Montreal’s remarkably hot real estate usually gets all the attention, since it’s one of the few booming real estate markets in the country. But Mont-Tremblant, a small ski resort-town located about an hour and a half away from Montreal, is experiencing growth it hasn’t seen in over a decade.
It would be easy to assume that this boom is caused by international buyers who are moving away from Toronto and Vancouver’s markets. But Stephen Lafave, senior director at Engels & Völkers Tremblant disagrees. “A lot of people think the buyers here are primarily international,” Lafave said. “It’s a market we’re very interested in, certainly, but the primary market is still Montreal and Ottawa. A lot are existing homeowners.”
Mont Tremblant is seeing significant growth
The Mont Tremblant area saw a 23% increase in sales from 2017 to 2018. It’s expected that 2019 will follow the trend. Just in Tremblant Village alone, sales increased from 198 in 2017, to 245 in 2018. Luxury resort properties priced at over $1 million also saw a significant increase. They more than doubled in the same period.
The area is also seeing an increase in development. Several major projects are coming into the market in the near future. One of the largest ones will be a five-story, four-star condo-hotel project next to the Loto-Québec’s Mont Tremblant Casino. This project will carry 92 ski-in, ski-out condos, with amenities including an outdoor pool, fitness centre and spa. Prices will start at $380,000.
Why such a draw to Mont Tremblant?
What are the reasons behind this sudden increase in activity? Lafave mentioned that this resort town has matured into an actual community. With the construction of new schools, supermarkets, clinics, and other essential services, Mont Tremblant has become more and more appealing for full-time residents.
Of course, we can’t ignore Montreal’s significant increase in housing demand and subsequent real estate appreciation. “We’re seeing that as the market heats up in the city it gives people an opportunity to cash out on their primary residence and invest more in their secondary homes,” Lafave said. “A lot of what’s happening here is fuelled by the action and activity in Montreal.”
Mont Tremblant is only a couple of hours away from Montreal. Montrealers who don’t mind the long, daily commute could keep their high paying jobs and enjoy everything that Mont Tremblant has to offer. And with the rise of telecommuting jobs, it’s increasingly easy to live in a cabin in the mountain. Only occasionally do you need to venture into a physical office in the big city.