Increase in plex sales in the last year

The craze for rental properties with two to five units, commonly known as "plex", is not declining in Quebec, according to recent statistics from the Quebec Federation of Real Estate Boards (QFREB) compiled via the Centris system.

In fact, during the period from June 2017 to May 2018, 7068 plexes were traded in Quebec, an increase of 4% over the same period last year. In the Montréal metropolitan area, the increase was 6%, for a total of 4413 plexes sold during the last year.

In the Québec City metropolitan area, 542 plexes changed hands during this period, a slight increase of 1% compared to a year ago.

"Plexes, because of the rental income they generate, are undeniably attractive to small investors. They are also an interesting option for households wishing to settle in a central district of a large city, "says the QFREB.

If so many plexes have been purchased in the past 12 months, it is that there are just as many owners who considered it was the right time for them to sell, notes CORPIQ .

Faster sales in the Montreal region

On average, two- to five-unit buildings sold in Quebec in the last 12 months in 100 days, four days faster than during the same period last year. The sectors where plexes sold the fastest are the island of Montreal, in 73 days (-9 days), Laval, in 83 days (-15) and the South Shore of Montreal, in 85 days (-13 ).

In Gatineau, a plex found a taker in 95 days on average (-7), while in Trois-Rivières, the time to sell was 105 days (-15).

For the Quebec City region, it took an average of 120 days to sell a plex, a 12-day increase over last year. In Sherbrooke and Saguenay, the number of days was 135 (+9) and 144 (+17), respectively.

According to the QFREB's comparative data, single-family residences sold in 109 days on average in Quebec between June 2017 and May 2018, while 112 fell for condos.