Exceptional properties | The rise of luxury in the region

Exceptional properties catch the eye of Montrealers. In the Laurentians, a record residential sale has just been signed. What attracts this clientele looking for upscale addresses?

Sold for $7.9 million at the end of October, a property in Estérel holds the highest residential sales score in the Laurentians to date. The asking price for this luxurious home located on North Lake and offering some 10,500 square feet of living space – not to mention 3,000 square feet of garages and three elevators – was 8.5 million.

“The house was initially off the market, because our client just wanted to sell if there was an opportunity, without being in a hurry, because he had fallen in love with another piece of land,” explains Marie-Claude Bergeron, real estate broker. of Engel & Völkers who represented the seller with his colleague Samuel Larocque.

They therefore contacted luxury brokers in the sector. “In this restricted regional environment, there can be a potential buyer every five years, and this clientele shops for a house like a work of art; she is looking for a unique, very high-end product, signed by an architect or designer,” continues M^me Bergeron.

The buyers of this property were truly in love with it. “Before scheduling visits, I took the time to get to know my clients well to find the property that would perfectly fit their lifestyle,” says Joshua Jagermann, real estate broker for The Agency, who represented the buyers in this transaction.

Buy a lifestyle

Joshua Jagermann notes that most of his clients are primarily buying a lifestyle. “Luxury is something very personal which depends on the tastes of the person and their lifestyle. » However prestigious it may be, the interior of a house is no longer the only major attraction that wealthy people seek, even if most of the time, they favor turnkey properties so as not to have to do any work.

Some will prefer a large house perched on the mountain with a breathtaking view, but a smaller lot; others, a less spacious residence, but ski-in, ski-out.

Specific assets can become incentives to purchase, such as an office benefiting from a superb panorama or even a light tennis court (pickleball) – who is currently stealing the show on the tennis court. On the other hand, sunshine always remains an essential factor. “A very beautiful, dark house may be more difficult to sell than a less luxurious but bright one,” notes Mr. Jagermann.

Negotiations involving millions

For Mr. Jagermann, knowledge of the region and the client’s specific needs is fundamental to providing impeccable service. “This type of negotiation can be similar to the acquisition of a business, so it can be long and more complex than for less expensive houses. »

You have probably seen advertisements for luxury estates in regions close to 20 million in Quebec. Extremely rare, they are always traded at a discount of several million. For example, a residence in Magog put on sale for more than 18 million before the pandemic sold a few months ago for less than 12 million. “People who can afford to buy a property in the 20 million range will prefer to build to have a house that meets their dream in every way,” attests Joshua Jagermann.

In addition to the Laurentians, the Eastern Townships represent the largest luxury residential market in the region. Daniel Leblanc, real estate broker for Royal LePage Au Sommet, was able to note notable changes between before and after the pandemic, as in the entire real estate sector.

“In 2017-2018, there were 87 properties on the shores of Lake Memphremagog for sale and we had difficulty selling 5 per year. During the pandemic, we ran out of it! Even today, we have 18 luxurious houses for sale, but 14 whose prices vary from 4 to 9 million dollars have still been purchased over the past year,” explains the man who has among his listings a luxurious residence in Potton located at the base of Owl’s Head Mountain, with stunning views of the popular lake.

Among the assets of this turnkey house, completely redesigned and transformed in 2020: terrace with integrated swimming pool, boat garage, upstairs loft to accommodate guests, two private beaches and a permanent dock.

In Estrie, as in the Laurentians, buyers are mainly Montrealers who sold their property at a very good price and who have decided to retire or work a good distance from the city. “Most people will buy based on where their friends are, then those who like the sun rising will go to one side of the lake and those who prefer to see it set to the other,” notes Daniel The White.

Rolling out the red carpet… for the customer

Founder of the famous luxury real estate agency The Agency in Los Angeles, Mauricio Umansky suggested to his friend John Faratro the idea of ​​opening an agency in Quebec, after Ontario and British Columbia. This is how The Agency Montreal was born.

“There was a place for us in the luxury market and our approach is completely different from others. We are focusing on more lifestyle marketing,” assures Mr. Faratro, who has just put a property on the market in Sainte-Agathe-des-Monts at a price of $4.45 million. Located on the Nantal peninsula of Lac des Sables, the imposing residence has nine bedrooms, a triple garage and a large in-ground swimming pool.

Understanding the customer base and supporting them throughout the sales process represents the very essence of the company, according to Mr. Faratro. For him, whatever the amount of a transaction, the lock box principle is unacceptable. “It is essential to be present during the visits, because the collaborating brokers do not know the property entrusted to us for sale. »

He notes that the real estate market in general fluctuates less in Quebec than in the rest of the country. “It goes up less, but it goes down less too!” » And it’s not just Montreal, the Laurentians or Estrie: The Agency will work on development further away, in the Charlevoix region. To be continued…

At a Glance: Luxury Properties in the Regional Market