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3 Reasons Montreal Is a Great Investment for Foreigners

Written by  //  2019/07/03  //  Location...Location  //  No comments

Montreal has made a name for itself worldwide as a prime tourist destination. Montreal is also becoming a major focus for foreign investment. Many foreigners are still unaware of the incredible real estate investment opportunities in the city. There are a variety of reasons why Montreal is a great real estate investment for foreigners. In this article, we will focus on three that really exemplify the attractive character of Montreal.

A Booming Economy

Montreal is the second largest economy in Canada and the economic centre of Quebec. The city has become known as a mainstay of technology, industry, commerce, culture, international relations, and finance. In fact, foreign investments have been growing rapidly in recent years. Montreal has heavily invested in building its local information technology talent pool. It also benefits immensely from close proximity to the United States and low electricity rates. This burgeoning economic growth explains the corresponding increase of Montreal condos for sale.

Art and Culture

Montreal is an important part of television and film production. The city is home to five studios of the Academy Award-winning National Film Board of Canada, the head offices of Telefilm Canada (the nation’s television and film funding agency). Montreal possesses unique architecture too. These factors, combined with Montreal’s plethora of film crews and services, makes the city a prime filming locale, often serving as a stand-in for European cities. There are numerous music, film, and cultural festivals that form a significant part of the local economy. Montreal is also home to the world-famous Cirque du Soleil.

Along with Berlin and Buenos Aires, Montreal is one of only three locations named a UNESCO City of Design. This award is meant to recognise the local design community. Montreal’s cultural sector makes up six percent of the city’s GDP and more than four percent of its total jobs. There are more than 80,000 direct and about 50,000 indirect jobs related to the sector, and the sector is estimated to be worth almost $11 billion.

Appeal to Foreign Investors

Montreal is the international centre for artificial intelligence technology. Global companies maintaining a significant presence in the city include Facebook, Google, Microsoft, and Samsung. Alongside the artificial intelligence sector is the growing cloud computing industry. In fact, Google, Amazon, Bell, and IBM all have cloud data centres located in Montreal.

Additionally, the video game industry has been focusing more of its resources into the city since the late 1990s. Major video game companies such as EA, Ubisoft, BioWare, and Eidos Interactive all have headquarters in Montreal. This is due in large part to the provincial government’s heavy subsidization of the industry.

Montreal Condos for Sale

These are just a handful of reasons Montreal is on the map for foreign investors. Thankfully for anyone considering a move to the city or an investment in property, there is no shortage of exquisite Montreal condos for sale. These luxury condos are right in the middle of the action, giving residents a chance to immerse themselves in all that Montreal has to offer.

image credit: Pixabay

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