Thursday, 16 January 2014

Montreal to See Moderate Growth in Real Estate Transactions for 2014

A new report by the Quebec Real Estate Federation indicates that the number of  real estate sales concluded by  brokers in the residential  market for the Montréal  Census Metropolitan Area will jump by 3 per cent in 2014 to reach 37,600 transactions. This increase will not erase the sharp 9 per cent decline registered last year. But still the Montreal Market improving bodes well for Quebec overall, and the overall regions economic growth and prospects.

 As was observed in 2013, the median price of condominiums will remain stable in 2014 in the Montréal area. "A slight surplus of condominiums, both in the resale and new markets, will continue again this year," noted Paul Cardinal.

With respect to the median price of single-family homes, a slight increase of 1 per cent is expected in 2014. Thus, the median prices of single-family homes and condominiums will increase to $283,000 and $227,000 respectively in the metropolitan area as a whole.

After three years of strong increases, the upward trend in the number of properties available on the resale market will end in 2014 and market conditions will stabilize: they will remain balanced for single-family homes and plexes and will continue to slightly favour buyers in the condominium market.

Excavation Begins on Icon Bay Halifax (Bedford) Nova Scotia

Word has spread online that the developer has received word from the developer that excavation has begun for Icon Bay Halifax, Office Condo Development. This 21 floor condo tower is going to be located across the way from the Fairview Container Terminal on the edge of the urban/suburban landscape of Halifax. 

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