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.
This emerges from a recent tally by the Altus Group. The team of Vincent Shirley, a director of the Altus Group, listed the best sellers in the first quarter. Phase II of the YUL project comes first, followed by Amati Condos and Centra Phase II. YUL is located west of the Bell Center. Amati is in Griffintown while Centra is on Mackay, north of René-Lévesque Boulevard.
Also during the first quarter of 2017, there were 1434 new condo sales in the Montreal area, an increase of 30% from the same quarter last year. Of these, nearly half were in the downtown core, a 79% jump in one year.
Condolegal has recently published a news story on condo rentals downtown. A study by CMHC on this issue revealed several interesting findings, one of which confirms that one-quarter of condominium apartments are leased.
Montreal, June 23, 2017
Source: La Presse and Condolegal.com