Luxury real estate in Laval is a little known market, particularly amongst Montrealers. The mere thought of the 450 area code is enough to unnerve the average buyer who would rather live in the bustling metropolitan area of downtown Montreal. People equate living in Laval with living in another dimension, and because of this it is rarely one of the first places people think to move to. However, in recent years, several (often overlooked!) factors have contributed to growing Laval’s economy, and as a consequence, there are more and more affordable luxury real estate opportunities in Laval! Let’s go over some of the reasons for this..
1 – High profile property in Laval helps raise value.
You may have heard the recent story of Celine Dion’s Mansion selling for $25.5 Million! This is perhaps one the best examples of luxury real estate in Laval. Anything worthy of one of the greatest Canadian stars of all times definitely catches MY eye! The opulent estate is on its own private island and sports 6 bedrooms with 9 bathrooms, a pool and pool house, customized floors and ceilings and a stone vaulted wine cellar with a tasting room that seats ten. That’s right, a private wine tasting room. Anyone who says there is no luxury real estate in Laval clearly hasn’t seen this.
And this isn’t the only mansion in Laval either! Laval is full of castle-like luxury real estate, particularly concentrated in several key areas. Luxury real estate like this helps the entire city of Laval, because it increases the value of neighbouring areas, and therefore draws in more buyers and sellers. More buyers and sellers equate to higher property values, and the cycle begins. This trend has been going on for several years now, and is just one of many reasons why buying luxury real estate in Laval is a growing theme among Quebecers!
2 – You get more bang for your buck.
Buying luxury real estate in Laval is easier and more affordable than buying luxury real estate in Montreal. Since the city is often considered “second rate” when compared to its larger metropolitan cousin, luxury real estate in Laval is often undervalued and thus, profit margins are high for buyers and sellers alike.
There are several reasons why pricing of luxury real estate in Laval is lower.
- People incorrectly assume public transportation is inefficient in Laval
- People incorrectly assume Laval is very far away
- People don’t know of trending population growth
- People don’t know of rising property value
- People assume that Laval doesn’t have nice homes
- People assume waterfront property is unaffordable
- People have simply never been to Laval or seen Luxury real estate in Laval.
So let’s clarify a few things then, Laval IS a great place to buy luxury real estate. It has excellent connections to the highways so getting to and from downtown Montreal is no more complicated then getting up or down the Mont-Royal though rush-hour traffic, or going from NDG to berry-UQAM through summer constructions. One might even argue it is simpler to get to Laval. People who assume it is too far are also incorrect, a quick 15 minutes car ride and you’re there. For those of us without a car, the metro efficiently connects directly to several bus terminus locations in Laval, and the systems for consumers are all the same (OPUS Card compatible, same machines to buy ticket, etc ).
Another important, commonly overlooked factor is the growth trends. Laval’s population is growing 494% faster than Montreal’s!! This has a profound effect on the real estate market, including the market for luxury real estate in Laval. Implications include higher standard of living, more public services and lower prices for local goods and services. All of this contributes to increasing property value in the area, while simultaneously increasing affordability! The benefits are three-fold! Sellers can charge more, buyers can get more for their money, and everybody else benefits from the economic implications of these transactions. For this reason luxury real estate opportunities in Laval are on the rise!
3 – People (and companies) are taking notice.
Perhaps one of the best reasons to consider luxury real estate in Laval is that others are doing so as well. This is not a simple bandwagon argument; it is an argument that relies of a social proof of sorts. It is known that entrepreneurs and large companies put enormous amounts of resources into research in order to help make good business decisions. If companies, entrepreneurs, and millionaires (who intend on making a profit with their home sales) decide to buy luxury real estate in Laval, then it is safe to assume they know what they are doing. After all, none of the aforementioned entities are in the business of losing money!
Take for example the now infamous John Babikian. This millionaire, often called the Wolf of Montreal, made his living in same manner Leonardo Dicaprio’s Character made his, selling fraudulent penny stocks. He chose to build a Mansion in Laval that would copy the mansion from the movie Iron Man. This creation, a $13 million project, has been put on hold since the man in question has fled the country relating charges brought against him by the CRA. But hey , regardless of HOW you make your money, you still want to keep it once you’ve made it, and that means making smart investments. This is but a single example among countless others. A great deal of people who make a lot of money are interested in buying luxury real estate in Laval. We can infer from this that Laval is an excellent market for luxury real estate.
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