Building permits : a record year in the region of Montreal

QMI agency

Sunday, December 10, 2017 20:43

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Sunday, December 10, 2017 20:46

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The value of building permits has exploded this year in the Montreal region for breaking a record, according to data presented Sunday by the Montreal metropolitan Community (CMM).

It is expected to reach $ 9 billion by the end of the year, an increase of 25.3 % compared to last year. It is also 20% more than the average of the last five years for the region which includes the 82 municipalities of the Montreal island, the South Shore, the north shore, the region of Vaudreuil-Soulanges and Laval.

Increases in the value of permits the more marked are found in the residential multi-family, which includes condos, as well as the commercial sector, according to the CMM. These two sectors will reach the plateau of $ 3.9 billion and $ 2.2 billion respectively in 2017. The value of building permits for single-family home will rise to $ 1.4 billion, $ 1.1 billion for institutional and 520 million, respectively, for the industrial.

The greater Montreal region, is located this year in 2nd place in the country, behind Toronto for the value of building permits non-residential and in third place for the building permits, behind Toronto and Vancouver.

The middle of the building is also boosted by major projects such as the replacement of the Turcot interchange. The CMM points out that there are 248 projects of $ 5 million and more in progress in the montreal region. Their total value amounted to 28.3 billion $, of which 44% are captured by the sector of the civil engineering and highways.

These figures presented by the CMM are based in particular on studies of Statistics Canada, canada mortgage and housing and the Commission de la construction du Québec.