Unless hampered once again by pandemic restrictions, immigration is expected to be a major driver of rising demand for housing.
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The aggregate price of a home in the Montreal metropolitan area in the fourth quarter of 2022 is expected to increase eight percent year-over-year to $ 564,800, according to Royal LePage’s 2022 Home Price Forecast.
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The forecast, which was released Wednesday, also sees the median price of a single-family single-family property to rise nine percent to $ 648,600, while the median price of a condo is projected to rise 6.5 percent to 447,300. Dollars.
While the forecast notes that single-family homes have been the most sought-after property type in 2021, “strong demand for condos is expected to resurface in the new year as potential buyers face stiff competition and rising prices in the new year. the single-family and semi-detached housing segments. ; Not to mention the first anticipated increase in interest rates since March 2020. “
In a statement, Dominic St-Pierre, vice president and general manager of Royal LePage Quebec, said he expects multiple offer scenarios to be less common in the next year than in 2021.
Reference-montrealgazette.com