Canadian real estate investor Idan Vidoser recently discussed the hot housing market in Montreal, Quebec, right now.
MONTREAL, QUEBEC, CANADA / The Canadian real estate market is looking like an ideal place to invest in 2021, and Montreal appears to be a hotspot. It’s no secret that the real estate market in Toronto, Ontario, has been on fire for years, but investors may want to keep their eyes on Montreal instead. Canadian real estate investor Idan Vidoser recently discussed how the housing market in Montreal is the hottest in the country at the moment.
“People are relocating from across the country and around the world to live in Montreal,” Idan Vidoser said. “The area is experiencing a boom we don’t expect to end anytime soon.”
Idan Vidoser explained that, like most housing markets around the country and globe, sales numbers fell in early spring 2020 due to the pandemic. However, they began bouncing back after several months, despite the pandemic’s presence.
“Housing prices in Vancouver and Toronto have remained high for years,” Idan Vidoser said. “But the rise in prices in Montreal is incredibly impressive.”
Idan Vidoser explained that Montreal stands out against all other cities in the country, with housing prices that have increased dramatically since 2019. He added that the most significant increases have been in the downtown housing markets among townhouses and detached houses. Idan Vidoser said that the price of a single-detached home in downtown Montreal had risen more than 42 percent. Townhouse prices have risen 44 percent, and condo prices more than 13 percent.
“Real estate has not been observed as an ‘essential service’ in Quebec, yet the prices keep rising,” Idan Vidoser said. “Investors are certainly looking toward the largest city in Quebec as a place to invest in the coming months and years.”
Idan Vidoser finished by stating that shifts occurring within the Ontario real estate market have been interesting as well. Prices are typically high in the Greater Toronto Area but drastically lower in other areas of the state. However, prices are now rising amongst communities throughout the entire province. Realtors are seeing many citizens fleeing crowded cities for the fresh air of the Ontario countryside and smaller towns. Idan Vidoser believes an increased ability to work from home has also led people to consider moving to more remote areas.
“Real estate trends are changing due to the COVID-19 pandemic, and now is the time for investors to keep their eyes peeled for once-in-a-lifetime opportunities,” Idan Vidoser concluded.