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Greater Montreal Real Estate Board Statistics: Real Estate Market Off to a Strong Start ILE-DES-SOEURS, QUEBEC--(CCNMatthews - Feb. 7, 2007) - The real estate market is off to a strong start with sales increasing by 16%, according to statistics from the Greater Montreal Real Estate Board (GMREB) MLS® System. In January 2007, 3,631 homes changed hands, compared to 3,141 in 2006.

 

"Job creation is strong, consumer confidence in the economy is still positive and despite a slight increase in interest rates in 2006, the market remains good to buy or sell a home", says GMREB Chief Executive Officer, Michel Beausejour, FCA. "The environment for the real estate market will remain favourable in 2007 with the number of listings still increasing, which will help balance the market and slow down price increases. As for the number of transactions, we expect that 2007 will be similar to 2006."

 

Condominiums

 

The highest increase in transactions was observed in condominium sales, which went up by 21% in January 2007, from 628 sales in January 2006 to 763. The increase was even stronger on the Island of Montreal, which recorded 39% more condominium sales.

 

"The condominium resale market has reached a balanced level on most of the Island of Montreal and we are now even talking of a buyers' market in the boroughs of Ahuntsic-Cartierville and Saint-Laurent", adds the GMREB spokesperson. "In such a context, it becomes even more important to hire a real estate agent in order to ensure a quick transaction at the best possible price."

 

In terms of condominiums, the average price went up by 7% in January 2007 to $200,000, compared to $187,000 in 2006.

 

 

 

----------------------------------------------

CONDOMINIUM

----------------------------------------------

January 2007

----------------------------------------------

Administrative Average Variation

Region Price 2005-2006

----------------------------------------------

Montreal $227,000 +6%

----------------------------------------------

Laval $160,000 -0,5%

----------------------------------------------

Monteregie $162,000 +9%

----------------------------------------------

Laurentides $173,000 -8%

----------------------------------------------

Lanaudiere $129,000 +5%

----------------------------------------------

 

 

 

Single-family homes

 

In January 2007, the single-family home market increased by 14% with 2,341 sales recorded on the GMREB MLS® System, compared to 2,046 sales at the same time in 2006.

 

The average value of a single-family home rose by 2%, from $204,000 in January 2006 to $209,000 in January 2007.

 

 

 

----------------------------------------------

SINGLE-FAMILY HOME

----------------------------------------------

January 2007

----------------------------------------------

Administrative Average Variation

Region Price 2005-2006

----------------------------------------------

Montreal $315,000 +3%

----------------------------------------------

Laval $214,000 +4%

----------------------------------------------

Monteregie $201,000 +2%

----------------------------------------------

Laurentides $182,000 -4%

----------------------------------------------

Lanaudiere $162,000 +6%

----------------------------------------------

 

 

 

This is not necessarily a true indication of the actual price of single-family homes in all sectors of the Greater Montreal area, but rather an indication of the trend in the average cost of properties located in the areas covered by the GMREB.

 

In January 2007, the total sales dollar volume of units sold reached $761 million, rising 18% from the $643 million recorded in January 2006 in the GMREB MLS® System.

 

In January 2007, 10,146 new listings were entered in the system, up by 8% compared to the 9,424 new listings entered in January 2006.

 

As of January 31, 2007, there were 36,585 residential listings in the GMREB MLS® System, compared to 33,389 at the same time last year.

 

About the Greater Montreal Real Estate Board

 

The Greater Montreal Real Estate Board is a non-profit organization with close to 9,000 members - real estate agents and brokers. Second largest real estate board in Canada, its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives and maintain their predominance in the real estate industry.

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  • 4 weeks later...
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Greater Montreal Real Estate Board Statistics/Real Estate Market: 2007 Begins on a High Note ILE-DES-SOEURS, QUEBEC--(CCNMatthews - March 6, 2007) - According to statistics compiled by the Greater Montreal Real Estate Board (GMREB), the real estate market begins the year 2007 on a high note with 8,954 transactions, an 11% increase compared to the 8,073 transactions recorded for the same time period in 2006. For the month of February, 5,350 sales were recorded on the GMREB MLS® system, up by 8% compared to the 4,932 sales of February 2006.

 

"Economic conditions have a direct impact on the real estate market and since current conditions are positive thanks to sustained job creation, strong consumer confidence in the economy and low interest rates, the market remains excellent for those who want to buy or sell a property", says Michel Beausejour, FCA, Greater Montreal Real Estate Board Chief Executive Officer. "If all economic indicators remain good in 2007, the real estate market could again set new records."

