As soon as a vacant plot of land becomes available in the Montreal region, property developers engage in the construction of condominiums within price ranges that should satisfy the most demanding of buyers. Quebecers continue to opt more and more for row houses, semidetached houses and condos.
The condo-formula pleases elderly people who sometimes sell their one-family home, to look for a place which does not require any maintenance anymore, reparation work, etc. They only want to enjoy life more, and they are ready to pay the expense for the maintenance of their new habitation. Then there are also young couples who will prefer buying a condo instead of a one-family home because its costs of acquisition are more accessible.
The figures of the CMHC concerning new housing starts regularly show us that construction has perhaps diminished in the different components such as one-family homes, but the contractors are still interested in the condo-formula.
Condos are still in the favour of buyers in the region of Montreal since many years, but this attraction has spread to the different cities of Quebec.
Nevertheless, buyers of condos are still invited by the professionals to inform themselves well before making a choice, by carefully verifying the declaration of co-ownership, the condo’s expenses, the cost and benefit history of the project, for a few years, if it exists.