Last updated on September 4th, 2023
best places to airbnb in Quebec
Key Takeaways
• The stable economy, thriving labor market, and great quality of life in Montreal and surrounding areas have helped many Airbnb hosts to earn a good rental income.
• Discover why investing in rental properties in Montreal, Quebec, and nearby cities can become a financially rewarding experience.
• We reveal the most lucrative neighborhoods and nearby cities in Montreal along with their recommended property types, gross rental yields, and annual revenue.
Introduction
In the eastern region of Canada lies its largest province, Quebec, a fascinating destination with a unique history and interesting culture. This province has a lot to offer to visitors, from a wide variety of top-tier museums, galleries, and restaurants to natural attractions.
Quebec has some of the most fascinating cities in the country, such as the cosmopolitan city of Montreal. Best known as the “City of Saints,” Montreal is considered one of Canada’s leading tourist destinations thanks to its art, music, and exquisite dining scene.
Canada is the top short-term rental market in North America, and this can be further confirmed by checking the Airbnb statistics by city. Thus, most of its cities are certainly attractive for Airbnb investments such as Montreal.
If you’re thinking of starting an Airbnb business in Montreal, you may be wondering which is the most profitable location for investment, right? We got you!
Here we feature the best places to Airbnb in Montreal, Quebec and nearby cities. You will also discover some of the perks of owning Airbnb investment properties in the city. Continue reading to learn more!
Perks of buying an investment property in Montreal, Quebec
Owning an investment property in Montreal or nearby cities located in Quebec will allow real estate investors to generate a nice passive income and ultimately let them achieve the desired financial freedom.
Montreal and some cities in Quebec offer profitable opportunities for real estate investors. But you may still be wondering the reason why investment properties may be profitable in this city. Check out some of the major benefits that Montreal offers:
Healthy and diversified economy
As Quebec’s most prosperous city, Montreal enjoys a flourishing and diversified economy with a thriving labor market. The city experiences huge economic growth thanks to the development of sectors like sciences and medical technologies, aerospace and telecommunications. Moreover, Montreal is also regarded as the world leader in digital creativity.
Montreal is a fast-growing metropolitan area and many people looking for new opportunities are also considering relocating to this city. Thanks to this, there’s also a strong demand for rental properties.
Reasonable housing market prices
It’s always a good strategy to search for locations where the housing market price is low if you’re looking to invest in real estate. While most Canadian cities’ real estate markets have experienced a noticeable rise, there are still a few of them that can be considered fairly affordable.
Among the Canadian markets with reasonable housing values. The average property price is C$535K, which is almost half the median value of the housing market in cities like Toronto and Vancouver.
High quality of life
If you’re looking to have access to high-quality amenities and career opportunities, then Montreal certainly is for you. The city enjoys sustainable growth with a reasonable living cost, an affordable public transportation system, great education institutes and a rich cultural and social life.
Montreal is also the safest city in North America, so you can enjoy a walk with total peace of mind while exploring its public places at any time of the day and night.
Top-tier tourist destination
Montreal offers a wide variety of recreational activities and a world-class cultural scene that attracts a great number of visitors annually. This avant-garde and multicultural city is home to impressive monuments with great architectural value as well as many urban parks.
On the other hand, if you’re looking for natural attractions located close to Montreal, you can take a short trip to visit some of the best natural parks and ski resorts such as the Parc du Mont-Tremblant, Parc de Plaisance, Parc d’Oka, among others.
Moreover, as a cultural city, Montreal also hosts many renowned festivals like the Just for Laughs Comedy Festival, Fantasia Film Festival and Montreal International Jazz Festival. So you will never run out of things to do in Montreal!
Is Airbnb Profitable in Montreal?
Don’t worry! Airbtics assures you that owning rental properties around Montreal is indeed a profitable investment. It’s also a good idea to read the Airbnb regulations in Montreal to avoid breaking the rules.
But if you’re still having doubts about purchasing an investment property, you can always start doing rental arbitrage in Montreal, which is a legal way of earning passive income with minimal capital!
Montreal certainly is a profitable city with interesting investment opportunities, albeit real estate investors should also consider other factors like the property type and location to generate good profitability.
Based on Airbtics’ data, an average Airbnb host can earn up to C$49,106 with a median occupancy rate of 75% for managing a 2-bedroom property in Montreal. With over 4,788 Airbnb listings, Montreal surely is a catch for investors!
Top 10 Areas to Invest in Rental Properties near Montreal, Quebec
Montreal is the second most populous city in Canada and has 19 designated boroughs. If we consider the whole of Quebec Province, it has around 1,218 municipalities. Thus, it’s understandable if you’re having a hard time choosing the right location for your rental property in Montreal or nearby cities
We’ll lend you a hand! The best neighborhoods and nearby cities in Montreal, Quebec are featured below so make sure to check them out:
1. Notre-Dame-de-Grâce, Montreal
- Total Number of Airbnb Listings: 175
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): C$310,000
- Airbnb Annual revenue: C$48,044
- Gross rental yield: 15.50%
2. La Petite-Patrie, Montreal
- Total Number of Airbnb Listings: 184
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$389,000
- Airbnb Annual revenue: C$60,060
- Gross rental yield: 15.44%
3. Shaughnessy Village, Montreal
- Total Number of Airbnb Listings: 171
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$225,000
- Airbnb Annual revenue: C$33,834
- Gross rental yield: 15.04%
4. Villeray, Montreal
- Total Number of Airbnb Listings: 82
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$304,900
- Airbnb Annual revenue: C$33,545
- Gross rental yield: 11%
5. Pointe-Saint-Charles, Montreal
- Total Number of Airbnb Listings: 52
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$339,000
- Airbnb Annual revenue: C$34,916
- Gross rental yield: 10.30%
6. Longueuil, QC
- Distance from Montreal: 18 miles
- Total Number of Airbnb Listings: 219
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$249,000
- Airbnb Annual revenue: C$36,330
- Gross rental yield: 15.59%
7. Laval, QC
- Distance from Montreal: 34 miles
- Total Number of Airbnb Listings: 241
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$327,000
- Airbnb Annual revenue: C$34,356
- Gross rental yield: 10.51%
8. Mont-Tremblant, QC
- Distance from Montreal: 131 miles
- Total Number of Airbnb Listings: 857
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): C$469,000
- Airbnb Annual revenue: C$59,842
- Gross rental yield: 12.76%
9. Sherbrooke, QC
- Distance from Montreal: 156 miles
- Total Number of Airbnb Listings: 126
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$175,000
- Airbnb Annual revenue: C$24,781
- Gross rental yield: 14.16%
10. Quebec City, QC
- Distance from Montreal: 255 miles
- Total Number of Airbnb Listings: 973
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): C$184,900
- Airbnb Annual revenue: C$40,503
- Gross rental yield: 21.91%
Conclusion
In summary, Montreal and the nearby cities mentioned are profitable areas for investment properties because they offer good rental yields, annual revenue and occupancy rates. For this reason, real estate investors can get interesting investment opportunities if they’re aiming for cities located in Quebec Province.
While knowing the top places to Airbnb around Quebec is the best way to start your investment journey, you should aim to go further. We recommend you take advantage of the digital era by making use of analytics tools like our free Airbnb calculator. Stand out among your competitors while boosting your profitability!