 

Since the beginning of the year, the condominium market shows the strongest growth with a 13% increase. According to the GMREB MLS® system, there were 1,900 sales, compared to 1,675 in 2006. In February 2007, 1,138 condominiums changed hands, a 9% increase compared to February 2006.

 

In 2007, the average sale price for a condominium increased by 6% to $199,000, compared to $188,000 for the same time period in 2006. According to GMREB statistics, the average price for a condominium in February 2007 was $198,000, up by 5% compared to the price of $189,000 recorded in February 2006.

 

 

 

-------------------------------------------------------------

CONDOMINIUM

-------------------------------------------------------------

February 2007 Year 2007

-------------------------------------------------------------

Administrative Average Variation Average Variation

Region Price 2006-2007 Price 2006-2007

-------------------------------------------------------------

Montreal $225,000 +2 % $226,000 +3 %

-------------------------------------------------------------

Laval $178,000 +18 % $170,000 +10 %

-------------------------------------------------------------

Monteregie $161,000 +9 % $161,000 +9 %

-------------------------------------------------------------

Laurentians $164,000 -10 % $168,000 -9 %

-------------------------------------------------------------

Lanaudiere $134,000 +2 % $131,000 +2 %

-------------------------------------------------------------

 

 

 

Single-family home sales are up by 11% to 5,881 properties sold since the beginning of 2007, compared to 5,288 sales for the same time period in 2006. For the month of February, single-family homes increased by 9% to 3,549 transactions compared to 3,242 in February 2006.

 

According to statistics compiled by the GMREB since the beginning of 2007, the average sale price went up by 6% to $216,000, compared to $204,000 for the same time period in 2006. In February 2007, the average price of single-family homes was $221,000, up by 9% compared to $204,000 in February 2006.

 

 

 

-------------------------------------------------------------

SINGLE-FAMILY

-------------------------------------------------------------

February 2007 Year 2007

-------------------------------------------------------------

Administrative Average Variation Average Variation

Region Price 2006-2007 Price 2006-2007

-------------------------------------------------------------

Montreal $337,000 +8 % $329,000 +6 %

-------------------------------------------------------------

Laval $224,000 +4 % $220,000 +4 %

-------------------------------------------------------------

Monteregie $206,000 +8 % $204,000 +6 %

-------------------------------------------------------------

Laurentians $205,000 +10 % $197,000 +5 %

-------------------------------------------------------------

Lanaudiere $168,000 +11 % $166,000 +9 %

-------------------------------------------------------------

 

 

 

This is not necessarily a true indication of the actual price of single-family homes in all sectors, but rather an indication of the trend in the average cost of properties recorded on the GMREB MLS® system.

 

In February 2007, the total sales dollar volume of units sold reached $1.2 billion, rising 19% from February 2006 in the GMREB MLS® system. Since the beginning of 2007, the total sales dollar volume of units sold reached $1.9 billion, up 18% compared to $1.6 billion for the same time period in 2006.

 

As of February 28, 2007, there were 38,784 residential listings in the GMREB MLS® system, compared to 35,869 at the same time last year, which is an 8% increase. Also, 9,971 new listings were entered in the system last month, up by 3% compared to the 9,710 new listings entered in February 2006.

 

About the Greater Montreal Real Estate Board

 

The Greater Montreal Real Estate Board is a non-profit organization with close to 9,000 members - real estate agents and brokers. Second largest real estate board in Canada, its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives and maintain their predominance in the real estate industry.

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  • 7 months later...
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Greater Montreal Real Estate Board Statistics: 2% Increase of Sales in September

ILE-DES-SOEURS, QUEBEC--(Marketwire - Oct. 16, 2007) - The residential resale market saw a 2% increase in September 2007, according to the Greater Montreal Real Estate Board's (GMREB) MLS® system. A total of 3,623 residential property sales were compiled in September, compared to the 3,553 transactions recorded in September 2006.

"It's normal to see growth that isn't as strong at this time of year," says Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "After nine months of activity, there is no doubt that the resale market is heading once more for a record year of activity."

Thanks to strong growth over the spring and summer in 2007, the number of transactions since the beginning of the year now reaches 44,055, a 12% rise in comparison with the period between January and September 2006.

