“Currently, the market is on our side […] It’s trendy to want to live in Montreal, “says ★ PATRICE GROLEAU, owner of McGILL IMMOBILIER and ENGEL & VÖLKERS, speaking about the luxury real estate market in Montreal. Many wealthy investors from all over the world, but also from English Canada, are increasingly coming to live in the metropolis. “The situation in Montreal is unreal. I have never seen so many cranes. We are really experiencing a real estate revolution right now in Montreal, “notes Patrice Groleau.
Canada has just been named the best country in the world for quality of life* and 3rd for Education (Montreal # 1 in cities). Montreal is no stranger to this reality. Indeed the Island of Montreal (yes Montreal is an island we tend to forget) faces a perfect alignment of the stars live the most prolific real estate year in its history for a variety of reasons. Everything is green, and it may be the first time in its history. In 2018, in major Canadian cities, such as Montreal and Ottawa, there has been no price drop and this is not expected in 2019. Even if a slight decrease occurred, it would remain a record year.
# 1 Montréal is experiencing natural densification due to the scarcity of land because it is an island limited in the possibility of spreading out indefinitely like its neighbour Toronto and its GTA (Greater Toronto Area). The South Shore, North Shore and West Island sectors are also experiencing an unprecedented real estate boom with a strengthening of the protection of agricultural land, creating a scarcity building land.
# 2 Montreal is the second-largest University-city in America after Boston, although student-to-student ratios vary from one study to another, sometimes even placing Montreal at the top of the list. Our universities have made good marks in the world rankings of the best universities. We think of the sprawling McGill University (which grows its campus year after year), University of Montreal, HEC Montréal, École Polytechnique de Montréal, Concordia University, University of Quebec at Montreal, École de technologie supérieure and the rest of the province that has no reason to envy the metropolis. Université Laval, University of Sherbrooke, Bishop’s University, National School of Public Administration, National Institute of Scientific Research to name a few. The number of foreign students attending our universities is exploding all over the province and has a direct impact on real estate rental and sales. More and more students remain in the province at the end of their studies as well. We also have really good pubic, semi-private and private elementary et high schools and we see a realestate boom surrounding these schools.
# 3 The unemployment rate is at its lowest in 40 years! Although this rate is partially structural with many retirements, the fact remains that it is linked to unprecedented economic strength.
# 4 The government’s decision to partially abandon aeronautics to realign itself with artificial intelligence has been a wise decision. The biggest brains in the field come in flocks because the companies notice, besides the help of subsidies, the quality of high-level manpower. This new image also enhances the perception of our universities on the world stage.
# 5 We are possibly the most “Scandinavian” city in America… Norway, Denmark, Sweden and Finland are still considered as model countries. The Scandinavian countries are popular with their way of rethinking Education, Architecture, Energy production, etc. Basically we are a giant Scandinavian country and Montreal is at the center of this reality. Depending on weather conditions, I believe that in winter we work more diligently, while in summer we are more relaxed. This mix of seasons gives different tones in the workplace and education. We have also developed a capitalist equilibrium and socialist principles that seem to be our strength. It is not perfect but we are at the top of the pack at this level, on the planet. Let’s not forget, it’s the economy that is the leading locomotive that pulls all social programs up.
# 6 It is surprising to hear foreign buyers talk about Political Stability and Economic Stability but we must not look very far, even Europe that was thought to be immune, experiences difficulties, and our neighbours to the south only needed a President (Trump) to completely destabilize the political elite; however, the US economy is doing well for the moment. Let’s see what happens at a later date…
# 7 Social balance, schools, health, many foreign buyers and immigrants fleeing totalitarian regimes, communist or corrupt democracies. They find in us a social balance, affordable schooling and access to universal and free healthcare.
# 8 Ecology, air quality, food, drinking water, all these realities we take for granted, are non-existent in many cities in Africa. (Water tables and streams are dry, making running water in homes impossible) What countries do these people think of when they look at their relocation options? Canada. Chinese buyers also make it a priority in their decisions to flee their polluted cities. We are an Eldorado for the future of their children
# 9 The largest producer of hydroelectricity which is possibly the # 1 energy of the next decades. We have low-cost energy, which leaves more money in our pockets, and it’s a great motivation for companies that need this energy. The extent of natural resources, spread over an immense territory, is an economic windfall shared by a small number. Still, you have to be good at managing it, but I am optimistic for the future.
