Griffintown condos are a hot commodity!

Why Griffintown?

 

Location, location, location…

 

Griffintown is near the action.

 

It borders Notre Dame (N), the Lachine Canal (S), the Bonaventure Expressway (E) and George-Vanier Boulevard (W).

 

Residents could walk to the two largest work centres of Montreal: the Downtown Core (15-20 minutes) and the Old Port (10-20 minutes).

 

Griffintown is within a 5 minute drive to the Victoria Bridge and Champlain Bridge, two ways off island. It’s a 2 minute drive to Highway 20, and a 10-30 minute drive to Highway 15.

 

And that’s not all.

 

Griffintown residents have walking access to the restaurants and entertainment of Notre Dame and the Old Port.

 

Parks Canada invested millions into landscaping and upgrading the Lachine Canal bike path, which is closeby.

 

Griffintown has almost everything you need, and if not those businesses are moving in.

 

The City of Montreal is investing over $140 million into the neighborhood to improve lifestyle by constructing new parks and remodeling the streets to be more welcoming to pedestrians by widening sidewalks and planting more trees.

 

The Neighborhood’s Demographics

 

Conveniently near the Downtown Core and the Old Port makes Griffintown a magnet to young professionals.

 

That’s because millennials favor the amenities and location, location, location over suburban life.

 

What is the age range? The vast majority is 20-34 year olds and the second is 35-49 year olds.

 

 

Is Griffintown a Good Investment?

 

The appeal is the area’s location, location, location.

 

You may make money if you buy a pre-construction condo. However, there are risks of real estate market fluctuations.

 

If you buy a resale condo in Griffintown, you will be buying at higher prices than 2014-2015. But if the market continues to grow, you stand a chance at appreciation.

 

Buy a Pre-Construction or Resale Condo?

 

When you buy pre-construction, you’re paying for a future condo at today’s prices. Years later, the value of your property will most likely increase.

 

In Griffintown, builders continue new condo projects that are competitive with the resale market.

 

Investors are interested in the neighborhood. Investors and VIPs get early access to buy the units. If you’re looking to buy a specific type of property, you should consider both resale and pre-construction options.

 

It’s premature to call Griffintown a seller’s market. Buying resale is affordable for first time condo buyers. Since condo fees are low, resale is an affordable option for most buyers.

 

For all real estate inquiries (buying, selling or investment) call the local real estate agent, Behrooz Davani.

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