Royal Lepage real-estate agent Patricia Karchemny says studies that say our market is overvalued are based on the fact that Montreal rental rates are very low compared to our property values because the Quebec Rental Board keeps rental prices in check.
“If you’re only looking at that then obviously we would be out of whack compared to Toronto or Vancouver, but I don’t believe we’re overvalued here,” she said.
On her website, Montreal Real Estate Pro, Karchemny recently published her take on the Montreal real-estate market, stating: “Prices are still growing above the inflation rate of 3.5 per cent with a five-per-cent rise for single-family homes over September 2007, but there are 10 per cent more active listings on the market compared to the same period last year.”
