October 5, 2016 - The Fédération des chambres immobilières du Québec (FICQ) (Québec Real Estate chambers federation ) provides additional conclusive information , to say the least , that condo rentals are increasing in Quebec. A recently published study on co-ownership, states that condos offered for rent (on the Centris system) have increased dramatically in recent years.
"The number of units leased through a real estate broker in Quebec has grown an impressive 63% since 2012 to reach 8,181 units in 2015," says the FICQ which specifies, however, that last year increase (9%) was the lowest recorded in the past three years.
Anyway, "the proportion of rented units in comparison with those sold, increased from 29% in 2012 to 42% for the first eight months of 2016", added the FICQ. This percentage rose to 54% in the island of Montreal, according to the most recent data. New rentals have increased sharply between 2012 and 2015, and it is all the more noticeable in new co-ownerships construction.
New condos for rent are truly exploding on the Centris system. They show a leap of 137% in three years, against 66% for all existing co-ownerships. FICQ notes that, obviously renting out their condos is "an alternative to a sale by the owners."
Montreal, October 5, 2016
