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Economic Viewpoint

Industrial Real Estate Is Booming in Montreal and Quebec CMA’s

July 18, 2018
François Dupuis, Vice-President and Chief Economist • Hélène Bégin, Senior Economist

Montreal’s industrial real estate market, which stagnated for many years, is experiencing a genuine boom. Demand is strong and supply remains fairly limited due to the high cost and scarcity of land, which limit construction, particularly on the island of Montreal. Development requiring wide tracts of land is being done mostly on the outskirts, whereas older buildings in the more central neighbourhoods are ripe for revitalization, giving some sectors a fresh start in a new direction. The market in Quebec CMA is also doing very well, despite the lack of available land. The redeployment of certain areas and the development of a few sites have met some of the industrial sector’s growing needs.