"The strength of the resale market over past years goes hand in hand with the fact that more and more people in the Montreal area have made their dream of becoming an owner come true," says Michel Beausejour. In fact, according to data recently published by Statistics Canada, the percentage of households that own their property went from 50% in 2001 to 53% in 2006. For the first time, the ratio of owners has surpassed the renters in the Montreal area.

September 2007

The resale market for condominiums is still going strong with a 16% increase of sales in September 2007, compared to the same period last year. In total, 790 sales were recorded in the GMREB's MLS® system, in comparison with 682 for the same month in 2006. For its part, the average price of condominiums rose by 4%, reaching $213,000.

As for the resale of single-family homes, a slight 1% increase was recorded for September 2007, with 2,332 transactions compiled in the GMREB's MLS® system, compared to 2,309 in September 2006. The average sale price reached $232,000, a 5% rise from the $221,000 that was recorded for the same month last year.

 

--------------------------------------------------------------------

CONDOMINUM

--------------------------------------------------------------------

September 2007

--------------------------------------------------------------------

Administrative Region Average Price Variation

2006-2007

--------------------------------------------------------------------

Montreal $245,000 +3%

--------------------------------------------------------------------

Laval $190,000 +19%

--------------------------------------------------------------------

Monteregie $163,000 +7%

--------------------------------------------------------------------

Laurentians $188,000 +15%

--------------------------------------------------------------------

Lanaudiere $136,000 +11%

--------------------------------------------------------------------

 

--------------------------------------------------------------------

SINGLE-FAMILY

--------------------------------------------------------------------

September 2007

--------------------------------------------------------------------

Administrative Region Average Price Variation

2006-2007

--------------------------------------------------------------------

Montreal $362,000 +6%

--------------------------------------------------------------------

Laval $233,000 +1%

--------------------------------------------------------------------

Monteregie $225,000 +13%

--------------------------------------------------------------------

Laurentians $199,000 -5%

--------------------------------------------------------------------

Lanaudiere $176,000 +10%

--------------------------------------------------------------------

 

 

 

During the month of September 2007, the volume of sales recorded by the GMREB's MLS® system surpassed $800 million, which is 6% higher than the same month last year. Data compiled over the first nine months of the year indicate that the volume of sales surpassed $10 billion, a 19% increase compared to the volume recorded between January and September 2006.

About the Greater Montreal Real Estate Board

The Greater Montreal Real Estate Board is a non-profit organization that brings together most of the real estate brokers and agents who work in the Greater Montreal area. With more than 9,000 members, it is the second largest board in Canada. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives and maintain their predominance in the real estate industry.

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I did some comparing to the US housing market to ours.

 

Single-family home

Sacramento--Arden-Arcade--Roseville, CA (US$356,500) [-6.3%] - Price

Eugene-Springfield, OR [uS$240,900] (5.8%) - Percentage

 

Condo

Baltimore-Towson, MD (US$237,900) [1.5%] - Price

Trenton-Ewing, NJ [uS$268,500] (2.6%) - Percentage

 

Thing is, the numbers are from August.

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  • 2 months later...
  • Administrator

Greater Montreal Real Estate Board Statistics: The Resale Market Reaches New

Heights in 2007 With Close to 56,000 Transactions ILE-DES-SOEURS, QUEBEC--

(Marketwire - Jan. 14, 2008) - The residential resale market reached new heights

in 2007 with 55,776 transactions compiled on the Greater Montreal Real Estate

Board's (GMREB) MLS® system. Sales grew by 11% compared to 2006, which is the

highest raise in five years.

 

"The increase in transactions, combined with an inventory of properties for sale

similar to 2006, has contributed in maintaining a market that advantaged sellers

in 2007," says Michel Beausejour, FCA, Chief Executive Officer of the GMREB. "As

a consequence, price increases have been sustained, reaching in average 5% to 7%

depending on the type of property, which represents two to three times the level

of inflation."

 

At the geographic level, the increase in sales spread to all sectors and all

types of property. Furthermore, price increases were higher outside the Island

of Montreal, with Lanaudiere taking first place with an average price increase

reaching 13%.

 

"During the last few years, the strong residential real estate market has been

sustained by positive job creation, good consumer confidence in the economy and

historically low interest rates. As a result, the price of properties in Greater

Montreal has doubled since 1998," says Michel Beausejour.

 

For 2007, the volume of sales recorded in the GMREB's MLS® system reached close

to $13 billion, 19% more than in 2006.

