Montreal Shifts Towards a Seller’s Market

Reading Time: 1 minute, 56 seconds According to the GMRE data released on Friday, residential real estate sales in Montreal have risen in the month of July across all property types, for the third consecutive month. Home sales in the larger Montreal area increased by 16% last month, compared to July 2016. The largest increase was seen on the Island…

Market News: Qualifying Rate and Mortgage Rate to Increase in 2018

For the past few weeks, invested parties have speculated on a potential Bank of Canada qualifying rate increase, from 4.64%, where it stands today, to 4.74%. Market News: Qualifying Rate and Mortgage Rate to Increase in 2018  For the time being, the British Columbia Real Estate Association is predicting that no change will occur until the first quarter of 2018. BCREA’s chief economist…

Real Estate Market Update: May 2017

Having moved into the second quarter of 2017, there’s much speculation about where the real estate market is headed. The key changes in the past 3 months have been: 1. 2017 Federal Budget favours the housing market On March 22 Bill Morneau, Canada’s Finance Minister, tabled his budget for the upcoming year. Among the proposed measures, the rumours of an increased capital…

Projet Montreal Wants to Tax Foreign Real Estate Investors

Estimated reading time: 0 minutes, 54 seconds. Concerned about about a spike in foreign real estate investors, the opposition at city hall has proposed a tax on foreign investors purchasing real estate in Montreal. Unlike Toronto and Vancouver, where the tax was implemented after reaching crisis-levels when it comes to housing affordability, Projet Montreal wants to give the city the power to…

Ontario Implements 15% Foreign Investor Tax Among Other Measures

Estimated reading time: 3 minutes, 32 seconds Six significant changes were recently implemented in Ontario in an attempt to cool Toronto’s overheated real estate market. A non-resident speculation tax of 15% will be imposed on all buyers who are not permanent residents, in Ontario, Canadian citizens, or Canadian corporations. The non-resident tax will not effect immigrants who have obtained permanent resident status, nor foreign nationals working…

Montreal Real Estate Market Outlook – March 2017

Estimated reading time: 2 minutes, 13 seconds. The first quarter of activity in Montreal’s real estate market has shown signs of shifting in the direction of a seller’s market – with a decreasing number of active listings and a shorter time to sell, but an increased number of total sales. For buyers, finding a good investment opportunity and securing an accepted offer may…

January Outlook: Real Estate Market Trends and Statistics

Estimated reading time: 2 minutes, 24 seconds. Teranet and the National Bank of Canada have collaborated to pull together house price data in Canada’s 6 metropolitan cities (Montreal, Vancouver, Toronto, Edmonton, Ottawa and Calgary). Here is a summary of their findings from December 2016 until January 2017. The National Picture Toronto, Victoria, Hamilton and Vancouver experienced the largest year-over-year house price changes….

Real Estate Market Predictions for 2017

Estimated reading time: 2 minutes, 5 seconds. 2016 has been a year of changes- with new mortgage regulations, amendments to real estate taxation laws, and uncertainty over the effects of the American election on the Canadian market. But Canada’s Real Estate Association (CREA), which represents about 115,000 realtors across the country, predicts a major levelling off in 2017. Here’s what economists, analysts…

New Changes to Capital Gains Tax Rules

Reading Time: 4 minutes, 26 seconds A series of new tax rules implemented across Canada in the last quarter of 2016 will have implications on homeowners and their approach to capital gains strategies. Families with more than one property should take the time to read and understand the new requirements, as a means of minimize the amount of tax owed…

CMHC Warns About Higher Downpayment Rules

Estimated reading time: 1 minute, 34 seconds As the danger of Canadians’ debt grows, the CMHC has announced that higher down payments could be required for the average homebuyer, in the near future. Although a change is not yet on the table, the idea of raising the downpayment with loans backed by federal mortgage insurance is being discussed by the heads…

How the American Election Impacts Canadian Real Estate

Estimated reading time: 2 minutes, 36 seconds. This morning’s news about Trump presidency  has certainly taken the world by surprise. While some are still shaking their heads in disbelief, others have started making predictions about the effects of the new leader’s policies and pre-election claims. Here’s what Canadian analysts think, so far: Impact on interest (and mortgage) rates The Republican win could derail America’s slowly…

Market News: TD Raises Mortgage Prime Rate

Estimated reading time: 0 minutes, 53 seconds. Toronto Dominion Bank has become the first national bank to raise its mortgage prime rates following the new mortgage rules announced last month. TD’s variable rate will hike up 0.15 points from 2.7 to 2.85 per cent, after having remained steady for 15 months. Fixed-rate customers should see no change, and the rates associated to other products such as lines of…

Real Estate Forecast: What to Expect in 2017

Reading Time: 2 minutes, 42 seconds In a report published this week, PricewaterhouseCoopers (PwC) released some predictions for Canada’s housing market, based on the results of an extensive industry survey. The study finds that, “investors, developers and property owners are cautiously optimistic about the Canadian real estate market’s outlook for the year ahead.” The hot markets; Toronto and Vancouver, continue to experience high demand…

New Mortgage Rules in Canada: What You Need to Know

Reading Time: 2 minutes, 7 seconds. As of Monday, homebuyers in Canada face tighter down payment requirements for properties over $500,000 and under $1 million. The changes are part of the new federal rules intended to temper some of Canada’s heated real estate markets. No more 5% down payments Under the changes, homebuyers must now put at least 10 per cent down…

Canadian Budget 2016 and its Effects on Real Estate

Reading Time: 5 minutes, 54 seconds 2016 has been a year of changes in the Canadian real estate market, with foreign tax implementations to cool down heated markets, talks of ending welcome taxes, and mortgage pre-requisites due to crack down by the end of November. Budget 2016, which was announced with the election of the new liberal government, ushered in new regulations that will affect the provincial…

Virtual Reality: A New Dimension to Real Estate

Reading time: 2 minutes, 13 seconds VR tech and immersive media has progressed in leaps and bounds since its first appearance in the gaming world of Nintendo Virtual Boy and Sega VR. Today, virtual reality has moved far beyond entertainment, and is being embraced by a host of other industries such as medical therapy, architectural design, archeology, education, military, aviation…

In the News: Demographic Trends in Montreal Favour Condominiums

Reading Time: 5 minutes, 38 seconds The Federation of Real Estate Boards of Quebec (FCIQ) recently published a market analysis entitled L’impact des tendances démographiques sur le marché de la revente au Québec (in French) on the likely impact of demographic trends on the Québec resale market over the next two decades. .The report is primarily based on the demographic projections of the “Institut…

Q4 2015 Montreal Residential Real Estate Market Recap

Reading Time: 2 minutes, 15 seconds The FCIQ recently launched its report detailing the end of year statistics for Montreal’s residential real estate market. 2015 ended on a high note, seeing a 9% increase in sales in the fourth quarter, compared to the fourth quarter of 2014. In total, 37,935 sales were concluded in 2015, a 6% jump from 2014. This was the largest…

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