Foreign ownership of real estate rises in Montreal, new data shows

Montreal Home Sales 20171106
A sign listing the price of one and two bedroom condominiums is shown in Montreal, Saturday, November 4, 2017. Greater Montreal homes sold more quickly in October as continued strong demand propelled average prices seven per cent higher, the area’s real estate board said Monday. “The single-family home and plex markets are becoming increasingly favourable to sellers, as selling times for these property categories are falling,” said Mathieu Cousineau, president of the Greater Montreal Real Estate

Montreal has seen a notable increase in the number of foreign buyers this year, suggesting investors from outside Canada may be shifting their focus to Quebec’s largest city after crackdowns in Toronto and Vancouver.

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