# 10 Densification… The small population distribution entails significant costs related to urban sprawl, roads, hospitals, services, etc. But Montreal will not avoid the universal urbanization curve. We will achieve densification more efficiently, like other large cities, in the coming years, which will result in savings and an increase in the quality of services. We can already see it with our two super hospitals, the new Champlain Bridge, the REM (Réseau Express Métropolitain) and so on.
# 11 Culture, Dining, Nightlife, Festivals, the most Latin American city, respect for LGBT communities, it is rare that we find all these qualities in a single city in America; we are different from other cities which is our strength and appeal.
# 12 Immigration will be an important lever in 2019, whether for the workforce, students or refugees, we have what it takes to welcome everyone. Do you know that we have one of the largest immigrant community graduate numbers in the world, and it will be a challenge to tie labour needs to this international expertise. We have a Francophile reality that is rather to our advantage despite what we might believe. We become natural communicating vessels for countries such as France, Belgium, and Switzerland but also for francophone Maghreb and Africa. Obviously, the Chinese fell in love with Montreal but also, recently, with the rest of the province. It is a mathematical reality of number. Just as we see more and more Indians, who are buyers in a process of migration or immobilization of capital. We also have an overrepresentation of the countries of Eastern Europe, the Middle East and our neighbours to the South. We must not forget the value of our dollar, which is becoming more than attractive to the wealthy people on the planet in addition to a stroke of the most reasonable life.
I am perhaps optimistic but I remain convinced that I am realistic and that we live in the best era of this world-class metropolis, that is Montreal.
Welcome to the Canadian Dream, but especially to the dream of Quebec and the dream of Montrealers!
*Source: The 2019 Best Countries rankings, formed in partnership with BAV Group, a unit of global marketing communications company VMLY&R, and the Wharton School of the University of Pennsylvania.
The Quebec commercial real estate agency McGILL Commercial (specialized division of McGILL real estate) is already blowing its 4 candles and for the occasion, it will take an international direction in collaboration with the world luxury giant ENGEL & VÖLKERS, the agency founded in Germany 40 years ago (1977). Engel & Völkers is the only international luxury real estate agency that is not of American origin, nor property of an investment fund; it is 100% privately owned. ENGEL & VÖLKERS Montréal / Québec is experiencing an unprecedented progression in Quebec under the direction of its owners PATRICE GROLEAUand DEBBY DOKTORCZYK, who have made a real revolution in the real estate brokerage industry in Montreal and Quebec City during the last decade. We also know the prolific couple as owners of the # 1 real estate agency in Montreal & Quebec for the sale and marketing of top-quality McGILL real estate condos … + $ 3 Billion, +10,000 new Condos.
Engel & Völkers is already a major commercial player in Europe with its Engel & Völkers Commercial division. For the moment, the company wants to focus on the implementation and the vertiginous growth of its luxury residential division in America and is analyzing its options for the future of its commercial division on this side of the Atlantic. It seems, however, that it will be logical to do so through its existing network of real estate shops already established rather than take a “corporate” approach to implementation in the various major and logical markets from a commercial perspective in America. Because the problem of the majority of 100% “corporate” commercial agencies in Quebec is that almost all have very few brokers in their ranks which makes it practically impossible to set up an effective network of offices and brokers covering the all of the Quebec territory while limiting the full capacity of a support team, because of the lack of a critical mass of brokers and clients..
The 3 specialized and selective agencies being the three managed and exclusive property of the couple Groleau & Doktorczyk, allow them to maximize the resources. With a spectacular and imposing headquarters on the ground floor and 2nd floor of the Port-Royal adjacent to the Museum of Fine Arts in the Golden Square Mile in Downtown Montreal, but also with a network of real estate shops strategically located in Outremont, Westmount, Quebec, North Shore, South Shore, etc. In addition to an administrative team and selected and specialized real estate advisors of more than 125 people, allowing them to offer, to their exceptional clients, a unique service in the real estate brokerage industry in Quebec while offering one of the most powerful global network joining +500 Million consumers per month via their exclusive EDGE network.
DID YOU KNOW? We have +33 REAL ESTATE BROKERS who hold a COMMERCIAL LICENSE!!! When it’s COMMERCIAL it’s McGILL COMMERCIAL!
Engel & Völkers distances even more its competitors as the most powerful global luxury real estate network on the planet, thanks to EDGE “Extensive Domestic & Global Exposure” (EDGE™) platform which maximizes the exposure of Engel & Völkers’ property listings to qualified, targeted buyers worldwide. EDGE is inclusive of primary digital and mobile platforms reaching over ▪500 MILLION CONSUMERS EACH MONTH, from first-time homebuyers to the most affluent clientele around the world.
