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Top Stories This Week – June 8, 2018

This week: New development in Downtown Montreal, the launch of a water taxi route, an interest hike and more..

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We know how easy it is for news to pass you by in the week, so we’ve put together a round-up of Montreal’s most important real estate stories from the past few days – and where to read more about them:

HEC Montreal Receives Approval For $183 Complex Near St Patrick’s Basilica

HEC Business School recently announced its plans for a $183 million pavilion in Downtown Montreal, which will transform the area around St Patrick’s Basilica.On Thursday the complex received the green light from the city, as well as a starting $94 million of funding. It will house MBA, graduate and executive-training programs, and will be used by an estimated 1,600 people daily upon its completion in August 2021.

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A Map Of The 3 New Water Taxi Routes In Montreal

Last week, Montreal launched a new water taxi route connecting passengers from Pointe-aux-Trembles to Old Montreal in less than 30 minutes. Residents of the Montreal East showed strong support for the new service during the trial run in May – it attracted 700 people that month, and 97% claimed they would use it on a regular basis. One way tickets for the new route cost the same price as an STM ride – $3.25.

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Bank Of Canada: Another Interest Rate Hike On The Horizon

The Bank of Canada’s statement on Wednesday indicated another increase would be made to the overnight lending rate, which currently stands at 1.25%. The central bank wrote that “higher interest rates will be warranted to keep inflation near target.” BMO’s senior economist predicts the next hike will come in July.

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Centris® Residential Sales Statistics: May 2018

The Greater Montréal Real Estate Board (GMREB) just released its latest statistics for Montréal Census Metropolitan Area’s housing market. 5,303 residential transactions were concluded in May 2018, a 1% increase compared to May 2017. Montreal’s sales transactions have been on the rise for 39 consecutive months.

Read the rest.

This article, Top Stories This Week – June 8, 2018, appeared first on Shupilov News.


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