Who’s Buying What? A Look at the Data on Montreal Homebuyers

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.

Key Takeaways:

  • 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.”

Read more: https://news.shupilov.com/section/market/trends/whos-buying-what-a-look-at-the-data-on-montreal-homebuyers/

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