How much do appartments rent for in Montreal these days?

[J. Peterman]

A piece of property has come up for sale and I am looking into purchasing it. The first floor is commercial and the second and third floor is residential appartments.
I am looking at this property as well as others around town. How mcu do 4 and 1/2 and 3 and 1/2 appartments go for these days in Montreal. I know that it all depends on the property and its location, but can any of you give me an idea of the different rents that are charges around town?
I am thinking that as the housing boom in the States go bust, this will effect the Canadian market. This may be a good time to park your money for long term future growth. What is you opinions, gentlemen?

 

[MontrealAsian]

Go to www.mls.ca and do a search for property around the area you're looking for and what kind of property and you will see a bunch of listings and you can have a good idea of the price range around that area as well as other possible property around the area that might be better deal that you didn't know of.

If you make a huge profit from this, i would like to get a comission for my reference to going to www.mls.ca

 

[Fat Happy Buddha]

Respectable 4 1/2s seem to start at $600 in districts like Rosemont and Ahuntsic and go up to $1000+ in the upscale neighbourhoods such as the Plateau. Three-and-a-halfs start at about $500. Prices were 15-20% higher three years ago when I arrived in Montreal. There was an serious apartment shortage that year. Things seem to be improving gradually.

I'm not an expert on property prices, but I am hoping to purchase a condo in the next 2-3 years. A friend in the real-estate business told me there is currently a condo glut in Montreal. What I've read however tells me to wait for a few years when property prices could fall by up to 30%.

 

[J. Peterman]

Wait, prices will go lower.

Fat happy budha,

I think that if you wait about a year and a half you will see the US housing market tank, I suspect that this will cause the Canadian housing market to sag.

 

[HonestAbe]

Foreigners renting in Montreal

Myself along with a group of my friends numbering 6 in all are interested in renting a nice downtown apartment year round and using it like a time share amongst ourselves. What do 2 bedroom 1-2 bath apartments rent for downtown? "Downtown" meaning within a mile of the city center in any direction. Also, anything special foreigners should be aware of when renting in Montreal?

 

[MontrealAsian]

no problem.

a lot of people don't know about mls. that's GOLD to people looking to buy/sell their place. it will save you A LOT of time by using that link instead of going with realtors. i know my parents still use realtors, pretty stupid if you ask me. guy comes with a bunch of printed out papers, you look, then you decide to go to which one.

With mls, you just check what you're looking for, which area, what price range, what specifics, and it'll give you all those leads. You can call the place directly or call the other agent directly and get more info. much more productive than to wait on an old geezer for a realtor.

 

[gallantca]

Article on rentals from this morning

This is in french http://argent.canoe.com/lca/infos/quebec/archives/2006/12/20061215-060426.html

It says says renters are leaving downtown to go to the suburbs, resulting in 3% vacancy, up from 2.1% last year. Average rent is $625, but there is a lot of variance. $1112 is the average downtown and nun's island

 

[MontrealAsian]

The "place that you call directly" happens to be the listing realtor. MLS is run by realtors. The key difference between calling the listing realtor and working with one agent to show you whatever you may find in mls.ca is that the listing realtor represents the seller, your realtor represents you.

When I bought my place in Montreal, I worked with an agent. I did the research on mls.ca, told him the places I was interested in. He sent me pdf files on each listing and I told him what places I wanted to look at. I came up three times, toured 7-8 places each visit in about two hours. (Try that without your own agent.) I then narrowed down and went back to view the finalists a second time.

MLS.ca is gold, but if you're from out of town, it helps to have help on the ground. My agent set up the viewings and had a complete schedule each time I arrived in town. You really don't want to have to call the listing agent from each property to set up a visit.

I guess that works too. But most of the time whenever I look for a property, i just go on there, look for whatever interests me, call the place/realtor up ask him all the questions i wanna ask, and if it intrigues me, i'd set up an appointment. Having a realtor on your side is good too, but some of them are either too stupid/slow, or too popular/busy and things never seem to get done as quickly as i'd like. I hate the whole having to wait on someone else so things can get done. I'm more of a hands on type of a person, so thats why personally, i do prefer to do all the searching my self, all the calling and inquiring myself, and all the appoitments by myself also.

Again, to each their own.

 

[wilko26]

Me im doing my research on mls give listing I want to one agent that I know that pay me notary fees if I buy with him, he take care of setting all visit etc... but I like doing my own research. Also you can find some nice deal (rent and for sale) on site like kijiji but you need to be carefull.

Wilko

 

[Esco!]

Respectable 4 1/2s seem to start at $600 in districts like Rosemont and Ahuntsic and go up to $1000+ in the upscale neighbourhoods such as the Plateau. Three-and-a-halfs start at about $500.

Wow that is cheap!!!! I live in TO and paid $1100 for a 700 sqft one bedroom condo downtown Toronto last year.

Then I got smart and bought a new condo

 

[MontrealAsian]

Wow that is cheap!!!! I live in TO and paid $1100 for a 700 sqft one bedroom condo downtown Toronto last year.

Then I got smart and bought a new condo

Yeah, but the prices quoted for a 4 and 1/2 are for houses a lil away from the d/t area. Kinda like.... 15min drive maybe. A condo in D/T cost me before about $1000 for a 1 bedroom,living room, kitchen, washroom.

But yeah, it is well known that real estate in Toronto is MUCH higher than that of Montreal.

 

[Esco!]

A condo in D/T cost me before about $1000 for a 1 bedroom,living room, kitchen, washroom.

How much square feet???????

 

[franky]

franky sayz
I have a loft in old montreal. 1100 sq feet. rent would be about 1800 a month. Remember location, location, location
franky

 

[Esco!]

franky sayz
I have a loft in old montreal. 1100 sq feet. rent would be about 1800 a month. Remember location, location, location
franky

OK........well thats quite a bit more than Toronto.

Actually for 1100 Sq FT, that would still be cheap at 1800 a month!!

BTW, I just got back from St. Hyacinthe!!!!!!!!!!!!!!!!!!!!!

Goddamnit!!!!!!!!!!!!!!!!!!!!!!!!!!
I can never pronounce that farking name.....Saint H Y A C Y N H I N T H E

Could somebody please pronounce this in English FFS please!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Thank you very much!!!!

 

[MontrealAsian]

How much square feet???????

I think it was about 680 sqf for $1000 near the d/t area. So it was a decent price. Nothing outrageous, but not a shit hole either.

 

[wilko26]

Nothing outrageous, but not a shit hole either.

Wasnt a shit hole before you get your dog!