The sale of high-end residences in Downtown Montreal is gaining a lot of momentum as of late. Sales for condominium units and serviced suites have more than doubled from 2016, making experts excited about all the possibilities such trends can bring. After years of stagnating, this upsurge in demand for upscale housing is certainly a welcome change.
Despite this fortunate turn of events, there are still a few naysayers who think that the local luxury housing market just got lucky. While the recent changes in real estate tax regulations in Toronto and Vancouver may have had an effect on the sales increase of properties in Montreal, this isn’t the only reason why the luxury residences in the area are selling well.
Montreal’s deluxe properties have so much to offer to local and foreign investors. These are the very reasons why they stand out in the local housing market and why they’re selling rather well. Interested in what these reasons are? Here are three of the best ones:
It can be said that high-end residences are the pinnacle of urban living because not much else can beat their central locations. Most of the finest upscale properties in Montreal are found on the equally extravagant Golden Square Mile. Not only is this neighborhood situated right next to where everything happens downtown, but it’s also one of the most historically affluent sections in the city. These posh suites and serviced apartments are carrying on the heritage of the area by opening their doors to more wealthy residents.
Besides its upscale nature, the downtown location of these deluxe properties will also put you in one of the most beautiful neighborhoods in the city. The Golden Square Mile still has a few of the mansions built during its heyday, giving it a classic elegance that’s hard to find elsewhere in the world.
Another good reason why upscale residences are selling so well is the abundance of options available. There has been an overwhelming development done to downtown Montreal in the past few years, as entrepreneurs rush in to tap the growing economy of the city. The high number of structures being built alarmed a few industry experts at some point. They even thought that the market will be oversaturated after their completion of all these complexes.
Today, a few years after someone predicted the downturn of the real estate demands for Montreal, it’s safe to say that things took an entirely different direction. What they thought would cause a crisis is now contributing greatly to the local economy.
One of the most notable things about the high-end residences in Downtown Montreal is the fact that they’re created by some of the biggest and most revered names in the hospitality industry. With the Ritz-Carlton being a pioneer in the city, it shouldn’t really come as a surprise that they’re among the first to make the subtle shift in extending their 5-star hospitality to those who want to stay for good in the hotel. The Four Seasons is also about to follow suit as its hotel and residences are now under construction.
Aside from the full-service, the amenities are also worth signing up for. Living in these upscale residences will provide easy access to some of the best fitness and recreation centers. Security and privacy are highly valued and a highly-trained staff will always be available to provide assistance. A swanky restaurant and bar will also be available, making things more convenient for residents.
If there’s any doubt about Montreal’s swanky residences being well worth the investment, these three reasons should dispel any hesitations about their great offers. These properties can definitely be the best picks in the local housing market and they will continue to be such as long as the property managers are willing to go above and beyond for their clients.