Griffintown is “absolutely’’ a good investment, said Mathieu Collette, research director specializing in the new condo market.
Median price for a new condo in Griffintown is $450 a square foot, compared with $550 near the Bell Centre and $520 in Old Montreal, including all taxes.
The rate of condos bought for investment is about 20 per cent, aligned with the average of downtown Montreal.
“Considering you’re less than a kilometer from downtown Montreal, in a neighborhood that is being revitalized, the pricing is still reasonable in relation to the market,’’ Collette said.
“It’s a completely new district. It’s probably the trendiest area close to downtown. It’s close to Atwater Market, the Lachine Canal bike path, Old Montreal. You can do everything on foot. And now the major restaurateurs no longer go to St-Laurent Blvd. They go to Griffintown.”