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real estate montreal

Montreal has long been considered one of the coolest cities in Canada among those who've lived here. Between the iconic food scene, the electric nightlife, and hidden gems that'll transport you straight to Europe, it's a city that doesn't really need to prove itself. Or so we thought.

Last week, a new ranking from Global Citizen Solutions listed the best places to live in Canada based on factors like job opportunities, crime rates, average salaries, housing prices, the cost of living, and more.

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If you've been dreaming of a fresh start in a city where salaries are higher and house prices are affordable(ish) then you might want to look west of Montreal — 2.5 hours west, to be specific.

On August 18, Global Citizen Solutions released its latest list of the top 15 best places to live in Canada, based on factors like employment opportunities, average salaries and home prices, cost of living, and crime rates, among others.

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You may have already heard about the century-old duplex near Marché Saint-Jacques that's been turning the heads of city officials and local passersby — for better and for worse.

Painted bright pink, green and blue with yellow doors and purple stairs, this striking home has become the subject of a heated debate between those who love it, despite it being a marketing stunt, and those who hate it, some even claiming it violates urban planning regulations.

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Walking past this old house in the heart of Outremont, you might notice a glass cube peeking out from atop the roof. It's easy to miss, but a total showstopper for anyone who spots it — an unusual crowning detail for a residential property.

"What is that modern box doing sitting on top of that traditional, brick building?" you might wonder. Since the home is for sale, we can not only answer that question but also allow you to peek inside. And spoiler alert: the glass cube is not a swimming pool or a sunroom or a library, it's a whole damn penthouse spanning 1,600 square feet.

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Renters in Montreal are feeling the pinch as they face rising costs, mirroring a trend across Canada. Montreal rent has seen prices for both one and two-bedroom apartments climb. The median for a one-bedroom reached $1,590 in October, while a two-bedroom now costs $2,100, according to the new Zumper Canadian Rent Report.

Drawing on data from over a million active listings, Zumper paints a picture of the current rental landscape in Canada's top 100 cities by population, including trends in Montreal. The latest data suggests a pause in the rate of rent increases could be on the horizon, based on a pattern observed nationally over the past two months.

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When you think of the average Montreal home for sale, you're not thinking ten-million-dollar price point or in-ground pool or two-car garage, most of the time. But this manor in Westmount is serving just that, with a price tag that could make Celine Dion blush: $13.95 million.

Shrouded in trees and sitting on a whopping 11,000 square foot lot, the house at 809 Upper-Belmont Ave is as mysterious as she is expensive. A child of the late 80's, the manor is perhaps less ostentatious than you'd expect for the price, but its true impact only arrives when viewed from above.

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Now that moving day has come and gone, folks may be settling into their new homes and beginning to grumble about the cost of rent, which feels like it's been increasing for years. And it has! But on the month-to-month scale, that trend seems fuzzier.

A decline, but only short-term

According to housing data analysis performed by liv.rent, the average rent in Montreal has been decreasing slightly for the past two months. Between July 2023 and August 2023, the average rent for an unfurnished one-bedroom apartment fell by $86 to $1,587 monthly. That may sound promising, but the average rent is still $80 higher than it was this time last year, according to liv.rent's data.

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Montreal's real estate market is a tense and complex system of interactions between people with lots of money and almost none, managed by a network of realtors running properties ranging from the cheapest studio apartment to multi-storey residential buildings worth tens of millions of dollars. Within this hive of activity are plenty of bizarre and unbelievable stories, and I was lucky enough to hear two of them straight from the mouth of one of Montreal's foremost high-value realtors, Saguy Elbaz.

Elbaz has worked in Montreal's real estate market for years, spending just over a decade at Sotheby's managing high-value properties. He says he's sold "hundreds of millions of dollars worth of real estate," so it's fair to say he's no stranger to the business.

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Renting in Montreal is an extreme sport, with obstacles everywhere and a barrier to entry higher than the tallest outdoor staircase. There is little positive news to be gleaned from the real estate market these days, but if you're looking for cheaper rents than in Toronto, you're ever-so-slightly in luck — but maybe not for much longer.

Montreal's average rent among active apartment listings is now more than $100 higher than it was at the beginning of 2023, with the citywide average at $1,686 for an unfurnished one-bedroom apartment, according to data aggregated by liv.rent.

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In the face of an escalating housing crisis in Quebec, a new interactive tool aims to bring much-needed transparency to rental prices, with hopes of protecting tenants from the province's skyrocketing rates.

The Rent Registry, created by local non-profit Vivre en Ville, offers historical data on rental rates to protect tenants from excessive increases and curb real estate inflation.

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Calling all culture and design lovers in Montreal! Imperia Condominiums offers a 22-story architectural building and it's the perfect place to call home — it's located in the Quartier des spectacles and is close to all the culture, art and design the city has to offer. With 80% of the units already sold, only a few studios and one-bedroom condos are available. If you need another reason to check them out, with RBC's exclusive promotion, you can get 2% off current interest rates and enjoy affordable luxury.

The Imperia condos offer a unique living experience - you can enjoy the adjacent theatre, rooftop terrace, spa, fitness room and much more. All units are equipped with integrated household appliances, smart locks and thermostats, so they've got you covered. Studios are already all furnished and have a hideaway bed included. Plus, you're only a few steps away from the Place des Arts, contemporary art museums, Maison Symphonique, and the National Film Board. Don't miss out on your chance to live in the heart of the action!

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The average rent across Montreal is still hovering above the $1,500 mark, a far cry from the worst neighbourhoods in Toronto or Vancouver, but still hundreds more than the average rent in previous years. In February of 2022, Montreal's average rent was $1,414, according to liv.rent. Now, it's climbed to nearly $1,600 — but some areas are being hit harder than others.

Traditionally cheaper neighbourhoods, like Hochelaga-Maisonneuve or Villeray-Parc-Extension are seeing slower increases than pricier areas like downtown or Westmount. In Hochelaga, the average two-bedroom will cost you $1,755, much less than downtown's whopping $2,540 average.

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