Why Real Estate Investments in Montreal are good for the Long Term
The past few years have seen a sharp increase in townhouses, luxury condos and homes for sale in Montreal, Canada. In 2017, over 15,000 transactions were registered and this was a nine percent increase in what was registered the previous year. This is a subtle indication of the fact that the Montreal real estate market is on a growth trajectory, and even though naysayers are claiming it to be a bubble, there is no harm in taking advantage of the trend to acquire a property and focus on the long term benefits.
Looking at the numbers over the last 20 to 25 years, the Montreal real estate market has consistently registered a strong growth trend. The records indicate that prices of houses for sale in Montreal have seen an increase of an average of 6% in the last eighteen years. In eight of the last fifteen years, the average increase in prices was more than ten percent. The trend follows that the prices on the Island of Montreal are the first to go up and are quickly followed by those in the suburbs.
It is important to observe that Montreal is reputed as the most affordable city in Canada and North America. This fact alone makes it lucrative for all manner of ventures, and as such, it is a magnet which will continue attracting more investors, businessmen, industries and players in almost every sector of the economy.
One of the reasons attributed to the lustrous real estate market in Montreal is the fact that it borrows a lot from the diversified economy of the city. The economy in Montreal is not dictated upon by a single resource or industry. Almost all the sectors in the economy contribute and unless there is a complete breakdown in the entire economy, Montreal will always thrive.
Therefore, if you have the means to get into the such as buying a house, luxury condo, townhouse, duplex or quadruplex, now would be a good time because of the confidence that things can only get better, and you can expect some very good long term property revenue in Montreal.
