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Montreal is one of the most vibrant and cosmopolitan cities of Canada.

The wide array of investment options are present, and the real estate sector in the city is buoyant and thriving. Housing costs in this city are very reasonable,and investment analysts say it's worth pouring in your money here, as you'll be investing and living in one of the most dynamic cities within Canada. Many individuals have found satisfaction both in living and investing in the city .

The real estate market is ripe with opportunity for any real estate investor with the money to pour in. Like all cities, there are areas that are less expensive than others, and some neighborhoods that have housing prices that start out of reach for the average real estate buyer. Montreal is best known for its cosmopolitan restaurants, shopping and boutique hotels, and encompasses a larger region that is home to about 3.7 million residents.

The city's diverse economy, which includes a tourism industry that benefits from the city's European flair and a strong housing market, has helped offset the losses brought on by the slowdown of the manufacturing sector,and the effect of the current credit and housing crunch in the United States.

Montreal Has A Strong And Vibrant Economy

Montreal is an important center of commerce, industry, culture, finance, and world affairs. Major industries include aerospace, electronic goods, pharmaceuticals, printed goods, software engineering, telecommunications, textile and apparel manufacturing, tobacco and transportation.

The service sector is also strong and includes civil, mechanical and process engineering, finance, higher education, and research and development. In 2002, the city ranked as 4th largest center in North America in terms of aerospace jobs

The City's Property Market Remains Viable

According to recent data from the Canada Mortgage and Housing Corporation says Montreal's booming real estate market has reached its peak. Housing analysts are forecasting the local property market can't get any hotter, and it will continue to be robust despite the slowdown, according to the CMHC.

The industry mortgage group further states that housing starts were at their highest level since the 1980s, and prices for single family homes increased by an average of 14 percent.

"We should see increases in supply, more choice, that's one thing," notes the CMHC. "Probably transactions will go down a bit., and prices should continue to increase, but not drastically." the CMHC also forecasts that the upswing in immigration to Quebec and continuing demand for condominiums will keep the market strong.

Analysts Express Caution in Condo Construction

The average price for existing condominiums in the city continues to rise but at a slower and slower pace. The price of a condo in the metropolitan area should reach $181,000 in 2004 -- an increase of 10 per cent, and $190,000 in 2007 -- an increase of five per cent, CMHC studies show. The Canadian Housing Corporation however points out that demand for condominiums has started to slow since the beginning of the summer, which means an inventory of more completed, but unoccupied units.

Overall, however, the CMHC stresses that the number of unsold and unoccupied condo units will not pose a severe problem with regards to creating a severe glut in the supply of housing units, and forecasts an improved performance for the housing sector in 2008.

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