Montreal Condos are good value....it's official!!!!

Well heres a report which will come as no surpirse to professionals in the Montreal market. We have known for so long that Montreal gives the best real estate value in North America. Now it seems we give almost the best value globaly. Where else can you buy property in a world-class city at these levels?
Now it seems that the global community might wake up a little to the exceptional value that Montreal offers. We, as real estate professionals have to take advantage of this to maintain our market and bring the world to our doorstep.

The source of this report is Caldwell Banker.

PARSIPPANY, N.J., Dec. 1 /PRNewswire/ -- City living brings to mind a
fast-paced lifestyle, culture, fine dining and, of course, high-rise buildings
that make for gorgeous skylines. But how much money does it take to live in
the big city?
To provide some context for residential real estate prices using a
sampling of major cities worldwide, the Coldwell Banker(R) organization has
issued its first Global Metropolitan Condominium Home Price Comparison Study
(HPCS)(1). Conducted between July and October 2005, the study found that New
York City tops the list, ranking as the most expensive metropolitan city
surveyed, with an average condominium apartment price of $1,448,000. The most
affordable of the markets surveyed was Warsaw, Poland, where the average price
was USD$123,257.
The Global Metropolitan Condominium HPCS snapshot study evaluated average
prices in 34 metropolitan markets worldwide for condominium apartments 1,400
square feet in size, featuring two bedrooms and two and one-half bathrooms, in
buildings with at least 10 stories and a doorman(2).
"Increased recreational travel and career opportunities abroad have made
the world a smaller place," says Jim Gillespie, president and chief executive
officer, Coldwell Banker Real Estate Corporation. "There is an ongoing
exchange of Americans moving overseas and vice versa. This study, which
provides an 'apples-to-apples' comparison of metropolitan condominium
apartments globally, revealed that ownership in 15 of the markets evaluated
would cost less than USD$350,000, and that includes such major cities as
Montreal, Shanghai and Valencia, Spain."

The top five most expensive cities in the study include:

(Currency exchange rate as of 11/30/05, 12:43 p.m. EST)

Market
2005 Price in 2005 Price in
U.S. Dollars Local Currency
New York, New York $1,448,000
Boston, Massachusetts $ 981,250
San Francisco, California $ 975,500
Paris, France $ 966,089 820,000 euros
Seattle, Washington $ 712,000

The five most affordable cities in the study include:

Market
2005 Price in 2005 Price in
U.S. Dollars Local Currency
Warsaw, Poland $ 123,257 409,256 Polish zlotych
Jakarta, Indonesia $ 130,537 1.26 billion Indonesian rupiahs
Caracas, Venezuela $ 133,656 287 million Venezuelan bolivares
Mexico City, Mexico $ 175,122 1.85 million Mexican pesos
Montreal, Canada $ 176,306 205,890 Canadian dollars


Key International Markets (currency exchange rate as of 11/30/05, 12:43
p.m. EST)

Market
2005 Price in 2005 Price in
U.S. Dollars Local Currency
New York, New York $1,448,000
Boston, Massachusetts $ 981,250
San Francisco, California $ 975,500
Paris, France $ 966,089 820,000 euros
Seattle, Washington $ 712,000
Los Angeles, California $ 674,000
Atlanta, Georgia $ 589,750
Philadelphia, Pennsylvania $ 582,500
Madrid, Spain $ 582,219 493,908 euros
Washington, D.C. $ 569,475
Singapore $ 569,418 963,000 Singapore dollars
Sydney, Australia $ 512,326 693,000 Australian dollars
Amsterdam, The Netherlands $ 470,226 399,000 euros
Chicago, Illinois $ 467,375
Seville, Spain $ 459,548 389,969 euros
Miami, Florida $ 443,750
The Hague, The Netherlands $ 419,907 356,330 euros
Rotterdam, The Netherlands $ 385,733 327,330 euros
Brisbane, Australia $ 364,607 493,125 Australian dollars
Toronto, Canada $ 339,189 396,125 Canadian dollars
Shanghai, China $ 321,862 2.6 million RMB
(China yuan Renminbi)
Houston, Texas $ 321,092
Valencia, Spain $ 320,328 271,822 euro
Dallas, Texas $ 302,333
Gdansk, Poland $ 228,633 758,333 Polish zlotych
Krakow, Poland $ 228,633 758,333 Polish zlotych
Mumbai, India $ 207,152 9.5 million Indian rupees
Beijing, China $ 185,690 1.5 million RMB
(China yuan Renminbi)
Cairo, Egypt $ 178,587 1.03 million Egyptian pounds
Montreal, Canada $ 176,306 205,890 Canadian dollars
Mexico City, Mexico $ 175,122 1.85 million Mexican pesos
Caracas, Venezuela $ 133,656 287 million Venezuelan bolivares
Jakarta, Indonesia $ 130,537 1.26 billion Indonesian rupiahs
Warsaw, Poland $ 123,257 409,256 Polish zlotych


Methodology - 2005 Coldwell Banker(R) Global Metropolitan Condominium Home
Price Comparison Study:
Coldwell Banker Real Estate Corporation conducted its Global Metropolitan
Condominium Home Price Comparison Study by compiling survey data from Coldwell
Banker(R) offices throughout the world. Companies within the Coldwell Banker
system submitted data based on the average sales price of sold listings from
July through October 2005. Cairo and Paris were recorded from Coldwell Banker
office Web site listings on Nov. 11, 2005. The criteria for the Global
Metropolitan Condominium HPCS subject home is: condominium apartments 1,400
square feet in size, featuring two bedrooms and two and one-half bathrooms, in
buildings with at least 10 stories and a doorman.