The platform even includes a system of high-tech translations to reach as many buyers as possible in their mother tongue. With partnerships with the biggest real estate sites in the world, like Chinese giant Juwai.com or RealEstate.com, Zillow Group, Realtor.com, JamesEdition, Mansion Global, ListHub and The Wall Street Journal, among others. Give the EDGE to your property!
Annual Income vs. Home Prices
Median Family Income
Benchmark or median home price April 2018
Home Price compared to income
Revenu familial médian (Median Family Income) 92,988$
Prix des maisons médian Avril 2018 (Benchmark or median home price April 2018) 766,000$
Prix des Maisons par rapport au revenu (Home Price compared to income) 8X
Median Family Income 92,234$
Benchmark or median home price April 2018 1,092,000$
Home Price compared to income 12X
Median Family Income 90,584$
Benchmark or median home price April 2018 341,300$
Home Price compared to income 4X
64% of rich people in China want to immigrate
66% want to buy a house abroad
83% want their children to go to school abroad
“MONTREAL becomes hot spot for Chinese real estate shoppers, says Juwai report” ・CBC
➤ MONTREAL +84,5% / CANADA 1,450,000,000$
Global luxury giant ENGEL & VÖLKERS official partner of JUWAI.com… We are ★ REAL ESTATE AMBASSADORS!
Engel & Völkers Montréal Québec
‘The future of real estate brokerage is based on Selection and Specialization. ‘– Patrice Groleau, Owner ENGEL & VÖLKERS Montreal / Quebec
Are you a real estate broker? Are you a municipal, provincial, national or international broker ?
Open yourself to the world!
The global luxury giant ENGEL & VÖLKERS continues its brokerage revolution in Quebec.
We already have beautiful real estate shops in Westmount, Outremont, Tremblant, Bromont, Old Quebec and now our new spacious Real Estate Embassy in the Golden Square Mile of Downtown Montreal.
We are currently going through hundreds of interviews to find the elite real estate brokers… especially experienced brokers, covering the following sectors:
- WEST ISLAND
- NORTH SHORE
- SOUTH SHORE
- GREAT QUEBEC REGION
In all discretion … and with the pleasure of collaborating by the rules of the art!
Please send your detailed résumé to : firstname.lastname@example.org, email@example.com
Do you know a broker with the profile? Refer him or her to us and go on a trip! *
Do you want to hit your professional career out of the ballpark?
Ask our real estate brokers what ENGEL & VÖLKERS has done for their career and you will see
The traditional model of real estate agencies, where everyone can work, without interviews, regardless of experience, skills, abilities and performance is now in the past, according to us, if we want to see brokerage prosper in the future …
This is already the case with lawyers, financial planners, etc.
Why would we be an exception?
We target only 1% of brokers in Quebec about 120 real estate brokers within the province … QUALITY before QUANTITY!
A selective and specialized team of “real estate advisors” to meet the aspirations of an exceptional clientele.
If you want to work in an agency where the team standards are based on total cooperation among all its brokers, with no internal cannibalization, with a culture and a unique business philosophy … a real professional family!
“We are not the national league, we are the all-star game … We are the PhDs of real estate. We are finally giving our industry the fame it deserves … “- Patrice Groleau
BOOM! A FIRST IN NORTH AMERICA! “DEBBY DOKTORCZYK and PATRICE GROLEAU, co-owners of McGill Real Estate and ENGEL & VÖLKERS hit another home-run by signing for exclusivity of the CANVAS interactive platform developed by Montreal-based company IMMERSIVE DESIGN STUDIOS, holder of the WORLD RECORD for the HIGHEST NUMBER OF PIXELS in a real-time 3D screen in collaboration with the world giant graphic card creator NVIDIA… CANVAS is EXCLUSIVELY presented at the CHARLOTTE Project in GRIFFINTOWN by developer HUIT DEVELOPMENT a subsidiary of AXXYS Group. www.mcgillimmobilier.com/en/charlotte-condo-project-griffintown The revolution in brokerage continues … WE ARE THE FUTURE OF REAL ESTATE! www.mcgillimmobilier.com/canvas/
The life of an ENTREPRENEUR should be divided into 3 main periods:
Lead and inspire people who have a strong base and who will know how to build, adapt, evolve… who someday will lead and inspire in turn and so goes the cycle of a viable long-term business that will be passed on from generation to generation…
Unfortunately too many people skip the learning part… if you knew the thousands of hours that I have spent at the back of a classroom, often at night or in the summer, while working full-time in the financial community. There are no secrets… unfortunately people see the results but are not aware of the efforts and risks at stake…