Top 11 Montreal Neighborhoods for Condo Investment
Are you considering investing in a Montreal condo? You’re in luck because Montreal offers a diverse range of neighborhoods, each with its own unique charm. From affordable areas to vibrant communities, there are several neighborhoods that are particularly well-suited for condo investment. To help you narrow down your search, we’ve compiled a list of eleven great areas that are perfect for various types of investments.
Downtown Montreal – Downtown Montreal is one of the most popular places to live, especially for university students. It’s an excellent choice for investment properties due to the high demand for rental units. The neighborhood is conveniently located near public transportation and major employers, making it particularly attractive to tenants.
Verdun – Verdun offers charming, tree-lined streets, and proximity to the Lachine Canal, making it ideal for outdoor activities. The area has seen significant development in recent years with new condos being built to meet the growing population’s demands. The neighborhood is known for being fairly affordable and is home to a wide range of shops, restaurants, and cafes, making it a great place to live for those who appreciate vibrancy.
Plateau Mont-Royal/Mile End – The Plateau Mont-Royal is one of Montreal’s most desirable neighborhoods, thanks to its central location and bohemian vibe. The neighborhood is well known for its vibrant nightlife, eclectic mix of shops and restaurants, and high student population, making it an ideal choice for investors looking to rent to tenants attending nearby colleges and universities. Mile-End, located north of Plateau Mont-Royal, is also known for its arts scene and independent businesses, making it another great investment option.
Mile-Ex – Mile-Ex is becoming increasingly popular among real estate investors due to its proximity to downtown Montreal, diversity, up-and-coming arts community, and rapid gentrification. The area has a range of great restaurants, cafes, bars, and boutiques, making it attractive for both living and investing.
Pointe-St-Charles – Pointe-St-Charles is a historic neighborhood located south of downtown Montreal, near the Lachine Canal and the St. Lawrence River. Condos here are relatively affordable compared to other areas in Montreal. The area is currently undergoing revitalization, which can lead to an increase in property values over time, and boasts a growing rental market. The neighborhood’s excellent public transit connections, including the metro and bus, make it a convenient and budget-friendly option for tenants.
Ile-des-Soeurs – Ile-des-Soeurs offers beautiful waterfront views and is just west of downtown Montreal, making it a convenient location for those who want to be close to the city’s main business and entertainment districts while still fostering a calm lifestyle. The area has a wide range of condos available and is known to be particularly safe, an added bonus for investors looking to buy a condo in the area.
Lachine – Lachine, located right on the Lachine Canal, is an excellent option for outdoor activities, including biking, walking, kayaking, and paddleboarding. The neighborhood also has a rich history and includes many heritage sites and museums to visit, making it a perfect location for history buffs and tourists. It also has easy access to public transportation and major highways for commuters.
Notre-Dame-de-Grâce – NDG is a diverse neighborhood located on the western side of Montreal’s Mount-Royal. It is known for its mix of older and newer houses and apartments, as well as its multicultural population. NDG is a good choice for investment due to its relatively low property prices and high demand for rental units. The neighborhood is also home to many parks, schools, and shopping districts and is well connected to the main public transportation networks.
Little Burgundy/St Henri – Griffintown and St Henri are rapidly gentrifying neighborhoods that offer investors plenty of unique opportunities. The areas were once home to many warehouses and industrial buildings but have undergone drastic changes in recent years. They are now known for their trendy cafes, chic lofts, and art galleries. There are also many condo buildings in both areas to choose from. They are also near the Atwater market, a large and lively market open all year round. These areas are up-and-coming and are sure to be in high demand for years to come.
Dorval – Dorval is a great place for investors who are frequent travelers as it is close to the Montreal-Trudeau International Airport. It has a quickly growing population and offers a relatively low cost of condos compared to other areas in Montreal, which can provide a good return on investment for investors. While it is further away from the downtown core than other neighborhoods on this list, it is well-connected to the city’s main highways. It also has a large number of major stores.
Hochelaga-Maisonneuve – Hochelaga is a neighborhood located on the eastern side of Montreal. It has relatively low property prices compared to some other neighborhoods so close to the center of Montreal, which can make it an attractive option for investment. The neighborhood is home to many families, students, and young professionals who are looking for affordable housing options, making it a great rental investment. Plus, the restaurant scene in this neighborhood has been especially up-and-coming in recent years!
Ultimately, the best neighborhood for investment will depend on your specific goals and budget. To discuss your specific needs and concerns, please don’t hesitate to reach out to Team Langtry at 514-781-2121. With such high demand for rental units citywide, you’re sure to find tenants for your investment property no matter where you decide to invest. So, whether you’re looking for a pied-à-terre or a property to rent out, there are many excellent options available in Montreal’s diverse range of neighborhoods. Contact us today to learn more about investing in Montreal real estate!