Canada, known as the "Land of the Maple Leaf," has become one of the world's most prosperous and economically developed nations with the highest quality of life, thanks to its abundant natural resources and highly advanced technology. This has attracted the attention of investors from all over the world. In addition to Toronto and Vancouver, there is another popular investment city in Canada: Montreal, in the province of Quebec.
Located in the province of Quebec, Montreal is Canada's second-largest city and the largest in Quebec. It is considered one of the most livable cities in the world and is recognized by UNESCO as a City of Design. Its strong economy, top-tier education, and high-quality living environment make Montreal increasingly popular among overseas investors.
According to the latest data released by the Greater Montreal Real Estate Board (GMREB), home sales in Montreal rose by 16% year-on-year in July to 3,075 units, marking a new monthly high in eight years. In the first six months of this year, transaction volume from overseas buyers in Montreal saw strong growth, surging by 30%.
At the same time, home prices in Montreal are also rising. The median price of a single-family home increased by 8% year-on-year to $323,000, while the median price of a condominium rose by 2% year-on-year to $256,000.
The Canada Mortgage and Housing Corporation (CMHC) stated that with the implementation of a 15% foreign buyer tax in Toronto and Vancouver, some foreign buyers may have been pushed toward Montreal. The foreign buyer market in Montreal was once dominated by France and the United States, but now there are an increasing number of Chinese investors.
Analysts have noted that home prices in Westmount and the Town of Mount Royal, two neighborhoods in Montreal most popular with Chinese buyers, have already risen significantly and are expected to continue to climb.
Paul Cardinal, Market Analysis Manager at the Quebec Federation of Real Estate Boards, stated that Montreal is currently in a seller's market. Increasing demand, coupled with shrinking supply, has led to fewer listings. If this trend continues, the Montreal real estate market could return to the boom period last seen in 2007.
In contrast to the continuous rise in Montreal's housing prices, Toronto and Vancouver, which previously had hot real estate markets, have both seen a certain degree of decline. Data shows that last month, home sales in Toronto fell sharply by 40.4%, and Vancouver also saw an 8.2% decline. Compared to Toronto and Vancouver, which impose a 15% foreign buyer tax, the Montreal real estate market may become the new favorite for overseas buyers!
2017 can be considered the best year to invest in the Montreal real estate market. From an economic perspective, Montreal's employment rate is rising, the tourism industry is developing rapidly, and consumer confidence among non-permanent residents is increasing. Furthermore, there are currently no plans to impose a foreign buyer tax in Montreal. For overseas investors planning to purchase property in Montreal for asset allocation, now is the time to act.
It is worth mentioning that with favorable Canadian immigration policies and a booming real estate market, investing in Canadian immigration is a win-win for both asset allocation and status planning.
The highly popular Quebec Immigrant Investor Program (QIIP) offers a low threshold, requires no business management, and has no language, education, or age requirements, allowing applicants to obtain a Maple Leaf Card in one step. Furthermore, approval is granted before investment, providing direct access to Canadian permanent residency, which makes it highly sought after by investors.
Every year, once this program opens, the application quota is snapped up in a short period. This year, the Quebec Immigrant Investor Program began accepting applications on May 29, with a total global quota of 1,900 applications (including 1,330 spots for China, including Hong Kong and Macau). WorldWay Group has learned that, as of now, the quota for this year's Quebec Immigrant Investor Program is already running low, and the next round of applications is very likely to face price increases and reforms.
The secret to successfully securing a spot in the Quebec Immigrant Investor Program and avoiding the risk of price increases is speed! Currently, the WorldWay Group project team, documentation team, the branch office established in Canada, and powerful Canadian partner institutions have formed three camps that are already on high alert, opening a fast track for investors to secure their Quebec Immigrant Investor Program quota.
At the same time, WorldWay has also launched several other high-quality projects, such as the Saskatchewan Immigrant Nominee Program (SINP), Manitoba Provincial Nominee Program (MPNP), and Prince Edward Island (PEI) Provincial Nominee Program, all of which offer low thresholds and direct access to a Maple Leaf Card, helping investors successfully realize their dream of immigrating to Canada! For details, please call: 400-138-2929.