Real estate: the cheapest places to buy in Montreal

Real Estate: The Cheapest Places to Buy in Montreal

Buying a property in Montreal in 2022 is a big drain on your savings. Métro has targeted the least expensive sectors.

The budget is tight, but the desire to move into a new property tickles you? Here are the most affordable boroughs and neighborhoods in Montreal as well as their respective attractions.  

1. Montreal North 

The positive points: its parks, its certain tranquility, its proximity to Ahuntsic, its beautiful streets. 

Why it's cheaper: its less near central neighborhoods, away from metro lines, its old reputation as a “less safe” neighborhood. 

The review from broker:“The area has had a bad reputation in the past due to repeated violence. It's from the past. There are beautiful quiet streets, beautiful grounds and beautiful parks. A good choice, much cheaper than its neighboring district, Ahuntsic.” – Geneviève Langevin, real estate broker, Royal LePage Altitude.  

Preferred sectors:  

  • Between Audoin and Saint-Vital (east-west) and between Gouin and Fleury (north-south), it’s like living in Ahuntsic without paying the price of Ahuntsic. It’s really bordering and public transport is accessible, as are the shops. 
  • Also between Saint-Vital and Balzac (east-west) and Henri-Bourassa and Gouin (north-south ), it’s quiet and really close to the waterfront and bike paths, in addition to being very close to the future SRB on Pie-IX. 

Median-price (last 12 months) 

  • Single Family: 415,000 $ 
  • Condominium: $285,000

Real estate: the cheapest places to buy in Montreal 

Photo Paul Hanaoka/Unsplash

2. East of the island 

The good points: its country feel (even if you're in town), its serene atmosphere, its proximity to the water, its very family-friendly homes, its affordability, its new waterfront amenities.  

Why it's cheap: its proximity to the refineries in the east and the fact that this area is less well served by public transport. 

< strong>The broker's opinion: “People will turn to this place with the rise in prices in other sectors, but again, it's mainly by compromise”, Geneviève Langevin, real estate broker at Royal Lepage Altitude. “It's still a beautiful family neighborhood not to be overlooked” – Nicolas Montmorency, real estate broker, Via Capitale Distinction.  

Preferred area:  near Old Pointe-aux-Trembles, more precisely near the Saint-Jean-Baptiste Blvd.; a revitalization project and real estate projects are underway.  

Median price (last 12 months)

  • Single-family: $445,000 
  • Condominium: $272,500 

3. Anjou–Saint-Léonard 

Positive points: access to highways 25 and 40, quiet streets, numerous parks, proximity to the Galeries d'Anjou, its abundance of single-family homes, well served by public transport. 

Why it's not expensive: its distance from the city center and the lack of knowledge of the sector lowers demand. 

The broker's opinion:< /strong>“It’s a family neighborhood, but rather devoid of small shops. It will suit a family that prioritizes having space, land in particular, and who intends to travel. It's a more Laval [or suburban] life, let's say.” – Geneviève Langevin, Real Estate Broker, Royal LePage.  

Preferred areas:  

  • Jarry Street, between the boulevard Viau and boulevard Langelier. New condo projects abound there. The extension of the blue line will also make the area even more attractive.  
  • Boulevard des Galeries d'Anjou, from Beaubien going north to Highway 40 and Langelier. The extension of the blue line to this area will provide greater accessibility to central neighborhoods. And who says new metro stations means new surrounding businesses, which will revitalize the area and boost property prices.  ;

Median price (last 12 months)

  • Single-family: $610,000 
  • Condominium: $338,870 

4. Mercier–Hochelaga-Maisonneuve 

Real estate: the cheapest places to buy in Montreal 

Photo: Etienne Delorieux/Unsplash

Positive points:its rather central location, the historic character of the buildings, its diversity of properties (lofts, condos, plexes), its commercial streets (Promenade Ontario), its small shops, its bistros. 

Why it's not expensive: some areas are more disadvantaged, which makes some buyers hesitate.  

The broker's opinion: “This is a sector that will continue to develop, and where there is transport. He deserves to be known. We like it or we don't.” Geneviève Langevin, real estate broker, Royal LePage Altitude. 

“There is really enthusiasm for this sector » – Nicolas Montmorency, real estate broker, Via Capitale Dinstinction.  

Preferred sector:Tétreaultville, south of Sherbrooke. For its affordable prices and its proximity to the city center. There are beautiful commercial streets, small local businesses with many resident cooperatives and a real estate complex under construction. 

Median price (last 12 months) 

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  • Single-family: $520,000 
  • Condominium: $355,000 
  • 5. VilleraySaint-MichelParc-Extension 

     Positive points: its green spaces, its accessibility, its interesting shopping streets , its proximity to the metro, its small terraces, its restaurants and its lively neighborhood life. 

    Why it's cheaper: its proximity to more underprivileged or more residential (without neighborhood life). 

    The broker's opinion: “It is a neighborhood that will increase in value” – Geneviève Langevin, real estate broker, Royal LePage Altitude.  

    The preferred sector: Parc-Extension, west of boulevard de l'Acadie. There are many local shops, including small neighborhood restaurants.  

    Median price (last 12 months)

    • Single Family: $617,000 
    • Condominium: $388,870 

    Sources: Residential Barometer (2021); Professional Association of Quebec Real Estate Brokers (APCIQ).  

    Cheaper than the neighbour's! 

    Why are prices falling in one neighborhood and not in the other? 

    According to Charles Brant, director of the market analysis service at the Association professionnelle des courtiers immobiliers du Québec, prices are established according to the quality and availability of properties (supply and demand) as well as demographics. of each sector.

    According to him, the districts where the average income of the population is lower are generally characterized by a higher rental supply. “So there are fewer condominiums, less inventory on the resale market and that translates into less availability,” he says. 

    Why is a certain location more in-demand than another? 

    Public transit, neighborhood life and proximity to central neighborhoods explain this phenomenon, according to Geneviève Langevin, broker at Royal LePage Altitude. 

    She also notes that cultural and economic investments also cause prices to rise a lot.  

    “When there are artists or galleries settling in the sector, it is a sign of increases,” she believes. That means more designers, more artists, more beauty. […] Also, when you have major companies, like Ubisoft, coming to set up shop in one place, there's a boom afterwards.” 

    With the collaboration of Coralie Hodgson , David Flotat and Jason Paré. 

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