Why now is the best time to invest in Montreal?
- Strong housing market
- Montreal housing sales are rising: According to the latest data provided by QPAREB, the growth rate of Quebec’s total housing sales in the second quarter of 2019 hit a record high in 2005 (8%), and the Montreal area accounted for 54% of Quebec’s total sales.
- Average house prices continue to rise: The average price in Montreal in the second quarter of 2019 was $340,000CAD, an increase of 5% year-on-year
- Montreal housing sales hit a record high: According to the latest data provided by QPAREB, Montreal’s September housing sales volume was 3,659, a year-on-year increase of 14%, and the transaction volume was a record high
- Sales of apartments and detached houses are strong: Housing demand continues to grow. The number of houses on the market has decreased for 48 consecutive months. The transaction volume of apartments and houses increased by 15% compared with last year.
- Very low loan interest rate
- The one-year loan interest rate has stabilized at around 6% in recent years
- Compared to 2008, the Canadian housing loan interest rate has a difference of about 65%
- Stable economic index
- The consumer confidence index has soared: Compared with the third quarter of 2018, the consumer confidence index rose 9 points
- Increased labor market demand: Compared to the same period in 2018, 36,000+ jobs were added
- Lower unemployment rate: The unemployment rate dropped from 5.5% to 1%
- The rate of new housing constructions continues to rise steadily: In 2019, about 5,779 new houses where constructed, an increase of 20% over the same period last year (4,816)
- Comprehensive development of economy and infrastructure
- Data shows that the economic growth rate of Quebec cities in the first quarter of 2019 increased by 8% year-on-year in 2018
- Montreal- Direct flights to China: Air China direct flights from Beijing to Montreal three times a week (12H 55 MINs), and Air Canada direct flights from Shanghai to Montreal daily (13H 25mins)
- The Champlain bridge was officially put into use: 125 years of service life, 3 main lanes and 1 dedicated lane for public transportation are open 24h; after the electric rail is put into use, it shares the bridge with motor vehicles
- Greater Montreal Electric Rail (REM) is expected in 2020: The second largest electric rail system in North America, with 26 stations connecting West Island, South Shore, North Shore, the airport and main subway stations in the city center; WiFi coverage throughout
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