July 5, 2017 - Following a difficult period in Quebec, condo sales rebounded in 2017. They rose 24% in May, compared with the same period last year. This is what emerges from a study prepared by Desjardins.
This study shows that, overall, in the Greater Montréal, total sales (houses and condominiums) grew by 15%, while Gatineau and Québec posted respective increases of 25% and 11%.
June 23, 2017 - Downtown Montreal is a favorite borough for condo construction. The year 2017 shows, once again, that this area abounds with condominium units. In the first quarter (January to March) 700 were sold. It is the 3rd best performance since 2011.
June 2, 2017 - A training course on the Guarantee Plan for New Residential Buildings has just been created. It will be offered this fall by EQUER (Undertaking for the quality of residential buildings). The courses offered are intended for homeowners, syndicates of co-ownerships, condominium managers, and also for co-owners and those who plan to become co-owners.
May 31, 2017 - The Quebec Federation of Real Estate Boards (FCIQ) has revised its forecasts for 2017. Last January, it expected sales to fall by 7%, while it is now anticipating a 2% rise in sales in Québec, compared to 2016. This turnaround is due to three factors: strong job creation, a large increase in net immigration and consumer confidence.
May 17, 2017 - Real estate is a major economic force. Its total value far exceeds the annual revenues of a country. In 2016, the aggregate value of Québec real estate (including residential, commercial, industrial buildings and land) was $ 1.07 trillion.
This amount is equivalent to 2.7 times the gross domestic product (GDP) of the province, in which the entire real estate inventory grew by 91% in value, since 2006.at which time its value was $ 560 billion in 2016 dollars. This considerable gain over 10 years is due in part to the number of appraisal units that rose by 13% on account of new construction.
May 15, 2017 - Co-ownerships comprising 60 units or more will henceforth have at their disposal a parcel locker, secured and installed in the co-ownership entrance hall. Parcels may be kept therein during the absence of a co-owner, who will no longer have to go out to collect a delivery not handed over by the postman when there is nobody home.
February 15, 2017 - Ontario will bring into force on July 1, 2017 some of the revisions contemplated to the Condominium Act, 1998, which will be replaced by the Protecting Condominium Owners Act (PCO).
These major changes are the result of extensive citizen’s consultation by the Ontario government from 2012 to 2014 in its review of the Condominium Act and of other comments and opinions.
January 10, 2017 - The majority of buyers (52%) of new condos (in Toronto) are investors who do not intend to occupy them, reveals a survey conducted by Urbanation Inc. in the greater Toronto area, during the third quarter of 2016. The survey also found that 5% of new apartment buyers are foreigners.