4361 Harvester Rd Unit 7, Burlington , ON L7L 5M4

Construction intentions for multi-family dwellings in Montréal continue to climb

Posted on February 15, 2018 by Circle Mortgage Team

In October, the value of permits for both single-family and multi-family dwellings increased in the CMAs of Montréal and Toronto. However, in the Vancouver CMA, both residential components fell, offsetting the gains in September.
Municipalities in the CMA of Montréal issued $538.1 million in permits for multi-family dwellings in October, higher than in Toronto ($409.2 million) and Vancouver ($330.6 million). In regards to single-family homes, Toronto registered $451.3 million in permits, followed by Vancouver ($148.1 million) and Montréal ($122.4 million).
The Montréal CMA issued permits approving the construction of 2,956 new units, stemming mainly from multi-family dwellings (2,720). October marked the fifth consecutive month where the number of units approved for multi-family dwellings exceeded 2,000. Vancouver approved the construction of 1,860 new units for multi-family homes, while Toronto (1,691) approved fewer despite having a higher value for the component.

Share This Story, Chose Your Platform!
Copyright 2021 Circle Mortgage • All Rights Reserved. Privacy Policy
text-align-justify linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram