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http://blog.buzzbuzzhome.com/2013/02/montreal-condo-market-optimism.html While the age-old rivalry between Toronto and Montreal has pitted the cities’ hockey teams and arts scenes against each other, there’s another set of bragging rights up for grabs. Which metropolis has the better condo market? Toronto may have mind-boggling number of new units coming on the market, but Montreal is no slouch when it comes to construction crane sightings. We previously reported on the flurry on new builds in Quebec’s largest city and now there are new numbers to make the case for the Montreal boom. Despite concerns about the market overheating, Property Biz Canada pinpointed some optimistic stats coming out of the Quebec Apartment Investment Conference: About 7,726 condo units will be delivered by 2016 in the downtown area, which includes Old Montreal, Griffintown and the Lachine Canal. Of those units, 64 per cent (or 4,658 suites) have already been sold or reserved, leaving 2,568 units left to be sold in the next four years (or 642 a year). According to Debbie Lafave, senior vice president of Baker Real Estate, investors make up 50 per cent of buyers of downtown Montreal condos, compared to the higher percentages suggested for Toronto. Some developers suggested that rental apartment buildings likely aren’t being built since rents in Montreal are too low and construction and land costs are too high to justify their construction. And condos are the most affordable means of entry-point into the Montreal market for first-time buyers. With a condo boom in Canada’s two largest cities, we can’t help but wonder: which city will see the steadiest gains and sales in the future?
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Source: The Gazette New city guide puts Montreal on the geotourism map By MONIQUE BEAUDIN, The Gazette, June 16, 2009 It's a tourist map with a difference. Along with the usual destinations, such as Little Italy and Mount Royal, you'll find more unusual ones, like a series of "green" alleyways in the Plateau Mont Royal and a boutique that makes clothes from recycled materials. Unveiled yesterday by Mayor Gérald Tremblay, the new map promotes geotourism - that is, tourism that protects and preserves the geographic character of a destination, such as its heritage, culture, environment and well-being of its residents. The map was the brainchild of the U.S.-based National Geographic Society, with whom Montreal was the first city in the world to sign an agreement in 2007 promising to adhere to 13 principles of geotourism. "You live in a magnificent and sophisticated city," said Jonathan Tourtellot, the director of National Geographic's Centre for Sustainable Destinations in Washington, D.C. "Tourists should leave here knowing they have visited a city that is unique in Canada, unique in North America, unique in the world. That's geotourism." Creating the map - the first of its kind in the world for a city - took months of consultation with conservation and community groups, as well as the input of residents, who suggested more than 400 locations that scream out "Mont-real." Some that made the cut include Habitat 67, Promenade Bellerive in Montreal's Mercier district and Le Cartet in Old Montreal where visitors can "break bread at communal tables with real-life Montrealers." The map encourages people to visit the city by bicycle, métro or on foot saying "this is one city where you can see almost everything without setting foot in a car." Historical information includes the fact that St. Laurent Blvd. was "reputed for risqué nightlife during the city's heyday as an inland seaport." Other areas with similar geotourism maps include Norway and the Mexican state of Baja California. You can check it out online at www.montrealgeo.com
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(Courtesy of CBC / The Canadian Press)
