CANADA A COSMOPOLITAN DESTINATION IN CONSTANT COMMERCIAL EXPANSION.
Focus on the country
The second largest country in the world, Canada enjoys an exceptional situation. With three oceans bordering its coasts, varied landscapes and a neighbor of well-known economic power, Canada is on paper a very interesting destination.
Canada can as well respond to a logic of pure investment as to a need (installing a student child, moving there, etc.). Each year, it is estimated that 3,000 to 4,000 new French people arrive in Canada and get started by becoming owners.
In Canada, the province of Quebec occupies a significant place in terms of real estate. “In Montreal, stone is three times cheaper than in the large English-speaking Canadian cities of Vancouver and Toronto, where prices have soared, mainly due to a strong presence of Asian investors. The latter have invested abundant liquidity and left their new homes empty ”,
For rental investment enthusiasts, an operation carried out in the cities of Quebec or Montreal brings in on average between 5 to 6% per year. “Nothing superior to what is done in France, however this kind of initiative is part of a strategy of international diversification of a real estate portfolio”, indicates Victor Pagès, CEO of Altitude Realty.
Rental demand is dynamic due to a large population pool, low unemployment rate, and sustained economic activity. “The current context lends itself well to this. In a continuously growing real estate market, properties are likely to increase in value over a long period, ”says Victor Pagès. For a down payment of 135,000 euros, investors have the choice between a single apartment in a tower or a small apartment building more out of the way of two, three or more lots. For those who would be tempted to boost the profitability of their rental with Airbnb-type overnight stays, you should know that the municipality of Montreal has recently banned this activity in the city center.
Preferred neighborhoods for investors in Montreal
Investing in Montreal is a profitable investment.
The easiest apartments to rent are necessarily the apartments with the best geographical location, accessibility by public transport, metro, trains, peace, quiet, profitability.
Among the most famous neighborhoods in Montreal, the podium goes to Westmount on a par with the Plateau, the prices are higher but the quality is real.
Investors are not mistaken, a few steps from downtown Montreal, value for money is preferabl
Rosemont-la petite patrie
It is a borough of Montreal that includes different neighborhoods, Petite-Patrie, Rosemont, Nouveau-Rosemont and Angus.
Very well served by the Rosemont and Beaubien metro stations, this district with its varied architecture, rich in restaurants, bars and shops, seduces with its assets mixed with tranquility and animation.
The old-style apartments have a lot of charm and the proximity of the Maisonneuve or Angus parks is very popular with the locals.
Hospitals, heart institute, Montreal Olympic Village, Jean Talon market, contribute to the reputation of this district
The best value for money goes to the Verdun district, a few minutes from the city center, the Verdun district is located in the south-west of the island, served by the green line metro as well as 8 bus lines, the access is greatly facilitated.
Quiet area bathed in greenery, it is popular with students from the Champlain adult education center, the Verdun La Salle computer college, and the Verdun vocational training center.
Rich in restaurants and bars, Wellington Street is considered the liveliest place in the neighborhood.
In the southwest of the island, the borough of LaSalle flirts with the shores of the St. Lawrence River, inserted between the Verdun and Lachine neighborhoods, the northernmost part is bordered by the Lachine Canal.
The development of the district is closely linked to the economic activity of the Lachine Canal.
Close to the city center, very easy to access by metro, the prices charged in the real estate sector remain moderate, which is what attracts the majority of investors.
In the north-central part of the island of Montreal, the borough of Villeray – Saint-Michel – Parc-Extension is located northeast of Mont Royal, Villeray has developed a lot after the war, it is typically the district of ‘plex’ .. There are very fashionable duplexes, triplexes etc.
Also equipped with metro stations, Jarry Park and its stadium are among the centers of interest for family walks.
With many shops and restaurants, it is a neighborhood where life is good.
In conclusion, variations in real estate prices in Montreal have subsided and the market has been growing steadily over the past 3 years.
The various neglected districts of Montreal have now acquired a very attractive reputation for real estate investments.
New constructions have emerged whose level of quality is well established.
The intricacies of this market.
The language is the same, not the vocabulary
Yes, we speak French (and English) there, but the language already plays a leading role of “false friend”. A loan is called a mortgage. The welcome tax? It is in fact transfer rights. To refer to the real estate itself, we must speak of a condo for an apartment and a single-family for a single-family house. This vocabulary must be understood to avoid any misunderstanding.
A French person is free to own a property
When it comes to real estate investment, the rules in force in Canada are quite flexible. Unlike other countries which hold back foreign investors (or even prevent direct ownership), you can freely buy in maple country. Land, apartment, house. Non-residents are welcome, and may even benefit from local funding.
A Canadian peculiarity: with several banks among the 20 largest organizations in the world, Canada has a solid financial system. So, the national branches receive French investors and can offer credit offers at very attractive rates.
Franco-Canadian taxation in the case of a real estate purchase
By investing in Canada, you can benefit from lower taxes than in France. Indeed, it is often possible for the same amount of investment, to have twice the profitability in Canada (compared to France). Why ?
- In particular thanks to the depreciation system (4% per year).
Thanks to the financial arrangements which leave more freedom. For example, in Quebec, the renegotiation of the rate of a loan is done every 5 years, by aligning with the key rate of the Bank of Canada.
Also thanks to the consideration of personal contribution. Some banks require 25 or even 35% of the total amount. In fact, with 20% down payment, you can get the green light … and not have to pay for borrower insurance. The cost of loan insurance, which is often very high, therefore does not hamper your investment
- The province of Quebec and Montreal.
- Quebec is one of the ten Canadian provinces. Many Quebecers are descendants of French settlers who settled in New France. There is a wind from the hexagon in this province, but Quebec’s identity is unique. Quebec is a nation within Canada, in which it is good to invest. Why ? For the stability which dominates, in all aspects (political, legal, economic). Montreal in particular is a city in which many French people come to spend several months (studies, WHV, change of life). You will easily find tenants there, and this pressure on prices. Getting hold of a property to offer it for rent is the guarantee of good profitability!
- Montreal, an international and multilingual metropolis
- Montreal is recognized as the international capital of Canada, with the largest community of international organizations in the country, and the 3rd largest in North America. Businesses, institutions and universities in the metropolis are thus extremely well positioned to access the largest international networks.