Can you believe that, it’s incredible… there’s thousands and thousands empty condos in Montréal, a lot are new, and they continue to build them, sometimes even in high rising towers and all. A lot of them are illegal airbnb too.
Why they cannot sell them? They are small, expensive, and sometimes badly placed (no metro, no parking, bad area, place without services around, etc).
13 in 3 months in downtown area!!!
It’s not first buyer, because not a lot of people can have a 5k or 6k mortgage + condo fee (can easily be 800-1000 per month in high rises when you have security+pool+gym etc) + property taxes (about 600$/month too in MTL for 1M).