Quebec City Home Prices Rise 1.1%

Construction workers Tarl Frigon (top) and Zac Abbott of Hunters' Construction frame a house for Crawford Homes Ltd. in Regina. Photograph by: Roy Antal, Leader-Post, Leader-Post; Financial Post

New Home Prices Rise 0.3 Per Cent In October -- Montreal Gazette

OTTAWA — Prices for new homes in Canada rose 0.3 per cent in October after a 0.5 per cent increase the previous month, Statistics Canada said Friday.

It was the fourth straight monthly gain in the federal agency’s new-home price index, although the increase was slightly below the 0.4 per cent many economists had expected.

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My Comment: Montreal was also hot.

Canadian Real Estate A World 'Bargain': Survey

Vancouver is home to the most expensive 4-bedroom, single-family homes in Canada with an average price of $1.26 million, says Coldwell Banker. (Canadian Press)

From The CBC:

Real estate in Canada is a relative bargain compared to homes in many other parts of the world, according to a global price survey by Coldwell Banker.

The survey also found typical executive homes were still affordable in many Canadian cities.

The real estate firm looks at the average price for a 2,200 square-foot, single-family home with about four bedrooms and 2½ baths — what it calls an "aspirational" home. This is the type of home that middle-management corporate transferees and move-up buyers typically look for, it said.

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City Will Revamp Place d'Armes, Downtown Squares

Place D'Armes

The Montreal Gazette:

Dorchester Square, Place du Canada get facelift as part of $20-million plan.

The city has earmarked $20 million for the redesign of Place d'Armes in Old Montreal and the restoration of Dorchester Square and Place du Canada this year.

Cardinal Hardy/Teknika-HBA - the urban landscape architects responsible for the recent reconfiguration of Norman Bethune Square near Concordia University and the design of Place d'Youville in Old Montreal - have begun work on plans to revamp the two public spaces.

An estimated $14 million will be spent on the Place d'Armes redesign.

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Montreal Renews First Time Home Buyers Program

From CTV:

If you are a young couple with or without children and looking to buy your first home or condo, the city of Montreal has a deal for you.

The city is renewing its grant program that will help young couples and families buy a home for the first time.

While the program has been in place since 2003, it is now increasing the maximum allowable cost of a home for which it will help pay.

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Exclusive: Griffintown Project Dealt Blow

From Global Quebec:

MONTREAL - The stalled $1.3-billion Griffintown redevelopment project has taken another setback.

Montreal city hall is to announce in the coming days that it will remove the reserves the city placed on properties in the neighbourhood south of downtown last year to make way for the project by developer Devimco Inc., building owners in the area told The Gazette today.

Devimco began signing options to purchase in the area in 2005, but has now let most of those promises to buy lapse.

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Resale Housing Market Drops 2% In Montreal

The Montreal Gazette:

Montreal's resale housing market declined two per cent in 2008, the Greater Montreal Real Estate Board said yesterday. For the first nine months of the year, 8,463 properties changed hands in the Montreal region. Property listings increased 12 per cent compared with the same period a year ago. The average selling price increase was five per cent this past quarter, vs. four per cent in the second quarter and six per cent in the first quarter. "Despite the rise in listings observed over the last two quarters, the high demand is such that the resale market remains favourable to sellers," Michel Beausejour, the board's CEO, said.

$52 Million Mall Reno In Works For Montreal

From Toronto Star:

Cadillac Fairview has announced a $52 million investment to "bring elegance and luxury to the shopping experience" at Carrefour Laval in suburban Montreal.

The renovation, starting immediately and set for completion by the fall of 2009, includes relocating the shopping centre's food courts into a new 1,200-seat complex, adding more stores and "harmonizing the common areas with the garden court."

Cadillac Fairview, owned by the Ontario Teachers' Pension Plan, said yesterday the upgrading of the 34-year-old mall is "inspired by the urban trend seen in shopping centres of leading international cities."

Renovations will include new flooring, ceilings, lighting and soft-seating areas, with construction planned to minimize inconvenience for shoppers.

Other properties in Cadillac Fairview's $16 billion portfolio include the Toronto-Dominion Centre and Eaton Centre in Toronto.

For Sale In ... Montreal

This one-bedroom penthouse apartment in Montreal has industrial details and panoramic views of the city.

FromThe New York Times:

A one-bedroom penthouse apartment with industrial details and panoramic views of Montreal

HOW MUCH

1,995,000 Canadian dollars ($1,866,400)

SETTING

This 10-story former factory was built in 1912 in the Paper Mill District near the financial district and Old Montreal. It shares the top floor with two other apartments, and overlooks several museums, the old port and the Chinatown neighborhood.

Montreal is situated on several islands at the point where the Saint Lawrence and Ottawa rivers merge. It is about 325 miles north of New York City. Montreal is known internationally for its architecture and design, its strong arts scene and its vibrant gay community.

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