Considering this ultra-lavish two-level residence comes with three bedrooms, three bathrooms, two garages, a private walk-out terrasse, and the prettiest windy stairs I've ever seen, it's safe to say that you get what you pay for.
Young Montrealers' dreams of homeownership might be slipping further and further beyond reach. Montreal area home prices jumped significantly between the third quarter of 2020 and the third quarter of 2021, according to the latest report from the Quebec Professional Association of Real Estate Brokers (QPAREB).
It recorded a 17% increase in the median single-family home price in Greater Montreal — up to $500,250 — compared to Q3 of 2020.
While all areas included in the QPAREB report saw price increases, some were more dramatic than others.
Montreal Island actually posted the smallest increase in the median home price: just 11% compared to Q3 2020.
Laval and Saint-Jean-sur-Richelieu each posted a 14% increase. The QPAREB noted a 19% increase in the median single-family home price on the South Shore; a 20% increase on the North Shore; and a whopping 25% increase in the MRC of Vaudreuil-Soulanges.
The median condo price also increased in every part of Greater Montreal, according to the report: a 9% increase on the Island of Montreal compared to Q3 2020; a 21% increase in Laval; 22% on the South Shore; 24% in Vaudreuil-Soulanges; 26% in Saint-Jean-sur-Richelieu; and a 28% increase on the North Shore.
Meanwhile, the number of real estate transactions and active listings in the Montreal area both plummeted, by 29% and 20%, respectively, compared to Q3 last year.
Montreal's Ritz-Carlton Hotel was ranked number one in a list of the "Best City Hotels in Canada" in a recent Travel & Leisure survey, beating out iconic hotels in Vancouver, Quebec City and Toronto.
Montreal's Ritz-Carlton ranked high among readers, Travel & Leisure says, for its exclusive amenities, "tremendous views" of the city, and its access to activities around downtown Montreal. But if you want to spend a night at the Ritz-Carlton, be prepared to fork out a lot of money.
As of the time of writing, the most basic "deluxe room" with a king-sized bed for Thursday, September 9, will run you between $495 and $715 per night.
If you wanted to book a room with a king-sized bed for this upcoming weekend (September 11), the Ritz-Carlton has a "staycation promotion" that comes with breakfast, a bottle of sparkling wine, a $50-dollar food and beverage credit and 30% off at the spa for $715 per night.
This same promotion is available for a one-bedroom suite with a fireplace and a king-sized bed, as well, which will cost $1,135 per night.