Thierry Samlal, Executive Vice President, PMML Capital Markets, presents the multi-housing market for the Province of Quebec sector
In September 2023, the real estate market in Quebec exhibits distinctive characteristics. Despite high-interest rates, transactions for concrete multi-unit buildings remain stable, although the spread between the Gross Rate of Return and interest rates is negative. Institutional investors are withdrawing, while private investors with equity are active. Notable transactions include an exceptional sale in Pierrefonds-Roxboro, a sale below sector values in Rosemont, and an interesting deal in Saint-Adèle. New and recent constructions generate interest, and land parcels are also sought after despite varying prices. The market remains dynamic despite signs of price readjustment.