Is it still possible to become a landlord in a big city in Quebec with a budget of less than $200,000? Only one city still displays a decent number of possibilities.
Despite the revision of real estate prices over the past year, the major home sales platforms show a very limited number of options for those who have a limited budget to access property, observes a study published at the beginning of June by Point2, a publication specializing in real estate that covers trends in the sector and does various market studies.
Under $200,000, finding a rare pearl is almost impossible in Montreal, very difficult in the suburbs, and around 1% in the smallest towns. The phenomenon is observed everywhere in Canada, except in the Prairies and the Maritimes, where more than 10% of the supply is still in this price range.
In the province, all hope is not lost, but we will have to head for the capital. Quebec City has the highest number of homes under $200,000, with nearly 10% of the offer in the residential sector, compared to 1.89% in Gatineau, 0.86 % in Longueuil and 0.15% in Laval. The price of properties there is also the most affordable with an average of just over $310,000, one of the best in Canada.
Although the island has the highest number of properties for sale (4,900), only 19 (0.27%) were listed for less than $200,000 at the time the study was conducted.
An overview of the platforms of Centris (6), Du Proprio (0), Kijiji (0) and Publimaison (0) this week confirms this portrait with an even more disappointing result. It’s not 15, but 6 properties that were displayed under $200,000 on the island of Montreal, namely a mobile home on rented land, two studios and three small condos.