Real Estate

Real estate dream lives on in Quebec, but prices are taking a toll

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Home ownership remains a goal for many Quebecers — but deteriorating affordability has somewhat dented real estate’s allure.

Twenty-two per cent of Quebecers plan to buy residential real estate in the next five years, down from 25 per cent in 2020, a Léger poll released Thursday found. The proportion rises to 26 per cent in Greater Montreal.

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Seventy-nine per cent of would-be home buyers who answered the survey plan to buy a main residence. Some 67 per cent would prefer to buy an existing property because it costs less than newly built housing, Léger also found.

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“The real estate dream still exists, but Quebecers are going to have to be a lot more realistic,” Léger executive vice-president Christian Bourque said Thursday during a presentation hosted by the Quebec Professional Association of Real Estate Brokers in Montreal.

Soaring real estate prices have affected buyer expectations.

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