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EEverything English and French buyers need to know about Montreal's property market: prices, welcome tax, and top neighbourhoods./p>
Montreal remains one of Canada's most affordable major cities for real estate, though prices have risen significantly since 2020. The average residential property price in greater Montreal is approximately $550,000–$600,000 for a single-family home and $380,000–$450,000 for a condo in 2025.
| Budget | Neighbourhood | Property Type |
|---|---|---|
| Under $400K | Verdun, LaSalle, Ahuntsic | Condos, smaller plexes |
| $400K–$600K | Rosemont, Villeray, NDG, Saint-Laurent | Condos, duplexes |
| $600K–$900K | Plateau, Mile End, Côte-des-Neiges | Condos, triplexes |
| $900K+ | Westmount, Outremont, DDO, Pointe-Claire | Houses, luxury condos |
Quebec's welcome tax is a one-time municipal tax paid when you purchase property. It is calculated on the purchase price.
Unlike some other provinces, Quebec does NOT offer a provincial first-time buyer rebate on the welcome tax (droits de mutation). Every buyer — first-time or not — pays the full welcome tax. Only federal programs (FHSA, HBP) are available.
Rates: 00.5% / 1% / 1.5% / 2% / 2.5% (Quebec 2025).
Unlike some other provinces, Quebec does NOT offer a provincial first-time buyer rebate on the welcome tax (droits de mutation). Every buyer — first-time or not — pays the full welcome tax. Only federal programs (FHSA, HBP) are available.
| Cost | Typical Amount | Notes |
|---|---|---|
| Welcome Tax (Droits de Mutation) | ~1–2.5% of price | Paid to municipality, no provincial rebate |
| Notary Fees | $1,200–$2,500 | Required in Quebec (notary, not lawyer) |
| Home Inspection | $400–$800 | Strongly recommended |
| CMHC Mortgage Insurance | 2.8–4% of mortgage | If down payment under 200% |
| Moving Costs | $1,000–$4,000 | Local or interprovincial |
Unlike some other provinces, Quebec does NOT offer a provincial first-time buyer rebate on the welcome tax (droits de mutation). Every buyer — first-time or not — pays the full welcome tax. Only federal programs (FHSA, HBP) are available.
Quebec has its own notarial system — all real estate transfers must go through a licensed Quebec notary. Transactions are commonly done in both English and French. Contracts are governed by the Civil Code of Quebec, not common law.
| Bank | Strength |
|---|---|
| National Bank | Quebec-headquartered, deep local expertise |
| Desjardins | Largest cooperative lender in Quebec |
| TD Bank | Competitive fixed and variable rates |
| RBC | Wide product range, strong mobile app |
| BMO | Competitive promotions for new buyers |
| Scotiabank | eHOME digital mortgage platform |