The real estate market in Montréal is a good place to place one’s investments due to various factors. When making a decision to invest in the area it is always good to ensure that you get the best value for your money. Montreal is a city in the province of Quebec and is the largest city there. The city is the leader in aerospace as well as in ICT in the region. Investing in the real estate available in the area would mean that potential investors get to benefit from all the benefits offered by the city. The City is considered as the gateway for Canada due to the many opportunities it offers investors. When considering the real estate in the area it is best to know why a decision to invest in the area would be wise. The financial incentives in the area are high and well targeted. This makes it favorable for developers, buyers and sellers alike. The different reasons making Montreal real estate wise decision include;
- Superior quality of life – This advantage accrue to those who are investing in the real estate and also aiming to live there. The quality of life offered by Montreal is superior since it has available to it various amenities as well as other facilities that make life all the more easier. The area is an ICT hub and has a wide pool of educated people. It is a great place for people looking to settle down who make up new home buyers. Aside from being located just about a ninety minutes’ drive away from the US the area also offers the most direct access to markets in Europe and North America. The transportation in the area is highly developed from the sea, to roads, the air and also by train. Infrastructure is often a good consideration when looking to invest in real estate and Montreal offers potential investors the best infrastructure to make their investment worthwhile.
- Few restrictions – Restrictions placed on real estate investments often bar people from investing in a certain area. When the restrictions are few, investors often swam the area as it is seen as a leeway for the investors. The restrictions placed on investments made in the real estate sector are few. This has also influenced the rate of foreign investment in the sector as is evidenced in areas such as Toronto and Vancouver where Chinese investment in real estate is quite high. This situation is evidenced in Canada and the case extends to Montreal by default. Foreigners investing in the same may not have to become full residents of the country in order to acquire a property. However, if the investor seeks to buy the property and also live in it, they may be required to seek permanent residency. This situation makes it easy for foreigners to invest in the real estate in the area.
- Tailor made incentives and attractive tax treatments – Montreal is among the largest metropolitan areas that are found in North America. This ranking is based on the competitiveness of the business structure of the area. The tax burdens for businesses are often low which is attributed to the generous tax credits that are offered by the governments of Quebec and Canada. An area that has lucrative tax treatments is a good area to invest in the real estate as it means the prices are moderated. Housing prices may depend on the interest rates which are low in such areas.
- Increases in Inventory of properties – the areas of Montreal have continued construction of different properties including condos, homes and also rentals. Over the last few years, the number of properties in the area has increased which has created an environment that favors real estate buyers. The constructions have started to decline manly as a result of decrease in prime land. As such the interest rates that are low plus the conducive environment favoring buyers makes it a good strategy to invest in the real estate in the area. The low interest rates have been a continued trend in the country as it is a strategy by the Bank of Canada implemented as one of its policies.
- Low operating costs – Montreal offers low operating costs for its investors as well as its residents. Investing in real estate is often driven by different causative factors for different investors. When investing in the real estate sector in Montreal with intentions of conducting business in the area you get to enjoy low operating costs. The area has a large pool of workers that are qualified. Aside from that it also has a large pool of industries that are knowledge based. These industries include I CT industries, agri-food and financial services. The great technological infrastructure available in the area makes it easy to operate as you enjoy the advantages of a fully technological operation.
Montreal is a great area for home buyers or for people looking to rent a place since it is conducive for residential habitation. The cultural effervescence of the city is evidenced by the many annual festivals hosted in the area. The literature, film, music and the art in the city are highlighted by the events held in the area and the venues for the entertainments in different forms. The sports scene is also lively featuring various professional sports such as football, soccer, tennis and hockey among others. The outdoor facilities make the real estate and the housing available in Montreal a good choice as it gives it a dynamic life. Investing in Montreal as a foreigner is also made easier as acquiring a property also takes less time ranging from 3 to 6 months. However, as a foreigner, it is often best to fully understand the ropes surrounding Montreal real estate so as to ensure that you get the best investment option. Such an endeavor is also made easier since a foreign investor and a local investor in the Montreal real estate scene will operate under the same set of rules and regulations.