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More than half of Montreal residents are willing to pay more for green housing

Almost 60% of owners and future buyers in Montreal would be willing to pay a premium for a home with a low environmental impact, according to a recent consumer housing choice survey.

In Montreal, 59% of owners and future buyers and 56% of renters would accept to pay a premium to access housing with a low environmental impact.

Only 34% of buyers in Greater Montreal would think they had enough information to assess the environmental impact of a building, and 72% would like standardized evaluation criteria to assess its environmental responsibility, according to the Leger survey.

Tenants are even less likely (28%) to feel they have enough information about a building’s sustainability.

A building’s energy performance will be the first criterion for assessing the property’s sustainability. The owners then consider the durability of the materials and a location that reduces car transport.
For tenants, the second criterion will be a location that promotes active transport, and the third the quality of materials.

“People need more information to make better environmental decisions when buying or renting a house,” said Martin Raymond, Senior Vice President, Real Estate Investments, Fonds immobilier de solidarity. With the right tools, people will be able to make informed choices that will benefit the environment, our society and future generations.”

This year, the survey added soundproofing to the selection criteria for apartments and condominiums. This new criteria is at the top of the attributes searched for a condominium or rental unit.

This year, only 24% of Montreal households would consider buying a property within the next five years.

Despite the uncertainty and rising interest rates, 13% plan to buy a property in the next two years, at the same level as in 2021.

“The rapid increase in prices over the past three years in the Montreal CMA and the sharp increase in interest rates in 2022 have had a negative impact on the purchase intentions of the youngest buyers,” said Charles Brant, director of APCIQ’s market analysis department. .

The household budget allocated to the purchase of a property increases from $440,000 to $458,000.

On the renter side, 28% said they rent because they can’t buy in their neighborhood. They were 22% a year ago.

High rents and housing shortages would encourage renters in Greater Montreal to stay put. Only 49% want to move within five years, while in 2021 59% planned to change apartments in the same period.

More than nine out of ten Montrealers who commute are satisfied with it and find the experience positive, even very positive.
In 2021, satisfaction was 88% and 84% in 2020.

Thanks to telecommuting, metropolitan residents would save approximately $133 per month, and 63% of them would save more than an hour of transportation per day.

The Léger survey was conducted by Fonds immobilier de solidarité FTQ, Société d’habitation du Québec, Professional Association of Quebec Real Estate Brokers (APCIQ) and Service de l’habitation de la Ville de Montréal with 6,755 respondents.



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