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The State Of Real Estate Strength In Montreal
By Vanessa A. Doctor

With the United States experiencing a worsening sub-prime housing crisis, and its economy showing some signs of slowing down, a lot of prospective investors in the North American property market are likely getting a bit anxious about the future.

However, many see the potential of investing in the real estate market of Canada, because of its steady investment and tourism potentials. As it seems, America's ongoing concerns with the housing and credit markets does not seem to be exacting a heavy and significant toll on its neighbor to the north.

Quick Facts About Montreal

Montreal is the second-largest city in Canada, and is the largest metropolitan area in the province of Quebec. It was formerly the largest city in Canada, and it is now known as one of the largest French-speaking cities in the world along with Paris and Kinshasa.

The population of the Montreal Metropolitan Area, which is also known as the Greater Montreal Area, was 3,635,571 at the same 2006 census. In 2007, Montreal won the distinction as being ranked the 10th cleanest city in the world. Montreal is a vital commercial, industrial, cultural, financial, and world affairs center. The city's major industries include aerospace, pharmaceuticals, printed goods, electronics, software engineering, telecommunications, textile and apparel manufacturing, transportation and tobacco.

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

Canada's Property Sector Remains Financially Sound

In fact Canada's continued property market success is a direct reflection of the strength of the nation's economy. Canada with its wealthy energy sector, Canada with its affluent city centers, and Canada with its strong levels of inward migration is fuelling a booming real estate cycle with no end in sight for this particular period of property price appreciation meaning that now could well be an exceptional time to move into property in Canada.

According to the Canadian Real Estate Association, in spite of the third quarter dip, the country is heading towards its best year ever. And even if it falls short, the market hasn't hit a serious slump in any manner.

With tourism in Canada on a steady upswing and prices here still relatively low in comparison to other parts of the world, the market remains of interest to foreign investors. Canada as a whole holds a 2.9% share of the world's total tourism demand, according to data from the World Travel & Tourism Council. The country is expected to attain a potential tourism growth rate of about 4.7% per annum until 2017.

Montreal's Property Markets Are Thriving

Montreal right now is considered as the best city for investing in real estate in North America, drawing Asian, Middle East and European investors. Montreal has a target of 30% of new residential construction for low or modest income households. The city has an adequate number of undeveloped land that could represent some 15,000 new housing units.

http://www.montrealrealtyfinder.com - Montreal Real Estate

Vanessa A. Doctor from Jump2Top - SEO Company