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Condos for Sale: What You Need to Know

What is a condo?

A condominium (condo) is a large or small apartment in a building whose private areas belong exclusively to each co-owner.

Common areas, such as the garden, pool, gym, etc., are reserved for all co-owners.

The advantages of buying a condo

Affordability

Condos are generally more affordable than single-family homes, especially in large cities like Montreal.

Minimal maintenance

Common areas are maintained by the building manager, which is necessary.

Attractive amenities

Many condos for sale offer a gym, a pool, and concierge service. These are extras you won't find in single-family homes.

Location

Condos are often located near major centers, public transportation, universities, major businesses, and shops, making them a top choice for professionals and those who value neighborhood living.

Security

Condominium buildings often have a camera system and controlled access.

The Different Types of Co-ownership in Quebec

Divided Co-ownership

The most common form of co-ownership in Quebec. Main characteristics:

  • Each unit has its cadastral number
  • A declaration of co-ownership establishes the operating rules
  • The co-ownership syndicate manages the building
  • Co-ownership fees are mandatory and used for the maintenance of the common areas

Undivided Co-ownership

A less common but potentially more affordable alternative:

  • No legal separation of units (a single cadastral number for the entire building)
  • Co-owners own a percentage of the building
  • Generally governed by an indivision agreement
  • Often more challenging to finance (fewer mortgage options)

What are condominium fees?

Co-ownership fees are fees paid monthly by co-owners to cover the following:

  • Daily maintenance of common areas
  • Services (concierge, snow removal, etc.)
  • Building Insurance
  • Contingency fund (mandatory in Quebec)

These fees are calculated pro rata based on the surface area of ​​your condo, the services offered by the building, and the status of the contingency fund. In Quebec, the law stipulates that each condominium association must establish a contingency fund and a maintenance logbook. This fund is a crucial safety net used to finance unforeseen expenses related to the maintenance and major repairs of the building, such as repairs to the roof, facade, or other common areas.

Note: Since recent amendments to the law, each association must maintain an adequate contingency fund and an up-to-date maintenance logbook. These documents are essential to verify before any purchase!

Buying a condo is a good investment

Investing in a condo for sale can be a good investment, thanks to the rental income you could generate and the increase in its value year after year. This growth potential can instill a sense of optimism in potential buyers.

Caution: Consult the condominium declaration for rental restrictions. Many buildings limit:

  • Short-term rentals (less than 12 months)
  • The total percentage of units that can be rented

Condo or single-family home: make the right choice before buying

Featured Condo Single-family Home

Characteristic Condo Single-family home
Purchase price Generally more affordable Generally higher purchase price
Maintenance Covered by the condominium association Owner’s responsibility
Space Reduced living space More indoor and outdoor space
Amenities Common amenities (e.g., gym, pool) Private amenities (e.g., backyard, garage)
Privacy Close to neighbors More privacy and separation

Buying a Condo in 2025: A Step-by-Step Guide

1. Determine your budget and get pre-approved

Before you even begin your search, be sure to:

  • Calculate your borrowing capacity
  • Include condominium fees in your monthly budget
  • Include municipal and school taxes
  • Don't forget notary and inspection fees
2. Find the ideal location

Evaluate neighborhoods based on the lifestyle you're looking for, your workplace, nearby schools, etc.

  • Ville-Marie: To be at the heart of the action
  • Le Plateau Mont-Royal: For a trendy lifestyle
  • Griffintown: For a modern and dynamic environment
  • South Shore: For more space at a more affordable price
3. Carefully examine the condominium documents

These documents can reveal potential problems:

  • The declaration of co-ownership
  • The minutes of the meetings for the last two years
  • The syndicate's financial statements
  • The contingency fund study
  • The maintenance log
4. Professional inspection

Have the condo and the building inspected the professional inspection must cover the following:

  • Your dwelling
  • The general condition of the building
  • The mechanical and electrical systems
  • Signs of structural problems

Let's talk about your condo

Whether you have a condo for sale or want to buy one, I am here to help, advise, and guide you.

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Frequently Asked Questions

What is the average price of a condo for sale in Montreal and on the South Shore?

The average price of a condo varies depending on location and the region’s real estate market trends. However, according to the QPAREB, the average price of a condo in the first quarter of 2025 was $544,197 in the Montreal area and $421,786 on the South Shore.

Yes, condo values ​​are increasing. The average price of condos for sale on the South Shore of Montreal has risen by 67% over the past five years (source: QPAREB). On the Island of Montreal, condo prices have increased by 35%.