The third largest city in Quebec, Laval, with a population of 401,000, is a lovely area located in the southwest of the region. With the Ile de Montreal to the south, and Montreal city a short commute ride away, Laval is a very desirable place to live. The city is separated from the mainland, but is very well connected with Montreal making it a popular choice for those craving a suburban lifestyle with a quick link to the city. The climate in Laval is characteristic of other areas in Quebec, with hot, humid summers and cold winters.
Laval enjoys a healthy real estate market, as well as a strong economy. Leading industries in Laval include manufacturing, pharmaceuticals, retail, tech, and agriculture, and the city is home to a number of large industrial parks that create a lot of jobs for the city. The economy is growing, and benefits from good highway and transit links to Montreal and the surrounding areas.
The population in Laval is diverse, and the city embraces its different cultures and languages. French is the first spoken language for around 60% of the population, and other popular languages include English, Arabic, and Italian.
Popular areas in Laval include: Chomedey, Fabreville, Laval des Rapides, Pont Viau, Sainte Dorothee, Sainte Rose and Vimont.
Similar to other markets in Quebec, Laval’s real estate market is healthy and growing. The city boasts affordable real estate relative to other areas of Canada, with the benchmark price of a two-story property averaging around $401,000, and bungalows averaging around $298,000. Real estate in Laval is very attractive, especially for people looking to purchase their first home.
Bungalows have experienced the highest increase in price in recent years, while condos and single-detached properties remain stable. Many of Laval’s buyers consist of millennials looking to enter the housing market and young families, as the city has a number of cheap options and different types of housing. There has also been a great amount of development in the city, especially in real estate and educational facilities.
The condo market in Laval is healthy and growing, and is mostly supported by young professionals looking to live in the city but to move from renting to homeownership. Many people are also choosing to work in Montreal, but move somewhere quieter like Laval and still enjoy a pleasant quality of life. Foreign buyers are also beginning to display an interest in Laval, which may be due to the recently added flight route between Montreal and Beijing. The population is growing and diverse, especially in areas such as Chomedey and Sainte-Dorothée.
House prices are slowly increasing in Laval due to its desirability and close proximity to Montreal; however, prices do remain low among all types of housing. Laval is an extremely desirable place especially for first-time buyers and young families. Development projects are planned and in the works to improve facilities for families, and it’s a feasible alternative to living in Montreal.
Especially for young people looking to buy their first home, or young parents, Laval is a very attractive option as it allows residents to enjoy Montreal city life at their fingertips, but return to their spacious home in a quieter area. Laval is somewhat secluded and is a great escape from bustling Montreal, but the city can be accessed in less than 30 minutes so it offers the best of both worlds. The transit system is also seeing rapid expansion which will only make travelling to Montreal much quicker and easier for commuters.