Quebec real estate market has shown stable growth, especially in the Montreal area.
If you are trying to decide whether or not purchase a home in the greater Montreal area, you need to first determine what the purpose of that purchase will be.
If you are planning to move into the house, the Greater Montreal area should provide you with a small but steady increase in the value of your home, and you would also be able to take advantage of living in an area that has a low cost of living.
On the other hand, if you are simply looking for a real estate investment that you can flip in a few months for more money, you might want to stick with a city that is growing more rapidly, such as Salaberry-De-Valleyfield, or one of the rare foreclosure downtown Montreal.
Quebec is tied with Ontario for fifth place, when it comes to the provinces with the most real estate growth over the past 12 months, with an increase of 3.6% and the average house price within the province is $274,000.
Therefore, although Quebec and particularly Montreal might not be experiencing the huge growth that some provinces are currently benefiting from, it is still a stable area that should provide new homeowners with a high quality of life and a gradual real estate appreciation rate.
If you plan to buy or sell a home, contact us!
Source: Baromètre immobilier de la FCIQ