Montréal is fortunate to have escaped most effects of the American real estate crisis. More than ever, a condo in Montréal is a prime investment.
While prices of homes and condominiums are collapsing in most large North American cities, they have remained stable in Montréal. This is excellent news, given that Americans are being faced with losses of value close to 18% on average.
The Montréal condominium market has never run out of steam in any major way: this is one more proof that it is a prime investment sector. While returns on mutual funds and stock market investments have been declining since October 2008, real estate is becoming a safer hedge than ever before.
How can investors protect themselves from the bleak economic outlook and poor returns? By opting for real estate and, above all, by paying special attention to the location or district in which to invest.
Neighbourhoods “on the way up” like Rosemont-La Petite Patrie, the western part of Notre-Dame-de-Grâce or, even better, Old Montréal and locations close to the Bonaventure Expressway – the location of new construction like the M9 project – will enable shrewd investors to shelter their capital from many crashes.
Given the ever increasing standards of consumer demand, real estate companies like DevMcGill are offering top-of-the-line condos in contemporary designs. As well, “green” projects are gradually making progress in the residential sector. Examples are the Square Benny condos and La Tohu’s Pavilion representing the architecture of the city itself.
In short, as we often hear, the construction sector is the backbone of our economy, and real estate does in fact seem key to renewal of economic confidence.
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