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A new transfer tax on foreign buyers in Vancouver has real estate agents and analysts predicting a spillover effect into other, less saturated Canadian markets such as Toronto and Montreal. (Jae C. Hong/Associated Press)
While Montreal has so far remained off the radar for foreign buyers, a combination of low prices and lifestyle benefits is gradually making it an attractive option for foreign investors.
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Endearing qualities that attract investors to Montreal include
- The top notch universities including McGill, Concordia and UdeM.
- The quaint European style architecture
- The many heritage sites such as the Old Port of Montreal, which attract visitors from around the world on a yearly basis
- The multicultural community life and cultural richness enjoyed by Montreal residents
and last but not least,
- The comparatively low real estate prices! Average home prices for June 2016, according to the Canadian Real Estate Association were $917,800 in Greater Vancouver, $647,600 in Greater Toronto, while only $310,200 in Montreal.
Curious to know what types of investment opportunities are available in Montreal?