What are the buying and selling intentions of Quebecers in 2025?

The survey highlights the challenges and opportunities facing the residential real estate sector by analyzing the impact of economic trends on the behaviour of Quebecers. Along with buying and selling intentions, it also looks at housing preferences, the perception of environmental impacts, and the effect of homeownership measures.

Key Takeaways

• Young adults (18–34 years old) largely dominate buying intentions in Quebec.
• Despite rising prices, the desire to buy a home remains strong among Quebecers.
• Lower interest rates have had a positive effect on the buying intentions of 75% of potential buyers. 
• Nearly two-thirds (65%) of potential buyers are considering buying an existing property.
• Quebecers are open to considering the environmental impact when choosing a residence, but lack the tools to do so.
• Home selling intentions in Quebec remained relatively stable.
• Renting is seen as a temporary solution for young adults but as a long-term option for seniors.
• Renters are generally unwilling to make compromises to reduce their housing costs

Home Buying Intentions of Quebecers

Despite an uncertain economic climate, young adults remain determined to buy a home. However, their path to homeownership is challenging, which could lead some to abandon their plans.

Young adults under 35 have the strongest intentions of buying a home

Nearly half (45%) of 18-to-34-year-olds plan to buy a residential property within the next five years. This figure is significantly higher than those in the 35 to 54 age group (24%) and those 55 or older (9%).This trend highlights that, despite economic challenges, homeownership remains a priority for this generation.

What’s more, around half (52%) of those under 35 years of age planning to buy a home within the next five years would be first-time homebuyers. This underscores the importance of measures designed to help them achieve this goal.

Despite rising prices, Quebecers remain committed to buying a principal residence

Potential buyers expect to pay an average of $457,000 for a principal residence in 2024, up 4% from $439,800 in 2023.

“For the first time since 2020, the difference between the actual and expected purchase prices has narrowed, indicating a better understanding of market realities—still strongly favouring sellers—and a certain degree of resignation. The slowdown in inflation and the recent drop in mortgage interest rates have certainly played a role in this shift. In fact, 75% of potential buyers state that lower interest rates have had a positive effect on their intention to buy. The prospect of further rate cuts could certainly create new opportunities in the real estate market, as it encourages potential sellers to take action, especially considering that one third of mortgages will be up for renewal over the next 24 months,” explains Charles Brant, QPAREB Market Analysis Director.

On average, it takes prospective homebuyers four years to save for a down payment. The First Home Savings Account (FHSA) is gaining popularity, with 58% of first-time homebuyers planning to use it, compared to 46% in 2023.

Furthermore, measures to make first-time homeownership more attainable are generally well received:

• A large percentage of renters (62%) hoping to become a homeowner believe that increasing the withdrawal limit of the Home Buyers’ Plan (HBP) could encourage them to take the plunge.
• A total of 61% are of the opinion that extending the mortgage amortization period to 30 years would help them afford a home.
• Only 40% say that raising the price cap for insured mortgages would allow them to go ahead with their project.

A clear preference for existing properties

Nearly two-thirds (65%) of potential buyers are considering buying an existing property. The two main reasons for this choice are:

• More affordable prices (50%), especially among 18-34-year-olds (63%).
• Strategic location (35%), a key factor for buyers aged 55 and over (51%).

Just over half (51%) of Quebecers intending to buy a principal residence within the next five years plan on spending an average of $15,800 on renovating their new home. This trend reflects a desire to customize their property to suit their needs while enhancing its long-term value.

Growing interest in the environmental impact of housing choices

Quebecers are increasingly considering the environmental impact when choosing a home but lack the tools to properly assess it. Similar to 2022, more than four in ten Quebecers (43%) believe that their current real estate choices have no impact on the environment. 

Yet, more than half of Quebecers (56%) consider this issue to be important when it comes to choosing a home and its location. Here’s an overview of other environmental criteria important to respondents.

“Although the majority of Quebecers consider that the information available on environmental issues related to real estate is sufficient (56%), there is still room for improvement in terms of helping them make informed choices. This is precisely our commitment—to playing an influential role in building more sustainable living environments, especially at a time when we need to rapidly increase the supply of rental housing,” states Martin Raymond, President and CEO of Fonds immobilier de solidarité FTQ.

