New condo projects on De La Montagne. The old houses next to them look tiny. The question is : who's buying all these condos?
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Nouveaux projets de condos sur De La Montagne. Les vieilles maisons à côté d'eux sont minuscules. La question importante est: qui achète tous ces condos?
The balconies look like they may actually be usable (i.e. they're wide enough to actually have tables and chairs out there without knocking knees).
ReplyDeleteHaving said that, I wonder how many will simply be used as storage areas for bikes... .
Personally, I wouldn't bother paying extra $$ for an exposed balcony higher that the 7th or 8th floor unless I have a spectacular view. The higher you go, the more wind so that takes care of that for growing a garden or sitting comfortably outside.
Folks don't seem to build apartment buildings anymore. Since the city's population is growing, they have to live somewhere...and viola condos rented out by investors. The 1% have to park their money somewhere.
ReplyDeleteIf Montreal is anything like Vancouver, all these new condos are being bought by the mainland Chinese. They are buying up all the property in Vancouver as investments or to launder dirty money and get it out of China. In the short term its good for the economy in terms of construction jobs. However, in the long term it is very destructive to a city as it prices locals out of their city and creates dead zones. I'm sure many of these condos will sit empty for years as they do here in Vancouver.
ReplyDeleteLiving in Vancouver for the last 14 years, I see this point. But is Montreal even a haven for off-shore ownership that would be anything but a minor blip in the real estate statistics?
DeleteI'm not being facetious, btw. I just don't know current Montreal real estate... .
There are already many "dead zones" in Montreal.
DeleteMontréal a multiplié pratiquement par 6 sa croissance démographique moyenne depuis les années 2001-2006, selon les statistiques qu'on a aujourd'hui. Il y a quand même une certaine croissance dans le marché de l'habitation, et l'offre du centre-ville est une nouvelle offre, un nouveau style de vie. C'est certain que les investissements et la spéculation soutiennent ces constructions, mais il y a aussi un marché légitime, simple question de chiffres.
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