Canada
Montreal Median Condo Price Up 2.8%
Montreal’s median condominium price rose 2.8% year-over-year in June, according to a Canadian Press report.
CP cited Quebec Professional Association of Real Estate Brokers (QPAREB) figures.
The increase could have implications for future condo development projects as investors look to bring more capital off the sidelines amid falling interest rates. More interest-rate cuts are expected after the Bank of Canada cut its key overnight lending rate to 4.75% in early June from 5% following a series of holds and increases.
Montreal’s median condo price increased to $401,000 while the median price for all housing types rose 7.2% year-over-year to $777,000. Total active listings jumped 24.4% while new listings rose 7.6%.
- ◦Development
