12 May Discover The Best Montreal Neighborhoods To Invest
Discover The Best Montreal Neighborhoods To Invest
The best Montreal neigborhoods to invest in are sprinkled across the city. There are several things to take into consideration before investing. After taking the decision to to buy a Montreal property, it’s most important to review your primary investment objective. Is your investment strategy a long term buy and hold over the next 20 years, or is it short term where you’ll buy, hold and sell, and look for high rental yields. Ideally, it’s smart to purchase a solid property with a great location that will only appreciate in value over the years. If the potental rental yield is high, then you end up with the best of both worlds.
A Nice Selection Of Neighborhoods To Invest In!
Thankfully we have a nice selection of Montreal neighborhoods to choose from. The neighborhoods I find are strong are Old Montreal, Le Plateau Mont Royal, including Mile End. Parts of downtown Montreal. Rosemont Le Petit Patrie, St Henri, Pointe Saint Charles, Griffintown. Each quartier has it’s own style, demographic, price point and clientelle.
In general, rents for a one bedroom in these neighborhoods run the gamut from between $1400 – $1800, two bedrooms, from $1600 – $2400, of course this depends on the size, amenities, level of luxury, parking, furnished or not, and proximity to local transportation. We also can’t forget that the golden three rules of real estate still ring true;
3)Remember rule number one and two!
Information Source Via GlobalPropertyGuide.com
Rental incomes in Canada Montreal yields 5.4% to 7%, Toronto yields from 4.4% to 5%
“If you are looking for rental returns, Montreal is the city that you want.”
|Last Updated: Jan. 27, 2017|
|TORONTO||PRICE/SQ.M. (US$)||YIELD (p.a.)||PRICE/SQ.FT. (US$)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|Casa Loma condos||7,073||26.81||4.55%||657||2.49|
|Forest Hill condos||5,774||29.44||6.12%||536||2.74|
|Lawrence Park South condos||7,600||27.14||4.29%||706||2.52|
|Rosedale-Moore Park condos||12,181||24.51||2.41%||1,132||2.28|
|The Annex condos||7,986||27.72||4.16%||742||2.57|
|Coal Harbour condos||11,909||n.a.||n.a.||1,106||n.a.|
|Davie Village condos||8,784||n.a.||n.a.||816||n.a.|
|West End condos||10,552||n.a.||n.a.||980||n.a.|
|West Point Grey condos||6,999||n.a.||n.a.||650||n.a.|
|Source: Condos.ca Definitions: Data FAQ See also: Update Schedule|
“Situation normal” for rental returns in Canada – returns on apartments in Montreal outpace those in Toronto. What is perhaps more surprising is how well these rental yields are holding up, remaining firmly in the satisfactory range. If you own a small apartment of 60 sq. m. in Montreal and rent it out, you are likely to make a return of around 7%. In this low-return era, in a low-risk country such as Canada, that is a really acceptable, not to say enticing, yield.
Even on a largish 120 sq. m. apartment in Montreal, you are likely to earn a gross rental return of 5.4%.
In Toronto, gross rental yields are lower, at between 4.4% to 5%. Taking account of the fact that we give gross figures – a guess might be that net yields would be 2% lower – then obviously the difference in returns between Montreal and Toronto is really significant.
For more detailed information on the numbers and Montreal neighborhoods to invest, drop me an email, I look forward to hear from you!