 

Real Estate Snapshots

 

The condominium is mainly responsible for the resale market's growth,

outclassing the single-family home. In total, 12,251 sales were recorded in the

GMREB's MLS® system, compared to 10,216 in 2006, a 20% increase. The average

sale price of a condominium for its part rose by 5% in 2007, settling at

$211,000.

 

With a total of 35,728 transactions compiled in 2007 on the GMREB's MLS® system,

an 11% increased when compared to the 32,196 transactions recorded in 2006, the

single-family home remains the most popular type of property. The average sale

price reached $232,000, a 7% rise in comparison with $216,000 for 2006.

 

 

--------------------------------------------------------------

CONDOMINIUM 2007

--------------------------------------------------------------

Administrative Average Variation No. of Variation

Region Price 2006-2007 transactions 2006-2007

--------------------------------------------------------------

Montreal $241,000 +5% 7,338 +20%

--------------------------------------------------------------

Laval $175,000 +7% 861 +5%

--------------------------------------------------------------

Monteregie $166,000 +5% 2,628 +24%

--------------------------------------------------------------

Laurentians $181,000 0% 821 +21%

--------------------------------------------------------------

Lanaudiere $138,000 +6% 586 +28%

--------------------------------------------------------------

--------------------------------------------------------------

SINGLE-FAMILY 2007

--------------------------------------------------------------

Administrative Average Variation No. of Variation

Region Price 2006-2007 transactions 2006-2007

--------------------------------------------------------------

Montreal $357,000 +6% 5,848 +9%

--------------------------------------------------------------

Laval $236,000 +8% 3,627 +7%

--------------------------------------------------------------

Monteregie $216,000 +8% 12,819 +10

--------------------------------------------------------------

Laurentians $206,000 +7% 7,299 +13%

--------------------------------------------------------------

Lanaudiere $174,000 +10% 5,742 +12%

--------------------------------------------------------------

 

 

About the Greater Montreal Real Estate Board

The Greater Montreal Real Estate Board is a non-profit organization that brings

together most of the real estate brokers and agents who work in the Greater

Montreal area. With more than 9,000 members, it is the second largest board in

Canada. Its mission is to actively promote and protect its members' professional

and business interests in order for them to successfully meet their business

objectives and maintain their predominance in the real estate industry.

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Immobilier: Montréal reste un marché de vendeurs

 

14 janvier 2008 - 12h42

 

LaPresseAffaires.com

 

Jean-François Cloutier

 

L'intérêt des baby-boomers pour les condos ne se dément pas.

Photo Robert Skinner, La Presse

 

Moribond dans une bonne partie des Etats-Unis, le marché immobilier reste en pleine santé dans la grande région de Montréal.

 

 

elon les statistiques de la Chambre immobilière du Grand Montréal, qui se basent sur les transactions effectuées sur son système MLS, utilisé par les courtiers, la croissance des ventes a été de 11% en 2007, soit la plus forte hausse en cinq ans.

 

Le volume des ventes enregistrées a lui aussi progressé et atteignait près de 13 G$, en hausse de 19%.

 

«Cette augmentation du nombre de transactions, combinée à un inventaire de propriétés à vendre comparable à 2006, a contribué à maintenir un marché à l'avantage des vendeurs en 2007», indique Michel Beauséjour, directeur de la Chambre immobilière du Grand Montréal.

 

Click here to find out more!

 

«En conséquence, les hausses de prix sont demeurées soutenues, atteignant en moyenne 5 à 7 % selon le genre de propriété, c'est-à-dire de deux à trois fois le niveau de l'inflation.»

 

Depuis 1998, le prix des propriétés a doublé dans la grande région de Montréal, stimulé par la création d’emplois, la confiance des consommateurs, de même que des taux d’intérêt historiquement bas.

 

Toutes les régions en profitent

 

Toutes les régions faisant partie du Grand Montréal ont profité de cette croissance, la région de Lanaudière se démarquant avec des hausses de 13% du prix des propriétés entre 2006 et 2007.

 

Favorisé par des évolutions démographiques qui voient les baby-boomers délaisser progressivement la maison de banlieue pour une copropriété, à laquelle ils ajoutent souvent une maison de campagne, le condo est l’unité immobilière la plus en vogue dans le grand Montréal, avec une hausse du nombre de ventes de 20% à Montréal, de 24% en Montérégie et de 28% dans Lanaudière.

 

À Montréal, le prix des condos a grimpé en moyenne de 5% en 2007 pour atteindre 241 000$.

