Situated in the southwestern region of Quebec, Laval is the third largest city in the province and is separated from the mainland with the Ile de Montreal located to the south and Montreal city just a short distance away. Laval has a population of roughly 401,000, and covers an area of 267 sq. km. Laval experiences very distinctive seasons, with cold, often snowy winters usually from November to March, and hot, humid summers.
Laval’s economy is strong, with its leading industries being technology, pharmaceuticals, agriculture, manufacturing and retail. Laval has a number of industrial parks which support its economic growth by creating jobs, and contribute to its growing real estate industry. It enjoys affordable real estate with fairly stable prices, so it’s an attractive place to buy and invest. The city is very well connected to Montreal via highways and transit systems, making Laval a great place to live with such easy links to the area’s main hub.
Laval has a diverse population in terms of ethnicities and languages. Roughly 60% of the population state that French is their mother tongue, followed by English, Arabic, Italian, and Greek.
Popular areas in Laval include: Sainte Dorothee, Chomedey, Fabreville, Laval des Rapides, Pont Viau, Sainte Rose and Vimont.
Laval’s real estate market has experienced stability and growth, and is a favourable market for buyers looking for an affordable property within striking distance of Montreal. The median price of a two-story property is around $401,000, while the median bungalow price is around $298,000.
House price increases have remained fairly stable among condos and single-detached properties, with bungalows registering the highest price increase. Bungalow sales have been driven largely by first-time buyers and young families, especially those taking advantage of Laval’s suburban lifestyleand its close proximity to Montreal. Laval has experienced a lot of new development in terms of real estate and educational institutes that’s catered to families, which explains the influx of young families to the area.
Condominium properties have seen an increase in activity and popularity largely due to young professionals who have been relocating to the city. Laval is set to continue to invest in commercial and real estate developments with an aim to attract new businesses and young people to the city. Buyers currently have a good selection of properties to choose from, and can enjoy a fairly quick and easy commute to Montreal. Laval is also increasing in popularity among foreign investors, especially those from China, which may be attributed to a new air route between Beijing and Montreal.
Areas such as Laval, along with neighbourhoods like Chomedey and Sainte-Dorothée, are becoming more diverse and multi-cultural and are witnessing a healthy growth in population. Laval presents a very attractive alternative to living in Montreal, and residents can enjoy a great quality of life with easy access to the city.
Laval enjoys a thriving luxury real estate market and is a very appealing area to invest in. Laval’s high-end market may be fairly understated, but the real estate options are impressive, consisting of everything from castles, to manors, to deluxe new builds. Celine Dion sold her French Normand-style property, which boasted 6 bedrooms and 9 bathroomsand was located on a private island close to Laval, for $25.5 million. The market has something for all luxury buyers, at all ends of the price spectrum, and due to Laval’s affordability, high-end properties offer great value for money.
Laval is increasing in popularity and is becoming more desirable due to planned transit links to Montreal, an abundance of green spaces and parks, and beautiful suburban neighbourhoods. Laval-sur-le-Lac is one of Laval’s luxury areas, which is bordered by the Lake of Two Mountains and la Riviere des Prairies. The area is luxurious, peaceful, and features a range of upmarket homes and some of the most expensive real estate in Laval. The area is mostly residential and has a beautiful golf club, private yacht club, public parks and schools, and other local amenities.