Montreal is a great place to buy investment property and commercial real estate
Montreal ranks 5th in North America for job growth between 2000 and 2006, and 4th for high-technology job growth.
Montreal is the economic heart of the province of Quebec and one of Canada’s major industrial centers. In recent years, Montreal’s economy has been powered by a radical shift of its industrial structure to that of a knowledge-based economy. This transition has had a profound effect on the Montreal region, the hub for most of Quebec’s high-tech firms, by attracting many telecommunications, multimedia, pharmaceuticals, biotech and computer services companies.
According to the “Greater Montreal Attractiveness Indicators”, published by Montréal International, Montreal ranks 1st in North America for the competitiveness of overall business operating costs, despite the rising value of the Canadian dollar. Particularly in the R&D sector, where generous tax incentives are offered.
Montreal commercial real estate values continue to climb. However opportunities still exist at prices considered inexpensive by Canadian standards.
According to the 3rd quarter 2007 Knowledge Report of Colliers International, the average commercial rental rate in downtown Montreal was $12.72 per Sq. Ft. In suburban areas the average price was $11.48 per Sq. Ft. They forecast that prices are not likely to rise significantly in the next months.
