Greater Montreal Real Estate Board

Greater Montreal Real Estate Board

May 30, 2014 09:37 ET

Greater Montreal Real Estate Board Welcomes the Adoption of the Acquisition d'une propriete Program by the Coderre Administration

ÎLE-DES-SOEURS, QUÉBEC--(Marketwired - May 30, 2014) - The Greater Montréal Real Estate Board (GMREB) welcomes the adoption by the Coderre administration of a regulation that will allow it to continue implementing the Plan de fidélisation des familles 2014-2017 (Plan to keep families in Montréal) by strengthening its homeownership program in the Montréal territory, among other measures.

As part of the monthly city council meeting, members of city council adopted this week a proposed regulation aimed at amending the regulation previously in force in order to expand the clientele and residential products eligible for the financial aid program and the refund of the City of Montréal welcome tax. For example, the program will now be available to households with children who are already homeowners in Montréal and who want to purchase a larger home to accommodate their family. The program also provides for the inclusion of existing single-family homes whose price does not exceed $400,000 for first-time buyers who have children under 18 years of age.

At the same time, city council also enhanced the Rénovation à la carte and Rénovation résidentielle majeure programs in order to facilitate access for Montréal residents, particularly those who are beneficiaries of the Acquisition d'une propriété program.

"The City recognizes the importance of the homeownership issue for Montréal, and I applaud the speed at which mayor Denis Coderre and his administration took action in this dossier," said Diane Ménard, Vice-President of the GMREB Board of Directors. "Real estate brokers, whom I represent, are pleased to see that he has already met some of his commitments in this regard. Brokers want the mayor to continue implementing initiatives that will be more inclusive in order to make more room for existing properties that would be eligible for these programs," she added.

About the Greater Montréal Real Estate Board

The Greater Montréal Real Estate Board is a non-profit organization with close to 10,000 members: real estate brokers. Its mission is to actively promote and protect its members' professional and business interests in order for them to successfully meet their business objectives.

Contact Information

  • Manon Stebenne
    Manager, Communications and Public Relations
    Greater Montreal Real Estate Board
    514-762-2440, ext. 157