«Ce n’est plus une récession, c’est une déprime, une dépression», lance le courtier propriétaire de Remax Tremblant, Konrad Kubiak, à propos du marché des condominiums. «Dans le condo, c’est très laid», rajoute celui qui travaille dans l’immobilier depuis 28 ans.
Même si tous les courtiers à qui nous avons parlé hier sont loin d’avoir une vision aussi noire, tous s’entendent pour dire que le marché a changé: les acheteurs ont désormais le gros bout du bâton, surtout avec les vendeurs étrangers.
«On a eu des deals incroyables», soutient Steven Lafave, d’Immobilier Playground, qui fait partie de la famille Intrawest. Et pour trouver ces aubaines, l’acheteur a intérêt à regarder qui est le vendeur, suggère-t-il.
MLS® sales in the Montréal Metropolitan Area increased by 8 per cent in May 2009 compared to May 2008, with single-family homes leading the way at 13 per cent, reported the Greater Montréal Real Estate Board. Property prices also continued their upward trend, as the median price of a single-family home grew by 3 per cent.
“Consumer confidence, which is at its highest level since July 2008, largely explains this increase in sales,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “In May, 55 per cent of Québecers said that now is a good time to make a major purchase, such as a property, compared to 38 per cent in April. There are three factors that affect the real estate market – consumer confidence, interest rates, which are at historically low levels, and job creation,” he added. Read More
More than 100 influential representatives of the real estate industry gathered today at a luncheon which took place at 433 Chabanel for the 
presentation of the “New Chabanel…design unlimited”, a project developed by Groupe Dayan. Guests were invited on a tour of newly-renovated spaces already occupied by recent tenants. Combining commerce, creativity and lifestyle, the project brings together coffee shops, boutiques, office spaces, lofts and a variety of multi-purpose areas, in the heart of this district rich in commercial heritage.
The “New Chabanel… design unlimited” comprises five buildings situated along Chabanel Street, 
including 99, 125, 225, 333 and 433, where the most important cluster of Canadian leaders in the fashion and design industry are already established. Many more blue-chip names of the fashion and design industry are expected to join them shortly.
The “New Chabanel… design unlimited” project is intended to optimize the value of the existing real estate infrastructure which already boasts a rich history in the North-American fashion industry. The project was inspired by the latest trends in 
technology and design and is guided by a mission to respect fundamental principles of sustainable development. To make it a reality, Groupe Dayan recruited experts in the field of sustainable development to ensure that the project both respects the most recent environmental standards as well as maintains its heritage value.
For example, it features the installation of sophisticated, high-tech systems that control lighting and heat and help to minimize energy consumption. 433 Chabanel possesses one of the largest green roofs in Montréal.
According to M. Albert Ezerzer, Vice-President, Operations of Groupe Dayan, “Despite the economic difficulties presently experienced in the real
estate industry, we are convinced of the value of the “New Chabanel” project and of the positive impacts it will have on Montréal.” He specifies that the “New Chabanel” promises to be one of the most dynamic and exciting commercial districts and remain a focal point in fashion and design in Montréal and internationally.”
Furthermore, the City of Montréal and the Ahuntsic-Cartierville Borough are contributing to the revitalisation of Chabanel with an investment close to 20 million dollars of which the first phase has already been initiated.
Quebec’s housing markets have put up surprisingly strong resistance to the general downturn and have been among the last in Canada to yield to the weakening trend. In fact, the main sign of cooling thus far has been a drop in resale activity since the
final quarter of last year from the near record levels that prevailed until just a few months earlier. Prices have held up reasonably well even if showing hints of tracking slightly lower in recent months.
Some of the persisting market strength in Quebec can be ascribed to sensible affordability levels, which had eroded only modestly during the market heat-up of the past few years. Moreover, this modest erosion has begun to reverse since the beginning of 2008 thanks to lower mortgage rates, higher family income and, in more recent months, flat or slightly declining home prices. At
the current pace of improvement, RBC’s affordability measures for the province will be back to historical averages by about mid-year, which should work as a mitigating factor against the effects of the recession.
MLS® sales in the Montréal Metropolitan Area are picking up, with only a 6 per cent decrease in the number of transactions in April 2009 compared to April 2008, the month that broke all records, reported the Greater Montréal Real Estate Board. The median price of condominiums increased by 5 per cent, while single family-homes remained stable.
“It is a good time to buy a property today,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Mortgage rates are at their lowest level in more than half a century and the inventory of properties is growing, giving buyers more choice. Buyers are taking a bit more time to buy, as shown by the average sale time. While single-family homes stayed on the market for an average of 67 days in April 2008, in April 2009, the average was 80 days,” he added. Read More
Canada’s housing market is showing signs of emerging from its winter hibernation, according to the latest Real Estate Trends report released today by Scotia Economics. Nationally, home sales strengthened in both February and March, and preliminary reports suggest this firming trend continued in April.
The Real Estate Trends report notes that the rise in demand, combined with fewer new listings, has restored a better balance to the market. The national new-listings-to-sales ratio averaged 2.2 in March, down from a cycle peak of 2.7 last November (about 2.0 is considered balanced). Average home prices steadied in February and March, though were still down almost eight per cent year-over-year, or five per cent on a regional sales-weighted basis.
“These ‘green shoots’ are encouraging,” said Adrienne Warren, Senior Economist and Real Estate Market Specialist, Scotia Economics. “On an annualized basis, average home prices in early 2009 are running about six per cent below last year’s levels, while sales volumes are down 16 per cent. This is tracking a slightly better performance than our forecast for a 10 per cent decline in average prices this year, and at the low end of our forecast for a 15 per cent to 20 per cent drop in sales.
The low demand which has plagued Westmount since last September is finally having its impact on sale prices, which now have dropped some 10 per cent in the last six months. We are now looking at price levels equivalent to 2006, having lost all the momentum of the last two years.
Agents have reported 10 home sales in March — which is usually the busiest month of the year in Westmount, with an average of 24.4 sales. The total volume this year is only 25 one- and two-family dwellings, just over half the 47 reported in the first three months last year. Read More
The drop in MLS® sales evidenced over the last few months in the Montréal Metropolitan Area relented in March, registering a 12 per cent decrease compared to the same month last year. Property prices continued to increase slightly, with the median price of a single-family home reaching $227,000, reported the Greater Montréal Real Estate Board. “Spring is the busiest time of the year for the resale market, and 2009 should be no exception,” said Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “Interest rates are at their lowest ever, and consumer confidence is up. In March, 39 per cent of consumers said that now is a good time to make a major purchase, such as a property, compared to 28 per cent last month,” he added. Read More
Home sales in Montreal were down 37% in January, compared to a year ago, though home prices are still up, the Greater Montreal Real Estate Board reported.
The board reported Wednesday that there were 1,662 transactions in the month, down 37% compared to January 2008. Sales of single-family homes were down 36% on the year, while condo sales were 37% lower.
“It’s obvious that the sales decline is mostly due to a drop in consumer confidence,” said Michel Beauséjour, CEO of the GMREB.
House prices held firm, however, with the median price still up 3% in the month compared to a year ago. The median price of single-family homes rose 3% to $225,000, while condo prices were up 4% to $181,000.
Beauséjour noted that the moderate price increases are contrary to the situation playing out in other Canadian cities, such as Toronto, Vancouver and Calgary.
Statistics Canada reported earlier on Wednesday that new home prices in Canada rose an average of just 0.4% in December. New home prices in Toronto, Montreal and Vancouver were all flat in December, StatsCan
reported. Read More
