Longueuil and Mirabel Real Estate: 2 Opportunities Await!

Longueuil and Mirabel Real Estate: 2 Opportunities Await!

Montreal, Canada’s second biggest city, has been unquestionably one of the most appealing real estate markets for investors. When compared to other major Canadian cities such as Toronto or Vancouver, Montreal’s average real estate price is comparatively low, making it a more affordable alternative for homebuyers and investors.

Rank	Municipality	Province	Census metropolitan area in which the municipality is located	Population
				2016	2021	Growth from 2016 to 2021
				number		percent
1	Toronto	Ontario	Toronto	2,731,571	2,794,356	2.3
2	Montréal	Quebec	Montréal	1,704,694	1,762,949	3.4
3	Calgary	Alberta	Calgary	1,239,220	1,306,784	5.5
4	Ottawa	Ontario	Ottawa–Gatineau	934,243	1,017,449	8.9
5	Edmonton	Alberta	Edmonton	933,088	1,010,899	8.3

Source: Statistics Canada

Greater Montréal is made up of 82 cities and has a population of 4.2 million people. The Montreal metropolitan region is home to a sizable share of Quebec’s population. According to current estimates, the Greater Montreal Area is home to 48% of Quebec’s population.

 

When purchasing real estate for investment purposes, various essential factors must be considered, such as location, tax, population, and so on. However, one of the most crucial aspects of real estate investing is population fluctuation.

 

In this regard, investing in areas around Montreal, rather than downtown Montreal, may be considered more beneficial. Suburban areas around Montreal have seen a demographic transition, with an increase in the number of young families and professionals, resulting in increasing demand for housing and rental properties.

 

In this blog, we will find out which are the most promising suburban areas in the greater Montreal area from an investment perspective.

 

Longueuil real estate market

 

There is no specific population size that should be targeted for real estate investment, but a larger population promises a greater absolute numerical increase. As a result, a city with a larger population base gives a better investment opportunity.

 

Moreover, larger, active cities with above-average population growth and a strong economy tend to sell for substantially more, making future market trends easier to forecast.

 

Population 

 

Let’s take a look at the table below. These are Quebec’s top 5 most populated cities. Longueuil has the highest population growth rate among the 5 cities, at 6.1% from 2016 to 2021. The growth rate is still impressive when compared to similar-sized cities in Canada.

 

The enumerated population of Longueuil in 2021 was 254,483, a 6.1% increase from 2016. This is higher than the corresponding provincial and national averages of 4.1% and 5.2%.

 

Rank	Municipality	Province	Census metropolitan area in which the municipality is located	Population
				2016	2021	Growth from 2016 to 2021
				number		percent
1	Montréal	Quebec	Montréal	1,704,694	1,762,949	3.4
2	Québec	Quebec	Québec	531,902	549,459	3.3
3	Laval	Quebec	Montréal	422,993	438,366	3.6
4	Gatineau	Quebec	Ottawa–Gatineau	276,245	291,041	5.4
5	Longueuil	Quebec	Montréal	239,897	254,483	6.1

Source: Statistics Canada

If we take a closer look at the demographics, the working-age population (15-64 years old) constituted the majority of the population in Longueuil, accounting for 64.3% of the total population. A big portion of working-age people indicates a greater pool of possible tenants and purchasers, which can guarantee long-term property value increases and rental rate increases.

 

Longueuil – Age distribution by age groups, 2021 Census

Age groups	Total – Gender
0 to 14	16.8%
15 to 64	64.3%
65 and over	19.0%

Source: Statistics Canada

Economy 

 

The presence of quality employers in a regional real estate market may have a substantial influence on the market’s overall health and stability. High-quality employers can attract a highly educated and skilled labor force, resulting in a more diversified and vibrant neighborhood and a strong economy.

 

Longueuil is home to numerous big enterprises, including Pratt & Whitney Canada, which are involved in the design, manufacture, and maintenance of aircraft and aviation components and can provide permanent employment for the population.

 

These Longueuil employers provide good job stability and benefits, which can make the area more attractive to families and individuals looking for long-term housing solutions. This stability can also help to reduce the risk of housing market downturns and provide a more consistent demand for real estate for the Longueuil area.

