Despite a price increase, plexes are all the rage among property buyers

Despite a price increase, plexes are all the rage among property buyers
Despite a price increase, plexes are all the rage among property buyers

Duplexes and triplexes are increasingly popular with Quebecers looking to buy a property, whether in Greater Montreal or in the Quebec City region, according to recent data from the Quebec Professional Association of Real Estate Brokers (QPAREB).

• Read also: Here are all the costs to consider before buying a property

Plex sales increased by 30% between June 2023 and 2024 in the metropolitan area, much more than those of single-family homes (+4%) and condominiums (+4%) in the same period.

In Quebec, transactions for plexes jumped by 24% in one year, compared to a 3% increase for single-family homes and a 1% decrease for condominiums.

And the attraction is not caused by a drop in prices since they have actually increased. In Greater Montreal, the median price for a plex is posted at $777,000 in June 2024, or 7% more than in 2023. In Quebec City, it is around $458,500, which represents an increase of 13%.

Overall, 3,830 residential sales took place in June in the Montreal census metropolitan area (CMA) and 761 in the Quebec City area.

Buyers focused on looking for a new property on the Island of Montreal, where sales increased by 13%, followed by the Vaudreuil-Soulanges sector (+9%), Saint-Jean-sur-Richelieu and the North Shore of Montreal (+5%).

Transactions were also more numerous on the South Shore of Quebec (+18%), unlike other sectors where a decrease was recorded on the northern periphery (-3%) and no variation was noted in the Quebec agglomeration.

-

-

PREV What we know about the “treasure” of almost 2 kg brought back to Earth from the hidden side of the Moon
NEXT “I risk cessation of payments”: panic in training organizations that the State no longer reimburses