Record Number of Vacation Properties Sold in 2017
Based on the Centris® database, the QFREB estimates that 3,921 vacation properties were sold in Québec in 2017 in selected cities of the province's six administrative regions. This represents a 5 per cent increase compared to 2016, the fourth consecutive annual increase in vacation property sales and a new sales record. By property category, 3,354 single-family vacation properties and 567 condominium vacation properties changed hands in 2017, which represent sales increases of 3 per cent and 25 per cent, respectively.
Areas where vacation properties are becoming increasingly popular
The real estate markets in the areas of Capitale-Nationale and Laurentides were particularly active in 2017 in terms of vacation property sales, as transactions jumped by 17 per cent and 11 per cent, respectively. Vacation properties in Estrie also posted an impressive increase, at 6 per cent. In fact, these three administrative regions registered new vacation property sales records in 2017.
As for the areas of Lanaudière and Outaouais, the number of vacation property transactions decreased in 2017, by 4 per cent and 3 per cent respectively, after two years of strong increases. Finally, the vacation property market in the Montérégie area was virtually unchanged compared to 2016.
Read the full text of the Word From the Economist to learn more about the 2017 vacation property real estate market in Québec.
∗Six administrative regions examined (Capitale-Nationale, Estrie, Lanaudière, Laurentides, Montérégie, Outaouais), certain urban municipalities have been excluded.