Intentions to Sell a Residential Property in 2025

The Quebec residential resale market is influenced by various personal and strategic factors that change depending on homeowners’ life stages and projects.

The resale market is marked by stability

Home selling intentions in Quebec remained relatively stable in 2024, with 14% of homeowners intending to sell within the next five years—a trend similar to the previous year.

However, the reasons for selling vary significantly based on age, financial situation, and personal circumstances. The primary motivation of young adults (18–34 years old) is to find a larger home to accommodate a growing family (19%), or simply to enjoy a newer (23%) or more spacious (35%) property.

In contrast, homeowners aged 55 and over are more concerned about simplifying their lives or freeing up capital for other projects. Many plan to sell before their retirement (58%), or due to age-related considerations (45%). Other reasons to sell include wanting a property that requires less maintenance (45%), or to downsize (27%).

Selling your home: a strategic financial decision

Beyond personal considerations, selling a property is also a strategic decision. Among potential sellers, 24% want to capitalize on financial gains from their real estate investment.

Moreover, 53% of potential sellers would postpone their sale if they cannot find a new property that meets their needs, while 28% would reconsider their plans if market prices dropped significantly.

To maximize their return on their investment, 61% of sellers plan to spend an average of $17,750 on renovating their home before listing it.

Rental market: a temporary choice for young adults, a permanent solution for seniors

Renters perceive renting differently depending on their age. More than half (51%) see it as a temporary phase and intend to move within the next five years. This proportion rises to 79% among 18- to 34-year-olds, primarily because 48% aspire to become homeowners. In contrast, 60% of renters aged 55 and over prefer to stay in their current rental, valuing the stability and simplicity that it provides.

This shift in priorities is also reflected among homeowners aged 55 and over. Among those considering selling their principal residence, 31% would be interested in renting, reflecting a desire to reduce the responsibilities associated with maintaining a property.

Top priorities: price, safety, and proximity

When it comes to choosing the location of a rental property, price, neighbourhood safety, and proximity to amenities and services remain the top three determining factors, as was the case in 2023. In addition to the location, renters also place great importance on the features of both the building and the rental unit:

• For the building: an efficient ventilation system, dedicated storage space, and a controlled access security system.
• For the unit: good soundproofing, a private balcony, and low energy consumption.

According to Jean Martel, SHQ President and CEO, the results of the Léger survey show that price is the top factor considered when choosing an apartment: “At the SHQ, we are intensifying our efforts to rapidly increase the supply of affordable rental housing to meet the needs of many Quebec households, for whom affordability is a major issue. With low vacancy rates virtually throughout Quebec, renters intending to move this year need to start their search early and, above all, find new rental housing before terminating their current lease. The SHQ is currently running an information campaign to help with this important step. Renters who need help in their search are encouraged to visit the website: Looking for Housing - Société d’habitation du Québec, and contact the housing search assistance service at their local housing office.”

Many renters are prepared to pay higher rent for more amenities. In fact, 76% of them would be willing to pay more for benefits such as a larger apartment, indoor parking, a more spacious balcony, or an additional room.

Little interest in moving or relocating to save money

To lower housing costs, 47% of respondents would consider living in a smaller residence, a result that is stable compared to 2023. Only 42% would be willing to move away from urban centres and local services to save money. Co-living is not very appealing, with only 13% of respondents prepared to share their rental property with another person.

The 2025 real estate market: Quebecers continue to adapt

The 2024 study on buying and selling intentions in Quebec provides insight into the 2025 real estate market trends. Despite current economic challenges, the desire to buy a home remains strong, particularly among young adults aged 18 to 34.

The real estate market is continually shifting, with falling interest rates, a growing focus on eco-friendly choices, and measures to facilitate homeownership. Ultimately, Quebecers are continuing to adapt to market realities while seeking solutions to balance their aspirations with their financial situation.

To learn more about the study, listen to the episode entitled Results of the Léger Study on Quebecers’ Buying and Selling Intentions, part of the Real Estate in Motion podcast series presented by the Quebec Professional Association of Real Estate Brokers (QPAREB).