Montreal Flash Report 2019
Montreal Flash Report 2019
Office and industrial space absorption is expected to stay strong over the next year.
Commercial investment & land market
- 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.
Industrial & office markets
- 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 market
- 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.
Homebuyers
- 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.