Has anyone purchased a Tour Des Canadiens condo?
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11-13-2012, 01:42 PM
Join Date: Jan 2007
Originally Posted by
But but but.. prices never fall!
Could get worse, maybe won't, but only goes to show you nothing goes straight up
Given the world-wide growth stagnation, much foreign capital is needed for local economy.
Canada hasn't allowed many investor immigrants in lately and besides McGill and Concordia, French universities in Quebec have very little appeal to Asian students for obvious reasons.
When I went to UofT, I made dozens of friends straight out of China who paid cash for their half a million downtown condos and Bimmers/Benz. The money they spend on eating out and drinking alone far exceeded my entire annual budget of living in Toronto. No wonder most of them never minded the 25k/year tuition. Yes those are the Asian that people often see checking out dozens of LV and Chanel bag at European airports.
McGill and Concordia still have many of privileged students but it's nowhere remotely comparable to the number Toronto and Vancouver attract. Hence it is in my opinion that Montreal's real estate market doesn't have much upside but slow steady growth is expected.
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