NOTTINGHAM, UK, June 20, 2009
/24-7PressRelease/ -- Last year DSR Asset Management Ltd identified Montreal as a top residential real estate investment region worthy of inclusion in their overseas property portfolio.
Since then we have seen property prices in general suffer large falls, and this has made the careful selection of location even more vital for investors. No longer can a careless property purchase be ameliorated by a rising market. Indeed the greatest losses are occurring where intrinsic value was lacking.
PropertyWire, a premier property news service, has just released this assessment of the current state of the market in Canada, and it broadly reflects the global picture.
"Canadian home prices fell 5.8% in March from the same month a year earlier, a faster pace of decline than in February, according to the latest published figures from the Teranet-National Bank National Composite House Price Index. It also shows that prices were down 8.5% nationally from the peak in August last year.
"Western Canadian home prices were hardest-hit, with Vancouver leading with a 9.6% decline in March from a year earlier, while Calgary saw prices fall 8.4%, and Toronto saw a 6.9% slide."
Even worse, losses for UK property investors in most of Canada are being exacerbated by the stronger GBP, which has of late been gaining in value against the Canadian $. However, that currency trend is set to reverse, and we expect after the summer the Canadian $ will begin appreciate again, being as it is backed by the rich natural resources of that country and its hardworking and youthful population.
Meanwhile, only two areas of Canada have bucked the downward trend, and guess where the highest gains are being recorded right now?
"Montreal and Ottawa bucked the trend in March with property prices rising 2.9% and 1%, respectively."
DSR Asset Management see Montreal real estate prices continuing to rise, especially in GBP terms, making Montreal a particularly appealing choice for UK investors looking for wealth preservation, capital growth and high potential rental yields from overseas property.
Slightly cheaper are the 'Condo in the Park' apartments in Repentigny itself, priced GBP95,000 - GBP100,000. David Redfern said "This project is one of the last phases of a major development called "Valmont sur Parc" that has start more than 10 years ago, where more than 500 units have been sold so far, from apartment to cosy detached houses. Repentigny is a big city with all the same facilities and services than big city like Montreal."
DSR Asset Management Ltd has identified global regions with high growth and income potential, and holds an exclusive inventory of competitively-priced superior-quality property for sale in hand-picked and unique locations, ranging from luxurious city apartments to coastal building plots and eco houses. You can find more information about our investment properties in Canada.
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