Investing in Real Estate Market

October 10, 2009 by property
Filed under: Real Estate

Real estate market is flourishing in the Eastern Townships and demand is growing. This is one of the administrative regions of Quebec where the population is increasing in the coming years according to recent demographic studies. Several factors may explain the increase in demand for real estate Estrie.

The pole of the Health Center Hospitalier Universitaire de Sherbrooke and the University of Sherbrooke will continue to attract new people, year after year. They need housing for medium and long durations.

Diversified tourism activities also attract more and more tourists requiring accommodation. The Eastern Townships abounds indeed attractions like national parks, ski hills, golf courses, vineyards and many others. These visitors often fall in love with the area and returned to establish their second home, there are leasing or buying a condo or just settle for their retirement.

Moreover, the average single-family houses on the territory of Sherbrooke Estrie remained relatively stable during 2009. The resale price of houses has actually increased slightly (3%) from January to August compared to the same period last year. This tells us that an article in the newspaper La Tribune de Sherbrooke.

The number of real estate transaction in Sherbrooke has also remained relatively stable from 1064 to 1054 for the same period, at least a dozen. This is an indicator of housing market Sherbrooke healthy and stable, despite a difficult economic environment. Whatever Estrie Sherbrooke fare and still well economically.

In return for this slightly higher resale price, sellers must be prepared to wait for benefits in 2008 before concluding the sale of their residence. We note indeed that the average time to sell a home increased from 80 days in 2008 to 94 days in 2009. The advantage is this year to the buyer in a ratio of about 1 / 9. Buyers have a major incentive, since the interest rates for mortgages remained significantly lower in 2009.

All this is a real positive environment in Sherbrooke and the rest of the Eastern Townships. The sellers provided the buyers will get their money. Prices are slightly higher in favor of sellers, while buyers benefit from interest rates more attractive price and perhaps more interesting from sellers hurry who do not want to wait 3 months before selling their home.

In short, the Eastern Townships region remains a strong and popular, is it an ideal place to invest in real estate.

Share and Enjoy: