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.
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.
“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.