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Real Estate Investment Opportunities in Montreal: 2019

5 of the most common questions on Montreal real estate investments.

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1. How do Quebec’s investment opportunities compare to the rest of Canada?

Buying real estate in Quebec is still more affordable than other major Canadian cities. However, housing prices in Montreal are now rising at a faster pace than those in both Toronto and Vancouver. In the last quarter of 2018, Montreal residential real estate prices increased 4.1% when compared to the same period in 2017. The average aggregate property price is now $407,230.

2. Which are the best neighbourhoods to invest in?

Our selection is based on five metrics: affordability, changes in average price (the bigger the jump, the hotter the neighbourhood), increases in sales volume, new housing starts, and page-views for advertised deals in the area.

*All statistics below sourced from QFREB Barometer for the second quarter of 2018, calculated year over year.

Hochelaga-Maisonneuve 

  • Median condo price: $240,950
  • Sales: 6% increase
  • Single family home appreciation: 2%
  • Condo appreciation: 10%
  • New starts include: Modern condos by DevMcGill, a high-rise by Rachel Julien
  • Recommended area: Hochelaga, near Angus Shops

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Cote Des Neiges

  • Median condo price: $330,000
  • Sales: 18% increase – #3 top performer in the Greater Montreal Area
  • Single family home appreciation: 21% (#1 top performer in Greater Montreal Area) 
  • Condo appreciation: 9%
  • New starts include: a LEED certified condo project by Knightsbridge, luxury condos by Devmont
  • Recommended area: The Triangle

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Pointe St Charles 

  • Median condo price: $344,000
  • Sales: 10% increase (South West)
  • Single family home appreciation: 10%
  • Condo appreciation: 10%
  • New starts include: industrial style lofts near Charlevoix metro, townhouses on de Sébastopol street
  • Recommended area: Close to Wellington or Charlevoix streets

Browse available listings and set up an alert for new listings in Pointe St Charles

West Island South*

  • Median condo price: $315,000
  • Sales: -2% decrease
  • Single family home appreciation: 20%
  • Condo appreciation: 20%
  • New starts include: Townhouses by Broccolini, affordable canal-side condos by Groupe Tyron
  • Recommended area: Beaconsfield

*Senneville, Beaconsfield, Baie-D’Urfé, Pointe Claire, Dorval, L’Ile-Dorval

Browse available listings and set up an alert for new listings in West Island (indicate location in “additional criteria” section)

Villeray

  • Median condo price: $283,000
  • Sales: 0% increase
  • Single family home appreciation: 13%
  • Condo appreciation: 10%
  • New starts include: Townhouses by Katrel and condos by Struktur
  • Recommended area: Mile-Ex

Browse available listings and set up an alert for new listings in Villeray

3. How do I plan my investment budget?

Make sure you have a solid understanding of all your monthly expenses before you commit to homeownership. Don’t neglect the smaller bills, like hydro, transportation and insurance while doing your calculations. Next, get acquainted with the immediate and long-term costs involved in your real estate purchase. You can consult our Buyer’s Guide for more information regarding total costs. When looking at condo fees, remember to take into account their growth-rates over time. Once you have narrowed down your financial bracket, look into the different loan plans available to you. Find out how you can customize your mortgages program to your particular needs- some buyers are more comfortable with fixed rates but others might benefit from variable or accelerating/hybrid payments. Lastly, keep in mind that any monetary assistance from your family that will contribute to your down payment needs to sit in your personal bank account for at least 90 days before you make an offer.

4. What type of building is the best bet as an investment?

This is where you need to do in-depth research (or work with a knowledgeable broker) to ensure the property you buy will have a profitable return. For rental investments, download our ROI calculator to project costs and returns over the term of your mortgage. Look closely at the plans for the surrounding areas, to check that it will be easy to rent or flip if needed. If you’re buying a brand new condo in a development project, look carefully at the list of amenities offered, as this will ultimately be what draws a future renter or buyer to your unit rather than one in the neighbouring building (make sure the unit has a garage or access to an indoor parking space- in snowy Montreal this is a must!). A comparative market analysis will show you where the property stands in regards to other units in the same area. If you’re buying as an investment, you never want to be the most expensive house on your block!

According to the latest Centris statistics (Q3, 2018), ‘plexes showed the highest appreciation rate across all property types (+9%) in the central Montreal area.

In the Plateau, the average revenue property (two or more doors) appreciated by 14% year over year in the Plateau, and 11% quarterly.

Of notable mention is is Lasalle, where the average ‘plex appreciated by 14% in the third quarter, and 9% year over year.

*These figures are calculated according to Centris Q3 data for 2018*

Average Price Appreciation (Quarterly)
Appreciation (Annual)
Plateau $845,000 11% 14%
Villeray / Park Ex/ St Michel $482,000 3% 11%
South West $539,000 11% 10%
Rosemont $632,500 6% 9%
Montreal Island $561,000 8% 9%
HOMA $489,000 5% 9%
Lasalle $555,000 14% 9%
Ville Marie $558,750 7%
Lachine $405,000 7%
Verdun/Nun’s Island $570,000 7%
CDN \ NDG $715,000 12% 3%

5. What about design and furnishings?

Refrain from relying on your personal tastes- look at the typical demographic in the area you’re investing in and what their preferences and lifestyles are. The safest option is to keep your interior design simple, minimal, and clean. Light shades, white walls, and natural light have the best success on the rental market.

If you’re buying an older home with the intention of flipping it, keep the sales cycle in mind when planning your renovations. The ideal time to purchase is in late fall, so you have the time to renovate before the market opens in Spring.

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2 Comments
  1. shamim says

    Hello thinking about buying a small 2 bedroom condo in Vaudrueil Dorion, but not sure if it is a good investment, would live there for a year then rent it out for about 5 years then I would sell it. is it a good investment idea or not
    please reply
    thanks

    1. Yury Shupilov says

      Hi Shamin, it depends on the price and characteristics of the condo you have in mind. Please email me directly at [email protected] with a call-back time + number where I can reach you to discuss your investment options. Thank you!

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