Article content

Newcomers to Canada are a powerful force in Canadian real estate. Whether they’re here for the long haul or intend to stay for only a few years while they work or study, one thing’s for sure: they all need somewhere to live.

According to a recent survey released by Royal LePage, newcomers to Canada are responsible for as many as one-fifth of home purchases in Quebec. At the current pace of international migration, the brokerage estimates more than 100,000 Quebec homes will be bought by newcomers within the next five years.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Montreal real estate: Immigrants may help boost housing prices Back to video

Will the buying patterns of these newcomers contribute to rising prices? Yes, if a number of conditions are met (and they are being met right now).

There is a supply problem in Montreal, and home builders aren’t keeping pace with demand. If interest rates remain low, if the economy remains strong, if Quebec’s political situation remains stable, and if the world continues to see Montreal as a desirable destination to work, study or raise a family, then, yes, it’s likely we will continue to see demand outstrip supply, and that means prices probably will keep rising.