 

À Laval, il a atteint 175 000$ (+ 7%) et en Montérégie, 166 000$ (+ 6%).

 

Le marché de la résidence unifamiliale est porté lui par les enfants des baby-boomers.

 

La hausse du nombre de transactions est de l’ordre de 13% dans les Laurentides, de 10% en Montérégie et de 7% à Laval, mais la hausse des prix est plus substantielle : elle atteignait 8% en Montérégie (216 000$), 8% à Laval (236 000$) et 10% dans Lanaudière (174 000$).

 

Encore une bonne année en 2008

 

Michel Beauséjour s’attend encore à une bonne année en 2008 pour le marché immobilier montréalais : « Les taux d’intérêt, la création d’emplois et la confiance des consommateurs devraient continuer à pointer dans la bonne direction cette année, quoique peut-être un peu moins fortement qu’en 2007. »

 

«Il faudrait vraiment une récession sévère aux Etats-Unis pour ébranler l’économie canadienne, qui devrait sortir indemne d’un ralentissement économique moins important au sud de la frontière».

 

Selon lui, s’il y a eu un rattrapage certain depuis 10 ans dans le prix des résidences dans le Grand Montréal, il reste toutefois encore de l’espace pour des augmentations annuelles dépassant le niveau de l’inflation, Montréal restant un des grands marchés immobiliers les plus abordables en Amérique du Nord.

 

http://lapresseaffaires.cyberpresse.ca/article/20080114/LAINFORMER/80114115/5891/LAINFORMER01

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CB RICHARD ELLIS Q4 2007 :: MONTREAL OFFICE MARKET VIEW

______________________________________________________________________________________________________________________

 

“The market has transformed to become a landlord's market especially with the lack of available space in the Central Business District.”

 

The office market had an exceptional fourth quarter in terms of absorption and experienced a positive absorption of 938,581 SF for the Greater Montreal Area. The vacancy rate fell below 10% to 9.4% compared with 11.9% during the same period last year, thus a decrease of 2.6%. It wasprimarily Class "A" buildings in the Central Business District that enjoyed the most activity. The vacancy rate for Class ''A'' buildings in the Central Business District dropped 3.9% compared to the last quarter of 2006. This sector has experienced, during the last quarter of 2007, a positive absorption of 557,111 SF. This represents more than half of the 959,307 SF absorbed last year in that submarket. The Class "B" buildings in the Central Business District have also performed well this quarter with positive absorption of 150,781 SF for a grand total of 399,340 SF in 2007. The vacancy rate dropped from 11.9% last year to 9.6% at the end of 2007. In the Central Business District the average asking gross rent was surveyed to be $36.50 psf for Class "A" and "B" buildings combined, the highest level since the second quarter of 2005. An historical peak was also recorded for Class ''B'' buildings with an average asking gross rent of $24.40 psf, the highest level in the last ten years. Landlords have been very aggressive in the last quarter, which allowed several to find tenants to lease complete floors which had been on the market for several months. That was particularly the case for Class "AAA" buildings where major transactions occurred in the fourth quarter of 2007. The three Class "AAA" buildings experienced 249,461 SF of positive absorption. The vacancy rate dropped from 17.1% in the third quarter to 6.2 % during the last quarter. These three buildings experienced a total absorption of 340,041 SF in 2007, which represents 25% of the positive absorption recorded in 2007 in the Central Business District for Class "A" and "B" combined.

 

Class "A" buildings reached historically low vacancy rates in the Central Business District, at 4.9%, levels which have not been seen in Montreal in the last ten years. Class "B" buildings in the same sector have also recorded historical lows in vacancy rates, reaching 9.6%, which is a 1.5% decrease from the second quarter of 2007. The vacancy rate in the suburbs also recorded its lowest rate in ten years to stand at 14.1% for Class "A" and "B" buildings combined. The last quarter of 2007 was exceptional in terms of absorption mainly in the Central Business District where 707,892 SF was absorbed, which represents 38% of the total annual absorption for the Greater Montreal Area. Absorption in the last quarter of 2007 accounted for nearly half of the annual absorption in the suburbs for the whole year. During the last quarter, two buildings totalling 175,000 SF were delivered in the Laval and Midtown submarkets. Currently, two projects are in the construction phase, first in the Central Business District submarket with 100,000 SF and 71,500 SF underway in South Shore submarket. With vacancy rates so low in certain submarkets, 2008 should be a crucial year for announcements regarding construction projects to provide the market with new office space. There is still 840,000 SF under construction by Canderel for the Bell Campus on Nuns’ Island which should be delivered during the third quarter of 2008.Despite a drop in asking rates from $14.17 psf to $13.69 psf over the last year, the overall asking rates have been rising in all sub-markets in the Greater Montreal Area mainly due to lack of space. This trend is expected to continue in coming years if no new construction projects are undertaken.

