In the last 5 years, the real estate developers of Montreal are into battle in order to develop the best and biggest condominiums projects imaginables. The island of Montreal has an incredible number of real estate promoter. Whether Mondev, Samcon or Musto Construction, always surprise us by defying the standards of the real estate industry.
In 2012, we will probably see the greatest real estate boom in Montreal since the 30 last years. We can then say that the housing crisis is well and truly over! Some of the condo projects that we will speak the most in 2012 are The Gardens of Acadia, administered by Musto Construction, which will consist of more than 1,200 condo units, equally luxurious and spacious that one another. This condo project in Ahuntsic, Montreal, will be the largest ever built in this city. For its part, Mondev opts instead for quantity than quality. Between 2009 and 2012, Mondev will have built in excess of 10 condominiums developments in Montreal. The Mondev condos are all winning numerous awards in prestigious real estate rewards in Canada. In addition, all the condos come with a guarantee of the master builders of Quebec, a very important sign of quality real estate in Canada.
The city of Montreal is not the only place in North America where the real estate industry is influenced by the trend of condos for sale. One can think of cities like Seattle, Washington, Las Vegas and of course, Florida. Florida is probably the city where the trend of condos for sale started. At the time, especially condominiums were coveted by older people commonly called the”snowbird.”However, in 2012, more and more young people opt for a residential condominium, rather than an apartment of 2 or 3 pieces. In addition, residential condominiums are recommended by families without children or little child, a phenomenon much more common these days.
Buying a condo in Montreal is the new trend in this city, and condo sales are at record levels never equaled. For example, sales of condominiums in Montreal were up 41% in 2011 compared to 2010. This can be attributed to several factors;
- The price of standards apartments are rising.
- The benefits of not buying over renting.
- Increased development of condo projects.
- Inflation in the price of condominiums in a few years.
- The ultimate luxury of condominiums compared to the price.
- The principle of joint ownership.
- The benefits of the proximity of essential services.
If have taken into account the monetary side, buying a condo is much more affordable than buying a house. Unit luxury condo with 2 bedrooms sells for $ 180 000 and $ 250 000 on average. As against a party and for the same quality, a house will be sell between 350,000 and 450,000. Everything suggests that the price of condominiums will explode in 2016. Buying a condo is both a logical way to shelter and at a time, a great real estate investment. Do not forget that the repair and maintenance of a condominium is done entirely by the administrator and sponsor of the condo project. So, no investment is required for repair and renovation. In addition, the majority of the time, the condos come with a decorative previously defined by the purchaser.