Royal LePage’s Marie-Yvonne Paint sells Quebec’s most expensive condominium apartment in province’s history
This transaction also ranks third among the most expensive condominium sales on Canada’s MLS
MONTREAL, November 7, 2024 – Royal LePage® is proud to announce that Marie-Yvonne Paint and Samuel Demers, real estate brokers specializing in the luxury real estate market with Royal LePage Heritage, closed the most expensive condominium sale of all time in the province of Quebec in October. The sale also ranks in the top three largest condominium transactions in the country, according to information from the Multiple Listing Service (MLS).
“This record-breaking transaction is a testament to the exclusive nature of Montreal’s luxury real estate market, where discerning buyers and sellers seek not only prestige but a property that resonates with their unique lifestyle,” said Paint. “The sale of this penthouse highlights the strength and resilience of high-end real estate, even amidst shifting economic conditions. At this level, each transaction is an expression of the market’s distinctiveness, attracting a select group of individuals who value the finest in location, design, and amenities.”
Located in the heart of downtown Montreal, this 6,600-square-foot penthouse occupies more than half of the top floor of the Résidences Ritz Carlton.
The prestigious unit offers panoramic views of Mount Royal and the river from its 1,200-square-foot terrace.
An interior elevator connects both floors of the two-story unit.
The lower floor features three bedrooms with en-suite bathrooms and walk-in closets, a laundry room, a home office, a vast kitchen and dining room including a spacious breakfast nook, a double living room with gas fireplace, a bar area perfect for entertaining, and an oversized primary suite overlooking the St.Lawrence river.
The upper floor features a family room with multiple access points to the terrace, a fully equipped kitchen, and a workout room with sauna and full bathroom.
Overview of Montreal’s luxury real estate market
According to the 2024 Royal LePage Carriage Trade Luxury Market Report, Montreal’s high-end real estate market remains active. In the first eight months of 2024, the median price of a luxury property in the city of Montreal decreased 2.8 per cent year over year to $3,150,000. During the same period, sales activity increased 8.3 per cent. The entry-level price of a luxury property in Montreal is $2,500,000.
“Sales activity in Montreal’s luxury property market has experienced an upturn in the past year, despite both buyers and sellers taking a wait-and-see approach to the economy and housing market. As interest rates decline steadily, high-end purchasers feel more reassured about making important financial decisions, such as buying a home,” said Paint. “In light of rising construction material costs and skilled labour shortages, buyers are seeking turnkey properties with limited renovations required, and are waiting for the right product to be listed. Sellers, on the other hand, are equally patient, holding firm on their asking price, resulting in higher luxury housing inventory compared to pandemic levels.”
Paint expects Montreal’s luxury market to post steady growth during the fall and into the spring market, with stabilizing inflation and falling interest rates fueling overall optimism among buyers.
Download high-definition photos of 1280 Sherbrooke St. W., Apt. PH-1400.
About Royal LePage
Serving Canadians since 1913, Royal LePage® is the country’s leading provider of services to real estate brokerages, with a network of approximately 20,000 real estate professionals in over 670 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage® Shelter Foundation™, which has been dedicated to supporting women’s shelters and domestic violence prevention programs for 25 years. Royal LePage is a Bridgemarq Real Estate Services® Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca.
Royal LePage® is a registered trademark of Royal Bank of Canada and is used under licence by Bridgemarq Real Estate Services® Inc.
For more information:
Jillianne Gignac
Hill & Knowlton pour le compte de Royal LePage
Jillianne.Gignac@hillandknowlton.com
514 929-6170
