2023-08-05 12:21:03
The real estate market is picking up once more in Quebec, despite the still high interest rates.
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This resumption of activities is particularly notable in Montreal and the greater Quebec City region.
Indeed, the number of transactions carried out by brokers increased by 2% in July compared to last year.
However, there will be “no significant recovery,” predicts Charles Brant, director of the market analysis service of the Professional Association of Quebec Real Estate Brokers (APCIQ).
This is a market that is “always favorable to sellers”, according to him.
The expert believes that this increase is attributable in particular to an increase in immigration.
Also, “buyers anticipate that interest rates will remain at high levels, if not increase further, according to the perspective given by the Bank of Canada in its last intervention,” said Mr. Brant.
“So some are taking the opportunity to return to the market with their guaranteed mortgage rate,” he adds.
Watch the full interview in the video above.
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