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January 6, 2017

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"Could Montreal's real estate market be the next target for foreign investors?" 15% tax on foreign buyers in Vancouver triggers speculation

We know Vancouver property prices have soared due to foreign investors, is montreal going to follow? In my line of work I interact with many different people on a daily basis, from many different demographics and geographical regions. I have seen an influx of French buyers, North African and Middle Eastern buyers and Asian buyers. Many live part time in our "Belle Ville de Montreal" and part time in their country of origin. Some have vacation pads here in Montreal, come and enjoy the gorgeous Montreal summers and stay away during our cold winter months. 

 

Whatever the investors choose to do, I can personally tell you, I see our market shooting up, as the influx of foreign buyers rises. One thing is probable, though:

 

"In Montreal,"... "the foreign real estate buyers most often operate on a much smaller scale, often consisting of "mom and pop investors" or people from France looking for a more affordable lifestyle."I don't think it will ever be to the point where we'll have to put a tax. "

 

http://www.cbc.ca/news/canada/montreal/montreal-real-estate-tax-foreign-investors-vancouver-1.3704178

 

 

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