.

The residential real estate market in the Greater Montreal area has shown signs of recovery sooner than expected, according to the latest data published by the Association professionnelle des courtiers immobiliers du Québec (APCIQ) for February 2024. With a total of 3,843 residential sales, the market recorded a significant increase of 30% over February 2023, although this level of activity remains slightly below the historical average for this time of year.

Sales were up in all major areas of the metropolitan region, with the Island of Montreal leading the way, followed by the North Shore, South Shore, Vaudreuil-Soulanges, Laval and Saint-Jean-sur-Richelieu. Transactions involving single-family homes, condominiums and small income properties all showed significant year-on-year increases.

March 6, 2024

Corporate offices: downtown or suburbia? The corporate office real estate market is recovering. Prior to 2020, office vacancy rates in downtown Toronto were at very low levels. Downtown offices were seen as essential for attracting young talent who appreciate the convenience of urban living and want to avoid long commutes. But the equation has changed in the age of home working. Suburban offices with ample parking have gained an advantage with social distancing, as getting around by car rather than public transport has become more attractive.

February 27, 2024

Residential real estate: Chiara calls for government aid for developers. In Vincent Chiara’s opinion, there is only one measure that could encourage real estate developers to revive residential construction : financial assistance from the provincial or federal governments, possibly in the form of partial financing of interest rates.

February 26, 2024

ROYAL LePAGE report: How much square footage can a million dollars buy in Canada’s major real estate markets? Nationally, a typical $1 million home averages 1,760 square feet, or about 740 square feet less than a typical $2 million property.

real estate report february 2024
How much square footage can a million dollars buy in Canada’s major real estate markets?

February 20, 2024

Federal government extends ban on purchases by foreign buyers until 2027 – In an attempt to address Canada’s ongoing housing supply and affordability crisis, the federal government announced earlier this month that the Residential Prohibition Act by non-Canadians – commonly known as the foreign buyer ban – will be extended for a further two years.

February 15, 2024

Activity in the Canadian real estate market is expected to pick up this spring, with buyers on the sidelines counting on lower interest rates. Nationally, house prices rose by 4.3% year-on-year, despite the market slowdown in 2023.

January 15, 2024

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