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! 

Pros of Buying An Airbnb Property in Montreal, Canada

We already know that the chic city of Montreal is widely known for its festivals, culture, history, and gastronomy, So what else is there to know about Montreal? Here are some of the major reasons why you should start  buying a property for Airbnb in this city:

1. Affordable real estate market

Investors will certainly end up being captivated by Montreal’s affordable housing values as its real estate market prices are lower than the majority of big cities in Canada, such as Vancouver or Toronto. In addition, investors can search for different types of properties like townhouses, apartments, or duplexes in popular neighborhoods at an affordable cost.

2. Lively city with many festivals

Montreal is widely known for being a multicultural city with vibrant arts scenes and for this, it hosts many major festivals annually, so many visitors arrive in the city each year. Whether there’s a family visiting the city or a group of friends, there will always be an event to suit their tastes. In addition to this, we should also mention that Montreal welcomes around 8M visitors each year and this amount increases year by year!

3. Low cost of living

Don’t let Montreal’s cosmopolitan atmosphere scare you because this city has a fairly low cost of living! Such as groceries, bills and transportation costs are quite low compared to other major cities.

Cons of Buying A Property in Montreal

Since we discovered the pros of investing in Montreal, let’s discuss some of the cons so you can know what to expect when living in this city. It’s always better to look at the two sides of each coin in order to properly set your expectations.

1. High Taxes

While Montreal’s cost of living is low, the same doesn’t apply to taxes since they are higher than in other cities outside Quebec. However, although taxes are higher, the residents in Montreal enjoy more state benefits!

2. Beware of the weather

Not everything can be rosy and that applies in Montreal’s weather conditions as it can get really cold during winter months with temperatures dropping below zero. In addition to this, rain and are pretty common during winter months as well.