Montreal

Montreal home sales increased by 10% in June, driven by hot condo market

Condominium sales were up 20 per cent, marking a steady increase for a second consecutive month, while sales of single family homes rose four per cent.

Condominium sales were up 20%, marking a steady increase for a second consecutive month

There were 3,952 properties sold in the Greater Montreal area last month, the highest level for June in eight years. (CBC)

The Greater Montreal Real Estate Board says area home sales increased by 10 per cent in June, driven by a hot condo market.

There were 3,952 properties sold last month, the highest level for June in eight years.

The data comes amid concerns that a 15 per cent foreign buyers' tax in the Greater Toronto Area could have a spillover effect on Canada's second-largest city.

Quebec's finance minister has said he has no plans in the near term to introduce such a tax since foreigners accounted for only about 1.5 per cent of all Montreal-area sales in the first nine months of 2016, according to the Canada Mortgage Housing Corp.

Housing sales in June were aided by a 17 per cent increase in sales on the Island of Montreal.

Condominium sales were up 20 per cent, marking a steady increase for a second consecutive month, while sales of single family homes rose four per cent.

now