The Montreal Real Estate Blog

Photo: Nisroch

View from Rue de la Gauchetière facing Peel. The older building is Windsor Station. - Bernie.

The Montreal Real Estate Blog showcases outstanding images from talented local photographers. Images are licensed with Creative Commons 3.0 . If you’d like to submit your photography, please join our flickr pool.

333 Sherbrooke St., East: a luxury condominium project designed to appeal to a clientele with an eye for quality and location.

In the heart of Montreal’s trendy Plateau neighbourhood, the development consists of 83 units in Phase I, 67 units in Phase II, and 30 townhouses linked to the property. The second phase of construction at 333 Sherbrooke St. East, was officially launched on April 1st 2008 by Richard Homburg, President and Chief Executive Officer of Homburg Invest Inc., the occupancy is set for autumn 2008. The $35 million second phase increases Homburg Invest’s total commitment to its Montreal portfolio to more than $1 billion over the past three years.

“Phase I is effectively sold out, and Phase II sales have surpassed the critical level needed to ensure the success of the project. Once completed, 333 Sherbrooke St. East will be a reference for luxury condominium living in downtown Montreal.” Mr. Homburg said.

To date, the project has attracted buyers from all over Europe, the United States and Canada.

“Location, location, location. Montreal is ideally situated as a major crossroads for European and North American trade and business,” Mr. Homburg continued. “Montreal possesses all the qualities of a major real estate market, from a large, well educated population to a solid transportation infrastructure to a growing economy supported by healthy activity in several key sectors, like aerospace, life sciences and information technology”

Source: NewsWire.ca

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When we saw the construction from this side of the building, the first thing that came to mind was “Yet another condo project.” But, as it turns out, it will be a new housing for the ETS students, located in the south-east corner of Rue Notre Dame and de la Montagne. According to the sign, it promises to deliver over 450 beds, food court on the first floor, etc. Not bad.

We found out from the workers, the project is expected to be ready by September 2008, although the sign says: Opening Summer 2008. They are only one month behind schedule, wow. Could this be the only project in Montreal that will open on time? We have to see it to believe it. We are keeping our eyes on it.

An interesting thing that will happen is the following: The project across the street Read more »»

As you already know, Montreal’s first quarter market reports were released last week, and the average price of a condo is now $205,000, a 2% increase from last year. Well, a price like that won’t get you much in Montreal’s hottest spots.

If the average price is 205k, what’s the most expensive apartment for sale at this moment? We searched online for properties over 3 million in the metropolitan area, and came up with 3 winners. But this one gets the cake:

It’s located in Old Montreal. The asking price is over 4 million, Read more »»

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 »»

Photographer : Denis Tremblay | Source : www.old.montreal.qc.ca

The Montreal Real Estate Blog showcases outstanding images from talented local photographers. Images are licensed with Creative Commons 3.0 . If you’d like to submit your photography, please join our flickr pool.