Invest in real estate in Quebec
You’ve heard it dozens of times: investing in real estate is worth gold. However, the stone does not have the same value and does not produce the same yield depending on where it is. In Quebec, for example, investing in real estate offers many advantages and makes it possible to build a solid estate on fairly easy terms. Let us explain the why and how.
Invest in real estate in Quebec, a good deal
This is the latest trend: Québec is an attractive city, dynamic, where life is good and conducive to real estate investments. Indeed, the investment proves to be cheaper to buy and more profitable in the long term, whatever the type of property (single-family property, condominium or plex). All signals are green to ensure a good deal. According to the Québec Land Register, the real estate market in the greater Québec City met its steady growth since 2017, mainly due to the economic recovery and the low unemployment rate.
Similarly, the Québec residential ranking, compiled by the FICQ, which ranks Québec’s most dynamic cities and regions in terms of residential real estate sales, shows increases of up to 24% over the previous years. There is also a positive evolution of the real estate market which is rich and well diversified with the regular construction of new programs and condos. It is true that opting for the purchase of new buildings is attractive, given the quality of services offered and the multitude of services nearby.
Prices are more or less reasonable: the median price of homes has increased by 4% to about $ 269,000 while the median price of condominiums has risen slightly (4%) to settle around $ 195,000.
Easy investment conditions
The Quebec City region allows non-residents who wish to make a real estate investment, to borrow easily, unlike the case of the United States. Thus, even for non-residents in Quebec, the initial contribution requested is around 30%, the Canadian dollar is fairly low and the banking procedure is relatively simple. In addition, notary fees amount to $ 1,000 or $ 1,500 maximum in Quebec, unlike the painful 7% of the amount of the sale in France.
Even though there has been a recent rise in the purchase price of real estate in Quebec, a reflection of the attractiveness of the region and the craze of buyers to come and do good business, prices are still reasonable.
In addition to prices, taxation is also attractive. Under an agreement signed between France and Canada, the French avoid double taxation on their property income through a system of tax credits obtained in France.
Of course, the Canadian real estate market has differences that can be easily understood with the advice of an expert in this field. There is nothing better than to call on a BARNES expert to be sure of making a profitable investment in the best conditions.
It’s time to invest in Quebec so do not be late!