Montreal, QC apartments for rent

Real Estate Market Overview

Montreal has a high inventory, especially in regards to single-family homes. These homes, however, were still in demand and sold just fine. This was also the trend in regards to condominiums, but these units tend to have lower prices. Despite the high inventory, there is a new tower being built with 140 condos in the Downtown area. The city has seen foreign buyers showing interest in what Montreal has to offer because of the stable Canadian Dollar. Affordability is also a key factor in their interest. Housing in Montreal continues to be more affordable for buyers than it isin other major urban centres nearby.

Rental Market

Montreal provides a great opportunity for affordability. The growth rate in price has been extremely low in the city, and has been increasing at around 2% each year. Around half of Montreal’s apartment buildings have less than 100 units. The price of renting is very low in the city compared to other cities such as Vancouver and Toronto, but the buildings in Montreal are commonly older than those in these urban centres. The rental vacancy rate in the city is 3.9% and it is expected to rise. In the future, more focus is expected to be on rental housing for seniors. The housing market in Montreal is actually dominated by renters, mostly in high-rise apartment buildings and duplexes. Single-detached homes aren’t as plentiful as these types of properties.