Montreal Flash Report 2019

By Altus Group | April 4, 2019

Office and industrial space absorption is expected to stay strong over the next year.

Investment property sales volumes in the Montreal Market Area totalled $6.5 billion in 2018, up 18% from 2017.
The Apartment sector continued to attract the most investment dollars in 2018.
Just over half of the value of residential land sales was for High Density land.
The $112 million acquisition by Akelius Montreal Ltd. in Ville-Marie contributed to the strong Apartment performance in 2018 and boosted foreign investor sales in the Montreal Market Area.

Strong demand for industrial space pushed the vacancy rate lower again in 2018, despite increased new supply.
Completions of new office space dropped to the lowest level since 2011.
Two-thirds of new office space under construction is located in Downtown Montreal.

New condominium apartment sales push higher in 2018.
New condominium apartment inventory falls to 7 months of supply.
New condominium apartment sales were up in 2018 across the Montreal Market Area.

Potential first-time buyers more hesitant this year.
Many younger renters want to buy a home, but are still saving for a downpayment.
Half of recent homebuyers were first-time buyers.