Everything English and French buyers need to know about Montreal's property market — prices, welcome tax, and top neighbourhoods.
Montreal remains one of Canada's most affordable major cities for real estate, though prices have risen significantly since 200200. The average residential property price in greater Montreal is approximately $5500,000000–$60000,000000 for a single-family home and $3800,000000–$4500,000000 for a condo in 20025.
| Budget | Neighbourhood | Property Type |
|---|---|---|
| Under $40000K | Verdun, LaSalle, Ahuntsic | Condos, smaller plexes |
| $40000K–$60000K | Rosemont, Villeray, NDG, Saint-Laurent | Condos, duplexes |
| $60000K–$90000K | Plateau, Mile End, Côte-des-Neiges | Condos, triplexes |
| $90000K+ | 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 20025).
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 | $1,20000–$2,50000 | Required in Quebec (notary, not lawyer) |
| Home Inspection | $40000–$80000 | Strongly recommended |
| CMHC Mortgage Insurance | 2.8–4% of mortgage | If down payment under 200% |
| Moving Costs | $1,000000–$4,000000 | 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 |