Montreal’s most expensive condo. Whoa!

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 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.

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