Buying a house is the dream of many Quebecers. In a new study, HelloSafe reveals how much you need to earn to buy a 100 m2 house in the different regions of Quebec. It appears that:
– In Montreal, you have to earn $251,000 gross annually to be able to afford a 100 square metre house
– Conversely, in Côte-Nord (the North Shore), the gross annual salary required to buy this type of property is only $43,000 – the lowest amount in Quebec.
– On average across the province, households must have gross annual incomes of $91,448 to purchase a 100 square metre home.
For more information, take a look at the entire study at : https://hellosafe.ca/assurance-hypothecaire/carte-maison-salaire.
HelloSafe’s Calculation method: the price data per square meter are valid for May 2023. Our calculation is based on the assumption of a mortgage loan taken out in Quebec with a personal contribution of 5%, at a fixed rate over 5 years of 4.89%, over a total period of 25 years, with a debt ratio of 36% of net disposable income.
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