Good time to buy Montreal real estate?

[MrPrezident]

So there are no additional provincial taxes on real estate as in Toronto and Vancouver?
I have been traveling to Toronto for years but that 15% tax on non-Canadians is like setting money on fire. I would not want to see a 15% tax put on Canadians who wanted a place in Naples FL or Phoenix AZ.

Also, how far out of downtown will outcall escorts travel to without a complaint? Is Westmount too far away? Or would it be best to stay in the Golden Square Mile? I am thinking of buying a condo or house for a weekend pied-a-terre for personal use. But are short-term rentals still permitted in Montreal? This does have an effect on value even if I would never rent out the place.

I have been doing my homework on Montreal anticipating the rollout of vaccines and thinking that the Toronto market could sustain further damage from the ban on short-term rentals and the 15% tax.

 

[Dreamer69]

From personal experience these last 2 months I have had several offers on residential income properties that I own, which are not for sale, these are local investors who are offering about 15% above what I thought my buildings are actually worth. These investors wanna flip these income properties and pocket about 1/2 million
in profit, yes Quebec has the lowest price on real estate.

 

[2fast2slow]

short term rentals still allowed in montreal i believe

 

[henri007]

I’d wait as well (I’m in the business), we’re projecting a sizeable drop in the market once Trudeau stops printing money and the waves of bankruptcies start hitting. Some great opportunities in commercial real estate are coming as well.

well unless you pay 100% in cash. there is a few factors you need to consider for commercial buildings: no rent means harder for banks to loan money, much higher mortgage rate, and need more cash for downpayment. for big cash, then yes it is a downside and good to buy in, but for little cash and beginner then residential buildings are safer.

 

[henri007]

From personal experience these last 2 months I have had several offers on residential income properties that I own, which are not for sale, these are local investors who are offering about 15% above what I thought my buildings are actually worth. These investors wanna flip these income properties and pocket about 1/2 million
in profit, yes Quebec has the lowest price on real estate.

yes they even knock at your house door, or call you up at your personal phone. i wonder how they know these info.
btw the rate is getting lower now. HSBC just announced lower than 1%. You didn’t have such rate in Canada. The lower the rate is, the higher the price of house. well you can wait for lower price ( which I did since 2000 but only see house price keeps rising higher and higher ) but you should not blame yourself later of why so being chicken not to buy when it is still low. best is to go and try to make a few offers to see how hot the market is now. btw december is usually slow time for housing.
good luck to all.

 

[Howards Johnson]

I think the worse is yet to come, prices will be lower in a couple of years.

 

[MrPrezident]

How far is too far away from downtown for escort outcalls? Is the Cote-des-Nieges / Notre-Dame-de Grace close enough or would there likely be some reluctance to travel that far? I am looking for some kind of radius that would be acceptable. Also, where is the closest Metro subway station from that area? Is Westmount too far out of downtown? Is walking distance to Victoria Village or Westmount Square convenient to Metro? Is Crescent Street downtown too noisy? I would like to have a sort of weekend entertainment place where I could have dinner and drinks downtown and not need to drive home.

I have mostly hobbied in Toronto but it appears that I would need to lock myself into 3 day weekends in Canada for the next 5 years to establish Permanent Residency to avoid the 15% real estate surtax on Americans in Ontario. Since Quebec has no such tax it I could just visit my condo at my convenience and not as a requirement. I have seen a welcome tax in Quebec. What is that?

I appreciate any suggestions and comments.

 

[donbusch]

Don’t see any scenario whereby rich countries stop printing money. Stop the printing presses & all that bad debt is gonna spiral into an unsolvable financial crisis. Inflation won’t affect the rich so long as their asset values inflate even more. The poor will just get screwed more than ever but what else is new?

Not sure about Montreal but recently, I have been able to sell a couple, really crappy properties for ridiculously huge gains on the other side of the border. Rock bottom interest rates mean investors can’t even hide in treasuries & high grade investment bonds so real estate in any good city starts looking real attractive.

Probably gonna see real estate prices going up but rents staying low so another alternative is to rent & instead channel that money towards equities & commodities. Unless u’re really good at real estate investments or are reaping tax benefits, I suspect that equities & commodities will outperform real estate.

Anyway this K-shaped recovery is gonna continue and so long as u have capital or access to cheap funding plus know what u’re doing - there’re loads of money dropping from the sky, courtesy of Powell, Lagarde, Yellen & Co.

 

[MrPrezident]

A fine creative stream of conciousness digression. You may feel a great sense of release.

But can we get back on the topic of Montreal Real Estate? You and some other members may have some very perceptive local insights. Real estate is mostly location, location, location, and I can't travel here and walk around for now. I already have some grasp of macroeconomics and the price of tea in China.

What areas are gentrifying and what areas are declining? What now isolated parts of town may open up from transit build outs? What buildings have too many offerings for sale or rent and which ones are always desirable and rarely turn over? Condos or co-ops?

