Economic context
Several clients have bought a property on which to build a second home; others have invested in a lot in order to speculate.
The continuous development of Tremblant Resort led to a real estate boom that quickly extended into neighbouring municipalities.
On the South side of the mountain, where the Resort stands, property prices have risen sharply in recent years. For example, in Saint-Jovite, which is now part of Mont-Tremblant, property values have more than doubled in just a few years.
This is why people are now looking for properties on the North side of the mountain, where prices are still affordable.
The new Intrawest project (a $1 million investment) on the mountain’s Versant Soleil will spur demand and boost property prices very rapidly. Infrastructures have already been built, as well as upscale condominiums.
The construction of the Ludoplex casino(without tables) (a $55 million project) on Versant Soleil is scheduled to begin spring 2008. This will be followed by a luxury hotel and a new village, which will be connected by a gondola(cable car) to the South side of Tremblant Resort.
In an investment context, we might compare this portrait to the Verbier ski resort in the Southern Swiss Alps. Because of the area’s exclusive reputation, the very rare pieces of available land are going for over 3,000 CHF/ m2.
This situation has resulted in supply and demand being shifted to the North side of the mountain. The price of lots at the North-side La Tzoumaz Resort, about 30 minutes from Verbier, currently stands between 200 CHF and 250 CHF/ m2, compared with 80 CHF and 100 CHF just two years ago.
In Quebec, we are seeing the same phenomenon at Tremblant Resort.
Evolution of prices
Intrawest has owned Tremblant Resort, in Eastern Canada, for 16 years and Whistler/Blackcomb Resort in Western Canada for more than 35 years. For comparison’s sake, after a sampling obtained from various Internet sites, the prices of properties for sale within a half-hour range of both resorts are: $741 CAN/ m2 in Whistler and $101 CAN/ m2 in Tremblant.
According to a real estate agent in Whistler, a property in that region worth $100,000 ten years ago is now worth $1,000,000.
The lesson here is that nobody should wait for Intrawest’s projects to come to maturity before investing in the Tremblant region!
|
Phil & Heather: from England, found us through google and after visiting the ranch in July 06, purchased a lot in Hemisphere Nord. They are presently having their dream home constructed. They hope to split their time between their new home in the Laurentian mountains and England. You can visit their BLOG at: www.granddesignscanada.info
Gilbert: from Switzerland bought a lot for investment in Hemisphere Nord in spring 06. Since then he now owns and operates B&B L'Ancestral in Sre Agathe des Monts, Qc. He plans on purchasing a 2nd lot, again for speculation or will build a home on his 1st property.
Declan, from Ireland, purchased a waterfront lot in Le Port D’attache Tremblant in spring 07. His lovely wife Bee and new baby Oisen will move to Quebec in spring 08 to overlook the construction of their new home. Their plan is to eventually immigrate to Quebec, buy and run a business in the Tremblant region.
Livio: "It is never too late!!! In November 2007 at the age of 84, Livio decided to invest with DTN. From France he purchased the last 2 remaining lots in Hemisphere Nord.
As his ambitions drive him forward, this summer he and his wife plan to visit the ranch and their 2 properties. |
