The notion of a Parti Québécois majority government has many up in arms, but as the Montreal Gazette reports, the link between politics and real estate in the province is not quite clear.
At the beginning of the campaign trail, there appeared to be a “PQ effect” on the city's real estate market, resulting in decreased sales. But as the Liberals took the lead in the polls, the market seemed to recover.
A recent report from Sotheby's showed that political uncertainty could be the defining factor in Montreal until 2015. However, a local expert notes refutes that claim, stating that politics have very little to do with market performance.
“It isn’t clear that there really exists a link between political uncertainty caused by elections and the real estate market,” says JLR Immobilier's Jérôme Lacasse. “Nevertheless, the data collected from times of great political upheaval give the impression that the real estate market is sensitive to this kind of uncertainty.”
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