In 2019 there will be a few technological movements that will shape the trends of Canadian real estate moving forward.
Today many people live and work from increasingly more remote locations. How will the real estate market adapt? New technology being adopted such as VR, AI and Autonomous vehicles will also have an effect.
Economic uncertainty has pushed many industries to address affordability including real estate and construction sectors. Lastly an increasingly environmentally conscious property owner along with higher standards help create sustainable trends when it comes to energy consumption and in new real estate developments.
The West Island is well known for its single-family home neighbourhoods however, with the impending expansion of the Réseau Express Métropolitain (REM) stations along Highway 40, the time has come to compromise and accept that some central transit-oriented development projects are coming.
In the fall of 2016 Mayor Georges Bourelle from Beaconsfield was interviewed by the West Island Gazette where he summed up there would be backlash to any potential high-density development around future REM stations.
“When your neighbourhood is about single-family dwellings, people get alarmed with the concept of densification,” he said.
For years now, real estate prices in cities like Toronto and Vancouver have been labelled expensive as they continue to rapidly rise in value each year, however, for the second straight quarter, the price of residential real estate in Montreal has risen at a faster rate than in Toronto and Vancouver.
This increase is based on statistics generated by Royal LePage House Price Survey analysing the fourth quarter of 2018. The analysis was determined by taking the total cost of purchasing a home based on the average value of bungalows, two-storey houses and condo. Based on this information, there was an increase of 4.1% during the last 3 months of 2018 when...