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The City of Montreal has raised the most maximum price of new dwellings to obtain financial assistance under the Homeownership Program. This is a first measure used to keep families and attract new ones. Others will be announced by June.
"Some maximum prices were increased to be more faithful to the market in all 19 districts," said the mayor of the district of Southwest Benoit Dorais, Deputy Chairman of the Executive Committee and responsible for housing and social housing.
For a household without children, consisting of more than one buyer, the maximum price of an eligible property was increased to $ 250,000. For a household with at least one child, the maximum price of a property has been increased to $ 280,000. For a household with at least one child buying a three bedroom property, the ceiling was raised to $ 360,000.
"We are exploring different ways to meet the needs expressed by the people and reduce barriers to purchase a property in Montreal," said Dorais.
Two new housing models could be encouraged: condos on two levels low rise buildings, which are similar to townhouses and intergenerational homes, which allow two or three generations to live together. Benoit Dorais intends to present its areas of work to the Executive Committee in a few weeks and drop a guidance document to June.
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