 

With a market so tight, one would be inclined to believe that developers would step forward with the aim of providing a new building for the downtown area to relieve the pressure currently affecting the market. However, only one project will bring new space and that project will not be completed until the first quarter of 2009. This is the old Gazette building, which will beredeveloped into a multifunctional building that will include 100,000 SF of brand new office space. This space will be a part of the new Westin Hotel in the international district which is currently being developed by Atlific Hotels and Resorts. Four other projects are also proposed and could become reality in the next several years, but these projects will not start until developers reach a critical level of pre-leasing from anchor tenants. The list of projects includes 900 de Maisonneuve with SITQ and Hines, 701 University Street with Desjardins Sécurités Financières/Weloga and Magil Laurentienne, 1215 Philips Square with Canderel and finally Place de la Cité Internationale by Westcliff and The The Canapen Group with two towers totaling 753,200 SF, which could be completed within 15 months following the start of construction. In the suburbs, the situation has improved this year with positive absorption of 489,837 SF, compared to the 18,489 SF of negative absorption witnessed in 2006. The vacancy rate stands at 14.1% for all sectors compared with 15.5% in the last quarter of 2006. The vacancy rate is still high, most notably in the West and East Island submarkets. For the West Island submarket, the gross rent decreased from $25.09 psf recorded during the last quarter of 2006 to $24.11 psf during the current quarter. For the East Island submarket, the high rate can be explained by the presence of vacant space in the Olympic Stadium tower, which accounts for 313,000 SF of vacancy. The vacancy rate in the South Shore submarket continues to decline, reaching 4.0%. Several construction projects will commence in 2008. Only one project is currently in its implementation phase, with 72,500 SF of new space. IWP and F. Catania et Associes will start construction during the second quarter of 2008. This will bring fresh supply to a market that has experienced vacancy rates below 5.0% since the first quarter of 2007. Other submarkets remained stable.The market has transformed to become a landlord's market especially with the lack of available space in the Central Business District. In 2008, increases in net asking rates as well as an increase in operation costs are more than likely to occur.

 

The economies of Quebec and Montreal have remained relatively steady in 2007. Real GDP growth has occurred this year, with increases from 1.7% in 2006 to 2.0% in 2007 for the province and 1.6% in 2006 to 2.1% in 2007 for Montreal. The Conference Board of Canada predicts increases in GDP for Quebec and Montreal to 2.6% and 2.7% for 2008 respectively. Although employment decreased in December, Quebec's employment growth was stronger in 2007 than in 2006. This province's growth rate was above the national average, at 2.4%, the best in five years, as the unemployment rate hit a 33-year low.The manufacturing sector continues to lag, due to the increased job losses in 2007 and a high Canadian dollar. The high dollar has affected exports, energy costs and local companies abilities to compete on the international market. The anticipated gradual reduction in the value of the dollar through 2008 will help this sector recover from a few years of instability. Domestic demand in such service sectors as retail, insurance and finance and wholesale and retail trade, continue to be strong in Quebec, helping to offset the struggles of the manufacturing industry. Consumer spending continues to bolster the economy. Overall, the outlook for Montreal and Quebec in 2008 remains positive. An expected improvement in the manufacturing sector, due to a slowly decreasing dollar value and improved efficiencies, and continued strong growth in the service sector and retail trade, will maintain stability.

 

TOP MONTREAL LEASE TRANSACTIONS

______________________________________________________________________________________________________________________

 

Size (SF), Tenant, Address

113,775 SF PricewaterhouseCoopers 1250 René-Lévesque Blvd. West

100,000 SF PSP Investments 1250 René-Lévesque Blvd. West

49,798 SF Morris & MacKenzie Inc. 400 de Maisonneuve Blvd. West

49,961 SF BDO Dunwoody 1000 de la Gauchetière St. West

44,126 SF SNC Lavalin inc. 1801 McGill College Avenue

39,000 SF Canoe Inc. 800 Square Victoria

25,498 SF GMP Securities 1250 René-Lévesque Blvd. West

 

 

Complete report :: http://www.cbre.ca/EN/Our+Offices/Quebec/Montreal/

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