Recently, the CMHC studied the demographics of Montreal home buyers. They learned that a whopping 80% of homebuyers resided on Montreal Island before they became home owners. The appealing areas of Ville-Marie, Le Plateau-Mont-Royal, and Île-des-Sœurs lured the majority of buyers. Most Montreal natives purchase a condo for their first home. Montréal and Laval homebuyers ranged between the ages of 35 and 55. In addition, buyers of houses earned more money than those who purchased condominiums.
- 80% of those who are purchasing homes have actually lived on Montreal Island for over a year’s time span.
- Those who typically purchase suburban homes are from that particular area, or the suburbs surrounding it.
- Griffintown is responsible for producing 25% of the current buyers in the suburbs of Montreal.
“It’s a tradeoff. Young urbanite families with kids are moving from Montreal Island to the suburbs, while young single people from suburbs areas outside Montreal are moving to downtown condos.”
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