According to a survey by Royal LePage, some young Montreal homeowners own more than one property. In fact, 16% of homeowning poll respondents between the ages of 18 and 35 said this was the case.
Even though the rental market is stressed these days, a number of "secondary property owners" don't actually use their second property for rental income, Royal LePage reports.
The company theorized that this is due to the affordability of homes in Montreal compared to Toronto and Vancouver.
"In Montreal, although the real estate market has begun to catch up in recent years, prices remain considerably more affordable, so buyers can purchase without necessarily leveraging equity from a primary residence," real estate broker Roseline Guèvremont said in a press release.
Thirty-seven percent of secondary property owners in Montreal don't collect rental income while 25% said that they only use their second property to collect rental income.
"Among secondary property owners in Montreal, the majority are using the properties for leisure, like recreational purposes, rather than as an investment," Guèvremont said.
"Confidence in the Montreal real estate market has continued to rise in recent years, and many clients have expressed [...] their preference to invest in brick and mortar properties. For younger buyers, it's much more straightforward than investing in the stock market."
While there are a million and one spots to enjoy a 5 à 7 in the city, not everywhere does happy hour quite like this Montreal restaurant in the Village.
Resto Keela serves $6 drinks from 5 p.m. to 7 p.m., including house draft beer, house red or white wine, and speed rail mixed drinks, which is a choice of vodka, rye, rum, or gin — a pretty hard drink deal to beat.
As for food, you can go every week and try a different $6 dish at happy hour. "The $6 bites change from week to week but we always offer 3-5 options," owners Kristin Murphy and Johnny Hamilton told MTL Blog.
I went on September 10 and got to try green beans with a cashew romesco sauce and feta crumble, chorizo sausage, chicken Kaarage with kimchi cucumbers, and organic cherry tomato salad with blue cheese. And I kid you not when I say these dishes all take your taste buds on a culinary trip to heaven.
Keela's full menu is also filled with tons of unique dishes for you to try. The celery root carpaccio is hands down my favourite.
Every Friday night, you can hear the sweet voice of Bud Rice sing live at the restaurant.