Sign up for our newsletter and get a curated list of the top trending stories and exclusive rewards every day.

Trending Topics

Get the MTL Blog app

Download on the App StoreGet it on Google Play

Here's Why Everyone On Your Insta Can Suddenly Afford A House In Quebec

Is now the best time for Millennials to buy?
Senior Editor

You're not the only one dreaming of buying right now. A new report from Royal LePage shows that millennials have been jumping at the chance to purchase homes for sale in Quebec in the last year. Even more plan to do so in the near future.

In a survey conducted by the company, 50% of Quebec respondents between the ages of 25 and 35 said they own their own home. A whopping 28% of Montrealers in that group said that they "have purchased a home since the onset of the pandemic."

Editor's Choice: A City In Quebec Just Ranked As #1 In Canada To Study In For 2021 & It Wasn't Montreal

That's "the highest rate among the cities surveyed," according to the report.

19% of Montreal survey respondents who do not own a home said they plan to purchase this year, Royal LePage says. 68% plan to buy in the next five years.

The reason for this surge? According to the report: "low interest rates, the ability to work remotely and the desire to invest in long-term quality of life."

Roxanne Jodoin of Royal LePage Privilège in Saint-Bruno-de-Montarville added that she's seeing young Quebecers "returning to their roots" as they buy up property in the suburbs.

"Some left their childhood homes in the suburbs to go to University in the city but the current economic situation is driving them back home where they can enjoy more square footage, a yard and a space they can call their own," she said.

"Becoming a homeowner is increasingly important to this generation and it is clear that many of them are taking steps to make that happen."

The survey also revealed that "Quebecers aged 25-35 are the most confident in the country when asked about their financial future."

"The pandemic provided an unexpected prize for young Canadians — a path to home ownership," Royal LePage President and CEO Phil Soper said.

More from MTL Blog

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.