Georges St-Pierre has just experienced a real estate disappointment by selling his house in Saint-Lambert for 15% less than the price he hoped for.
According to our reliable information, since I live a few minutes walk from this house, it is clear that this transaction was made at a reduced price compared to other similar houses in this municipality, recognized as one of the most expensive in Quebec both for house prices and for municipal taxes.
I spoke to an influential real estate agent in Saint-Lambert and he confirmed that GSP’s house was sold at a discount. The only possible explanation was that GSP was in a hurry to sell it, because he would never have accepted that price.
Georges St-Pierre had put his bungalow at 406, rue Saint-Thomas up for sale. This residence, with a surface area of 242.7 m², includes five bedrooms, three bathrooms, a double garage, as well as a courtyard equipped with an in-ground swimming pool and a spa.
Built in 1971 on a plot of 752.5 m², the house was completely renovated and extended in 2017, shortly after GSP became the owner.
Despite these improvements, the house, initially listed for $2,239,000, ultimately sold for $1,925,000, or 14.02% less than the listed price.
Even the Journal de Montréal tackles the subject this morning and admits that St-Pierre got over it a little quickly. There is someone somewhere who took advantage of their real estate agent’s incompetence.
In comparison, other Saint-Lambert homes around GSP generally sell for higher prices, reflecting the high value and demand in this popular South Shore municipality, just 10-15 minutes from Old Montreal and the City Center.
Don’t think GSP made a huge profit because he bought this house in 2016 for $1 million in 2016. The renovations he did on the house far exceed the $925,000 capital gain that he won. When he bought the house, everything had to be redone.
Not to mention all the municipal taxes he paid, while Saint-Lambert is one of the places in Quebec where taxes are the highest in the entire province.
The municipal tax bill for this property is $12,188 in 2024 and new buyers will have to pay a transfer tax of $49,682.50.
This is not the first time that a Quebec personality has encountered difficulties in the real estate sector in the last year.
Before GSP, Patrick Roy, the former Montreal Canadiens goalie, also experienced a similar situation with the sale of his residence in Lac Beauport.
Patrick Roy sold his house for $5,775,000, and his buyers then tried to resell it for $11.9 million.
Ultimately the house sold for $7.1 million, proving that Roy’s realtor was very lazy on this matter.
Bottom line? Just because you’re rich and famous… doesn’t mean you have a good real estate agent. These deals are a perfect illustration of the challenges and contingencies that even the most famous people can face when it comes to selling their properties.
For Georges St-Pierre, as for Patrick Roy before him, these experiences are reminders of the realities of the real estate market, even in regions as popular as Saint-Lambert and Lac Beauport.
The reality of the real estate market remains merciless, even for those accustomed to victories and fame.
The Journal de Montréal reported on the last ten “millionaire” real estate transactions. And for the first time in his life, GSP is at the bottom of the ladder.
70, Rue Natura, Bromont $4,400,000
50, Rue Natura, Bromont $4,400,000
7600, Avenue Dieppe, Mont-Royal 4 000 000 $
Terrain, Place Kathleen-Laing, Dorval 2 291 802 $
711, Rue du Bosquet, Boucherville $2,150,000
32, Chemin Redmond, Saint-Gabriel-de-Valcartier $2,056,410
25, Rue Lussier, Shefford $1,950,000
874, Route 263, Lambton 1 937 000 $
48, Terrasse Bellerive, Lavaltrie $1,850,000
701, Chemin du Lac-Millette, Saint-Sauveur $1,375,000 (credit: Journal de Montréal)