 

A healthy local economy with high-quality jobs provides residents with a stable source of income, which stimulates demand for real estate. This can lead to higher property values as well as a more active and competitive real estate market.

 

Transportation 

 

Location-wise, Longueuil is a few minutes away from Montreal and it has an extensive transit infrastructure, including a yellow line metro that connects to downtown Montreal. This closeness makes Longueuil an appealing location for renters and buyers who want to experience the perks of living in Montreal without paying the higher prices that come with living in the city.

 

The Réseau express métropolitain (REM) is a new light rail transit (LRT) system being built in the Greater Montreal Region, The REM will connect Montreal’s downtown center to the South Shore of Montreal where Longueuil is located.

 

The REM is expected to have a significant impact on the Longueuil real estate market. The REM is projected to make commuting and transit within Montreal’s downtown and south shore more efficient and convenient, thereby making the South Shore more appealing to potential homebuyers and renters.

 

As a result, housing demand in the area, including Longueuil and Brossard, is expected to rise drastically within several years, resulting in higher property values and a more active and competitive real estate market in these areas.

 

House price

 

According to the Fourth Quarter 2022 data of the Quebec Professional Association of Real Estate Brokers, the median single-family house price and condominium price in Longueuil are much cheaper than those in Montreal (more than $300,000 lower for a single-family home), making an investment in Longueuil much more affordable.

 

Furthermore, house price increases in Longueuil have been much higher than in Montreal over the previous five years (over 10% higher), demonstrating that Longueuil real estate investment is a better and more promising investment than Montreal real estate investment.

 

Island of Montreal

 

Vieux- Longueuil

 

Schools

 

An area with high-ranking schools can boost housing demand and drive-up real estate values. Good schools in the Longueuil region have a beneficial influence on real estate potential since many purchasers evaluate the quality of local schools when choosing a neighborhood to reside in or invest in.

According to the Fraser Institute’s ranking of Quebec schools research, Longueuil’s schools perform very well in the report. Longueuil has four schools listed in the top 100 in Quebec.

The Fraser Institute’s mission is to assist parents in making informed decisions regarding their children’s education in Quebec. The Fraser Institute’s ranking of Quebec schools is a thorough assessment of the quality of education delivered by the province’s schools. The ranking is determined by a number of key indicators, such as second language, science and technology, mathematics, and so on.

An example of the evaluation result

 

Students in the Longueuil neighborhood have access to a number of resources and programs including innovative technology, highly qualified teachers, and a wide selection of extracurricular activities.

 

Crime rate

 

Nobody wants to live or invest in a high-crime neighborhood. Detroit is the negative example. The rise in crime, along with a decline in the city’s economy, resulted in a huge decrease in population and a drastic drop in the real estate market.

Source: Statistics Canada

In general, Longueuil is considered to have a low crime rate when compared to other similar-sized cities in Canada. According to current data, Longueuil’s total crime rate has been falling in recent years, and it has always had a lower crime rate than Montreal.

Mirabel real estate market

 

Mirabel is located 40 kilometers north of Montreal, which is slightly more than the distance from Longueuil to Montreal. However, it is still one of the best areas in Greater Montreal to invest in.

 

Population

 

Mirabel’s population was 61,108 in 2021, a 21.0% increase from 2016. This compares to a provincial average of 4.1% and a national average of 5.2%, making Mirabel one of the fastest-growing cities in Canada.

 

Furthermore, Mirabel is rated fifth in Quebec for the highest rate of population growth between 2016 and 2021.

Province or territory	Rank	The highest rate of population growth
		Municipality	Population
			2016	2021	Growth from 2016 to 2021
			number		percent
Quebec	1	Saint-Apollinaire	6,110	7,968	30.4
	2	Bromont	9,041	11,357	25.6
	3	Carignan	9,462	11,740	24.1
	4	Saint-Zotique	7,934	9,618	21.2
	5	Mirabel	50,513	61,108	21.0

Source: Statistics Canada

Once again, the population base is critical in real estate investing. As we can see, Mirabel has the largest base population among the five cities, making it the most appealing location for real estate investment in Quebec among the 5 cities.

