New condos still a big draw for buyers in Montréal!
According to the data collected by Altus Group, specialists in real estate and land development, the condo market has seen positive results in the Montréal region and surrounding area. In one year, sales grew 12% for all new projects in downtown Montréal, demonstrating that the new condo market is in excellent shape in 2018!
A brief overview of the new condo market
Vincent Shirley, consulting director at Altus Group, is unequivocal on this point: “There was exceptional demand for new condos in the first quarter of 2018. Sparked by the great performance of the downtown area and the rest of the island, 1,906 units were sold in the Greater Montréal area this quarter, which represents the second-highest volume in history after the last quarter of 2017.”
- Phase 2 of Devimco Immobilier’s ESTWEST project, the WEST tower, has been one of the top sellers since the start of 2018.
- Altus Group’s study revealed a 20% year-over-year increase in the number of new units on the market.
- Following last quarter’s record sales, downtown Montréal build on its momentum with 971 sales in the first quarter of 2018, up from 700 in the same quarter of 2017.
- We saw a significant 12% increase in new condo sales in downtown Montréal!
In summary, these results show that new condos are maintaining their massive popularity in Montréal, resulting in a large and varied offering on the market. Large-scale projects like ESTWEST are testament to this growing interest! Discover the WEST tower and register now.