Condo-Hotel Le Crystal is now open

$80 million and three years later, the new and stylish Condo Hotel Le Crystal opens its doors for business. You know you’ve been waiting to hear about it.

The building itself is quite impressive to look at, and we’re not so worried about it’s popularity; considering they are also the owners of the trendy Le Saint-Sulpice in Old Montreal, (supposedly, one with the highest occupancy rates in the City) this new Hotel will be for sure a popular spot.

But forget about the 131 suites, what really got our attention was the 53 condos built in addition to the rooms.

According to the Gazette’s article, most of them have been already sold (of course).

“The Spa and some of the top floors are still under construction” - The condos, perhaps?

“…and are expected to be complete in the summer.”

If you want to pass by and pay a visit (even if from the outside), Le Crystal is located at:
1100 rue de la Montagne, corner of Blvd. René Lévesque. You can’t miss it, is the tallest building in that corner.

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Condo Market Forecast: Montreal and Quebec City.

Condo markets in Montreal and Quebec City will post moderate price growth through 2012, offering solid opportunities for first-time homebuyers and feed the need for accessible, affordable housing in Quebec, according to new data released today by Genworth Financial Canada, a subsidiary of Genworth Financial, Inc. (NYSE:GNW).

Genworth’s Winter 2008 Metropolitan Condominium Outlook reports that Montreal’s average resale condo price will rise from $175,555 in 2008 to
$203,591 by 2012, while in Quebec City resale condo prices are expected to climb from an average $134,872 in 2008 to $154,304 by 2012. Prices will increase, on average, 3.5 per cent a year in Quebec City and 3 per cent a year in Montreal between 2008 and 2012.

“Condos remain an affordable and attractive option for first-time homebuyers. With the average price for a detached home in Quebec expected to exceed $269,000 this year, the condo market remains an important entry point for first-time homebuyers,” said Peter Vukanovich, president of Genworth Financial Canada.

Read more >>

Canadian Credit Crunch Headlines

• Credit crunch? What credit crunch? – [Financial Post]
  “There is no sign of a credit crunch in Canada — yet.Household credit is rising at an annual rate of well over 10% with both mortgage and consumer credit growing strongly while short-term business credit is expanding at close to 20-year highs, figures from the Bank of Canada and chartered banks show.”
  Read the complete article

• Canadian households dodge U.S.-style credit woes – [Report on Business]
  “Canadians have dodged the severe credit woes gripping the U.S., where the collapse of the mortgage market has triggered rising delinquency and foreclosure rates and left households saddled with debt, says a report from CIBC World Markets.”
  Read the complete article

• Canada consumers unscathed by credit crunch-report - [Reuters]
  “Canadian households have felt little fallout from the global credit troubles, with mortgage and consumer credit expanding and no big increases in arrears or delinquencies, according to a report released on Wednesday.
  The report, prepared by the Canadian Imperial Bank of Commerce, supports the Bank of Canada’s view that the country has been less affected than Europe and the United States by the financial market breakdown that originally stemmed from the U.S. subprime mortgage market.”
  Read the complete article

Today’s photo: Frosted Staircases

by Martin Ujlaki

Real Estate Glossary: H

Hectare
An area equal to 100 meters by 100 meters

High-Ratio Mortgage
A mortgage loan higher than 80% of the lending value of the property. Such types of mortgages may need to be insured.

Holdback
The amount of money withheld by the lender during construction of a property to ensure that construction at every state is satisfactory. Read more >>

Home Renovation Courses from Heritage Montreal

Did you know that Heritage Montreal offers Home renovation courses?

If you are a home owner- the handy type, or if you always wanted to get basic information on home maintenance, these courses are right up your alley.
You can learn about home maintenance, renovation and restoration from professionals in the field.

• How to plan your own renovation projects, find the proper resources.
• Home Inspection: How to look at a house and understand its problems.
• Understand foundation problems, their causes and solutions.
• Discover how heating, ventilation, plumbing and electrical systems work.
• How to look after the maintenance and renovation of exterior walls and roofs.
• Insulation, main dynamics and the solutions to common problems.

And we are not talking about contractors involved; the courses are actually taught by architects and engineers.

Interested? Keep on reading >>

Sunday afternoon link love: Canadian blogs

In the last 48 hours I came across some really interesting blogs, all 100% Canadian, filled with great tips and original content.
Before going on and on about how long I stayed reading and enjoying their articles, I will leave you with this list, so you can check them out for yourself.

Also, you can find their permanent link , under Canadian RE Alliance, Montreal Blogs and Investment Blogs.

Enjoy!

• The Oakville Buzz
• Vaughan Real Estate Blog
• Spacing Montreal
• Quest for Four Pillars
• The Wealthy Canadian
• Canadian Capitalist
• Bob Truman’s Blog
• Montreal Real Estate Etc.

Update (Tuesday, April 1st)

…And the list keeps on growing :)

• Greater Fool
• Vancouver Reflections
• Collège Inmobilier Blog (Montreal Real Estate College Blog, in French)

Do you know of other interesting and informative Canadian Blogs?
Writing about Canadian Real Estate, Investment, Housing or Mortgages?
Let us know!

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