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Reinstatement of Montreal’s housing Subsidy Program

The Greater Montréal Real Estate Board (GMREB) welcomes the reinstatement of the housing subsidy program announced yesterday by the City of Montréal. You may recall that on July 14 the City suspended its grants to renovate and purchase properties because the Québec government had withdrawn its financing.

“Homeownership is an extremely important issue for the Greater Montréal Real Estate Board,” said Patrick Juanéda, President of the GMREB Board of Directors. “Our organization, and the municipalities, have an interest in that the conditions that are conducive to homeownership be in place, particularly for young families who are looking to buy their first home. We also believe in the importance of preserving Montréal’s built heritage,” he added. “We were disappointed to learn, a few weeks ago, that the Québec government had ended its financial participation in the Rénovation-Québec program offered by the Société d’habitation du Québec. The GMREB wishes to remind the government that the real estate market is an important component of the economy and that cutting programs that affect homeownership in Québec is not desirable – for buyers, for sellers, or for the province’s economy,” concluded Mr. Juanéda.