The year 2025 promises to be (still) difficult for tenants in Quebec, while the price of apartments should continue to rise. At least that’s what emerges from a recent economic analysis from Desjardins and here’s what you can expect for your rent payments very soon.
In its latest Zoom on housing, the financial institution highlights the main reasons for this marked increase expected next year. More precisely, Desjardins economists point to the “persistent imbalance” between supply and demand for rental housing. “Even though the construction of rental housing has accelerated since the start of 2024, rents continue to increase sharply,” the report notes.
There is therefore a good chance that you will have to pay even more for your rent, especially with the cost of living which continues to increase.
What you need to know: “The recommendations of the TAL [Tribunal administratif du logement] for the year 2025 have not yet been revealed, but part of its calculation is based on the rent component of the consumer price index (CPI), the annual increase of which continues to be rapid, at 10 .0% in August 2024,” specifies the Desjardins report.
Economists also point out that rent prices experienced “an unprecedented jump in more than 30 years” last year in buildings older than five years. Note that the TAL had recommended an increase in apartments of 4% for unheated accommodation.
What’s coming: This surge in prices should, however, calm down, again according to the Desjardins analysis. If the increase in rents is expected to be around 9% for 2024, it should slow down slightly to reach almost 5% in 2025. “In Quebec, 40% of households are renters and several of them are still experiencing large increases in rent. rent,” underlines the report.
In case you didn’t know: You have to earn at least $59,280 per year to afford an unfurnished 3 ½ in Montreal, according to the most recent data from the real estate rental platform liv.rent. However, this salary may be lower depending on the average price of this type of apartment in certain areas of the metropolis – you can consult our article on this subject here.
