Montreal is a place in Canada that is gaining a lot of attraction among people over the past few years. In 2015, around 15,000 residential transactions were registered on Montreal Island.
Every year the number of people investing in property in this place increases by 9 percent. This makes real estate market in Montreal a lucrative investment. In this post, we will look at all those reasons that make investment in Montreal a beneficial decision.
Growth of the Montreal market
Since the last season, the real estate market in Montreal has seen a noticeable rise. The best thing that impresses prospective buyers is that the overall buying price of the place hasn’t increased much, but the sales have increased a lot.
The number of sales recorded for the last twenty to twenty-five years is seen impressive. Since the 1990s, the real estate market in Montreal has experienced consistent and strong growth.
The cost of property in Montreal has risen by 6 percent on average every year since 2000. The price on Montreal Island tends to increase first than in the suburbs.
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Comparing it with urban markets in Canada
Montreal is the most affordable city in Canada. It is also considered to be highly affordable in entire North America. The diverse economy of the city is one of the reasons behind its real estate benefits.
As Montreal’s economy does not depend on a specific industry or a gas resource, it is less impacted by the fluctuations of individual sectors. This is the major reason underlying the continual property price in Montreal during the past 35 years.
About Montreal property market
This growth in the real estate field of Montreal reflects a dependable and solid market. It is one of the important factors in any property investment over the short term as well as the long terms. In this way, the house meets the needs of the buyer. The real estate in Montreal is currently immense and diverse for people.
Montreal has emerged as one of the flourishing and promising real estate sectors in the world. All these reasons make investing in this real estate market one of the profitable decisions that one should make.