Which Montreal Neighborhoods Are Seeing A Surge in Real Estate Development?

Version:1.0 StartHTML:000000298 EndHTML:000070391 StartFragment:000058778 EndFragment:000070294 StartSelection:000058781 EndSelection:000070289 SourceURL:https://news.shupilov.com/section/lifestyle/new-development/which-montreal-neighborhoods-are-seeing-a-surge-in-real-estate-development/ Which Montreal Neighborhoods Are Seeing A Surge in Real Estate Development? – Shupilov Real Estate News

Montreal’s real estate climate has been particularly discouraging to first-time buyers this year, who are fighting an uphill battle against rising real estate prices, mortgage rates, and diminished inventory. The shortage of townhouses and single family homes, particularly, makes it difficult for young families to find affordable real estate on the Island. Even condo buyers are affected by the competitive market, in which bidding wars are commonplace and closing bids often creep far above the initial asking price.

TL;DR: Areas where new construction is surging generally offer attractive real estate bargains. Here’s a list of the most active areas for new development condos, townhouses and single family houses. Speak to a specialist about buying or selling your Montreal property.

Tracking where a city’s new development is happening is a good way for buyers and investors to sidestep a heated market in their property search. Why? Because developers conduct extensive market research to pinpoint emerging neighbourhoods where land is affordable, amenities are underdeveloped, and the market is expected to take off in the coming years. Chances are, prices will be low but rising in these areas, and the surge of new development will lead to municipal investment in public amenities such as parks, schools, and commercial arteries.

A neighbourhood that stood out this year was Baie D’Urfé in the West Island, which saw a 169.8% increase in development compared to 2017, mostly in the single family home and townhouse market. In the condo segment, Ville Marie (Downtown and Old Montreal), the South West and Rosemont saw the most interest from developers.

Neighbourhoods with the highest surges in new developments since 2017

  • Baie D’Urfé
  • Montreal North
  • Ville Marie (Downtown, Old Montreal)
  • Ville Saint Laurent
  • Pierrefonds-Roxboro
  • South West
  • Villeray – Park Ex

Most active neighbourhoods for new family homes – 2018

  • Baie D’Urfe
  • HOMA
  • Rivière des Prairies
  • Ile Bizard
  • St Laurent
  • Ahuntsic Cartierville
  • Dorval, Cote Saint Luc

Most active neighbourhoods for row townhouses  – 2018

  • St Laurent
  • Baie D’Urfe
  • Lasalle
  • Lachine
  • Rivière des Prairies
  • Plateau
  • Pierrefonds-Roxboro
  • South West
  • Related: A List Of The Hottest New Townhouses And Row Houses Currently Under Construction In Montreal

Most active neighbourhoods for condominiums and apartments – 2018

  • Ville Marie
  • South West
  • Rosemont
  • Ahuntsic Cartierville
  • Ville St Laurent
  • Baie D’Urfe
  • Villeray – Park Ex
AreaSingle Family HomesTownhousesCondos / AptTotal% Change Since 2017
Baie D’Urfe3464213313169.8
Montreal North23132081.8
Ville Marie053624362971.5
St Laurent147224433059.4
South West0841542334.7
Villeray – Park Ex4018919334
Riviere des Prairies232099158-42.3
Ahuntsic Cartierville90352363-52.8
Dorval, CSL87118133-76.6
St Leonard203436-78.4
Ile des Soeurs2002-99.3
Mtl Est0033-96.5
Ile Bizard1902445**

*All figures are sourced from CMHC’s 2018 New Housing report.

Contact our team about buying or selling your property.

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