 

The working-age population is a key driver of the real estate market as they have a demand for housing and a preference to live near workplaces.

 

The Mirabel working-age population (15-64 years old) made up 66.7% of the total population. In comparison, Canada’s population aged 15 to 64 was 64.8% in 2021.

Age groups	Total – Gender
0 to 14	20.7%
15 to 64	66.7%
65 and over	12.6%

Source: Statistics Canada

Will the Mirabel population continue to grow? 

 

We can say yes with confidence. Between 2011 and 2016, the population of Mirabel also increased by 20%. So, over the past 20 years, the city has maintained an incredible population growth rate of above 20% and didn’t show any signs of slowing down.

 

In addition, Mirabel, like Longueuil, is recognized for its aerospace and aviation industry, and it is home to various companies involved in aircraft manufacture and R&D, such as Bombardier. For Mirabel, Bombardier is the largest employer in the aerospace industry in Mirabel and keeps expanding in the Mirabel area.

 

Recently, Airbus also invested in the expansion of its Mirabel plants. Despite the industry’s current challenges, Airbus firmly believes in its Mirabel production facility. The Airbus Mirabel facility, which manufactures the A220 aircraft, continues to receive significant investment, leading to more employment as a result of the expansion.

 

All of the aforementioned factors ensure that Mirabel will continue to grow and absorb more people, helping it to sustain its rapid population growth.

 

House price

 

We can also see that property price rises in Mirabel have been higher larger than in Montreal over the preceding five years, suggesting that Mirabel’s real estate investment is a superior investment to Montreal’s real estate investment, as we see in the Longueuil example.

 

Furthermore, we can see that single-family properties and condominiums are roughly $30,000 less expensive in Mirabel than in Montreal, making real estate investment more affordable in Mirabel.

 

In addition, The property value increase rate in Mirabel is almost 30% greater than the rate in Montreal, demonstrating that Mirabel’s real estate investment is a far superior alternative.

Mirabel

 

Schools                                              

 

The Fraser institute ranks only one school in the Mirabel area, which is the High school Mirabel (École secondaire de Mirabel).

 

The school is unique in that Avianor, Airbus, Bombardier, and Pratt & Whitney are collaborating with the City of Mirabel to provide a free Aviation Training Program to all students at School Secondary De Mirabel.

Mirabel is an excellent neighborhood to raise a child who is interested in the aviation industry.

If we look at the school’s detailed evaluation criteria, we can see that it is ranked above average in all key indicators.

In addition, Mirabel has approximately 14 public schools. The city, in general, has a well-regarded school system that provides a variety of educational options for all ages of children.

 

Crime rate

 

Mirabel’s crime rate is lower than the national average, and it is substantially lower than Montreal’s.

 

Low crime rates are especially important for families with children who are frequently seeking safe and secure places to raise their children. This makes low-crime neighborhoods like Mirabel more appealing to families.

Source: Statistics Canada

Which is the better choice for real estate investment? Longueuil or Mirabel?

Longueuil and Mirabel both have advantages and disadvantages, and which one is a better choice for real estate investment will depend on personal investment goals and preferences.

 

For example, Longueuil may provide more varied career options due to a larger and more diverse industry, as well as a robust local economy and a good job market. Mirabel, on the other hand, may have lower crime rates and higher population growth, making it more appealing to families and potential investors, resulting in better property values and investment returns.

 

In terms of real estate inventory on sale, according to the Fourth Quarter 2022 data of the Quebec Professional Association of Real Estate Brokers, Longueuil has a larger residential property inventory than Mirabel in the last 4 months and 12 months.

 

Longueuil’s larger residential property inventory suggests that you are more chances to find your dream property in Longueuil than in Mirabel.

Ultimately, the ideal decision for real estate investment will be determined by a variety of criteria, including personal goals, market conditions, and the investor’s specific needs and preferences. Before making any investment decisions, it is critical to conduct an extensive study and examine all relevant factors.

Please read this article on the Quebec welcome tax you must pay after acquiring a house and how you might avoid it.