Which is better in Montreal? Electric heat or gas? You seem to have far more electric heat here than Toronto. Is hydro less expensive here?

Where is your favorite area to walk around? I have only stayed at downtown hotels with trips to Westmount and St-Viateur Bagels, the Jazz Festval, Rue St Denis, Crescent St, Old Town, etc. I know there is far more to learn.

One trend I don't like is the new practice of leaving concrete ceilings unfinished. I don't want to look up and feel like a cave man.

 

[donbusch]

A fine creative stream of conciousness digression. You may feel a great sense of release.

But can we get back on the topic of Montreal Real Estate? You and some other members may have some very perceptive local insights. Real estate is mostly location, location, location, and I can't travel here and walk around for now. I already have some grasp of macroeconomics and the price of tea in China.

What areas are gentrifying and what areas are declining? What now isolated parts of town may open up from transit build outs? What buildings have too many offerings for sale or rent and which ones are always desirable and rarely turn over? Condos or co-ops?

Which is better in Montreal? Electric heat or gas? You seem to have far more electric heat here than Toronto. Is hydro less expensive here?

Where is your favorite area to walk around? I have only stayed at downtown hotels with trips to Westmount and St-Viateur Bagels, the Jazz Festval, Rue St Denis, Crescent St, Old Town, etc. I know there is far more to learn.

One trend I don't like is the new practice of leaving concrete ceilings unfinished. I don't want to look up and feel like a cave man.

No need to get your panties in a wad, my good man. You have already asked your questions in 3 separate posts so I’m sure that someone far better-informed than us, may eventually come along to help u out.

However, do kindly note that the thread topic is “Good time to buy Montreal real estate?” so the rest of us are simply staying on topic and obviously more keen on discussing the macro picture first & foremost.

 

[henri007]

Here is the link "Montreal real-estate prices to rise in 2021: forecast"

https://montrealgazette.com/business/montreal-real-estate-prices-to-rise-in-2021-forecast

"According to data from the Quebec Professional Association of Real Estate Brokers, home sales in Greater Montreal reached record-breaking heights in November, up 32 per cent over last year. The median price of a single-family home increased 23 per cent year-over-year."

 

[Sol Tee Nutz]

^^^^^ Google Briana Doyle, she has many articles pumping up the real-estate market ( guessing she is in sales ).
Another opinion, one in which I trust a little more.

Montreal Home Price Forecast 2020 and 2021 — Mortgage Sandbox

 

[Alex Trebek]

I foresee huge tax increases in the future because the government has spent so much and received less taxes in the last 8 months. Things will get worse before they get better, so it will be a lean few years coming up. The couple that has kids that left the house may not be able to afford the extra space or they may downsize. I expect there will be more houses on the market at lower prices in the future.

 

[montreal1234]

Mtl real estate is one fire multi bids on Plexs prices will not.slow down for.2021 great time to buy i already own a few.places.always.looking for.more if anyone's needs help with buying , advice, refinancing , mortgages don't be shy .... more.money more pussy happy holidays

 

[HookerHounter]

Montreal real estate price is sky rocked and unprecedented for now during the worldwide pandemic, Justin Trudeau gives faux confidence, but the inflation will surely become a reality due to the money printing strategy, real estate will be one of the best to fight the inflation.
I'm in the Montreal real estate market for more than 20 years and have surely seen how the market goes up. Year 2020 the Covid has made all short-term rental impossible, thousands of Airbnb units empty and have to rent long-term at much-reduced rent, see thousands of downtown condos are empty from the students and the owners are crying to lower the rent but still hard to find the tenant. But the market of single-family houses in the suburb is crazily active, a house for sale with a reasonable price will often see multiple offers, and sold with an above-asking price is common. If you want to invest your money, real estate is always the best investment for the long-term, but it does require some works and patients.

 

[jmioffe]

Y'all familiar with this woman: https://www.tiktok.com/@tatlondono?lang=en

She's popped up on my radar lately. I don't take it as a good sign. The plebes can't think for themselves, she's giving them a reason to "monkey see, monkey do"

 

[montreal1234]

Y'all familiar with this woman: https://www.tiktok.com/@tatlondono?lang=en

She's popped up on my radar lately. I don't take it as a good sign. The plebes can't think for themselves, she's giving them a reason to "monkey see, monkey do"

Hahahaha she's funny so dump the it goes to.show anyone can make it @@@@

 

[Sol Tee Nutz]

My sister in-law just sold her house in St.Bruno, asking price $380K sold for $420K... Wow, she never expected that, she would have setteled for $360K she says.

 

[Canada501st]

Hello,

Anyone has any experience regarding the sale of a real estate in Montreal?? I have been waiting for 5 months now for the certificate to discharge me from the tax duty. I have heard that it only takes a few weeks for this process. Without this certification, I cannot get any money from the sale.

 

[Final7]

Never too late