These findings are contained in a new study published Wednesday by the Quebec Professional Association of Real Estate Brokers (APCIQ), which paints an overall picture of the province’s condominium market.
The adoption of Bill 16, which regulates the maintenance and management of this type of property, has forced many syndicates of such buildings to significantly increase co-owners’ monthly contributions to reserve funds or introduce special assessments.
According to APCIQ’s analysis, median annual costs doubled—from $1,716 in 2015 to $3,432 in 2025. Strong demand also triggered a significant rise in prices over the same period: in a number of areas, the price per square foot for condominiums more than doubled.
In this context, the report’s authors ask: “Does this type of housing, long popular among first-time buyers, remain as attractive as it once was?”
From a financial standpoint, a condominium remains the most affordable option for buying a home, the study says.
Even taking into account the higher monthly costs in recent years, a condominium remains more affordable than an entry-level single-family home, notes APCIQ Deputy Director and Chief Economist Camille Laberge.
“For a first-time buyer who wants to become a homeowner, it’s a completely logical and rational choice,” Ms. Laberge said in an interview. She conducted the study together with analyst Renaud Cuché.
APCIQ compared the median monthly mortgage payment for an “entry-level” single-family home with the total monthly costs of a condominium (utilities plus the mortgage payment).
In many areas, an entry-level single-family home remains more expensive than the average condominium. In the Montreal metropolitan area, which accounts for 74% of condominium sales, total monthly condo costs come to $2,310 versus a $2,470 mortgage payment for a single-family home. In the Quebec City region, the figures are nearly equal: $1,765 versus $1,786, respectively. In the Trois-Rivières and Saguenay regions, the single-family home has a slight advantage—the difference is less than $100.
Maintenance costs
APCIQ reminds readers that owners of single-family homes must also budget for upkeep—just as condominium co-owners pay monthly fees for building maintenance. The difference is that for a single-family home, such a budget is not mandatory, Ms. Laberge emphasizes.
“When a buyer is looking at a single-family home, these costs are often underestimated, and the person thinks, ‘I’ll deal with it when the time comes,’” she says.
According to Canada’s Financial Consumer Agency, a homeowner should set aside 1% to 3% of the property’s value each year for repairs and maintenance—depending on the home’s age and condition. APCIQ also points out that “single-family homes for sale are generally older than condominiums,” which “in principle requires more frequent repairs and higher maintenance costs.”
The sharp rise in condominium upkeep costs is driven by inflation and new legislation. Nevertheless, APCIQ estimates that “this steep increase in condo fees is proportionate to the rise in prices” between 2015 and 2025.
Share of sales is growing
In terms of transactions, condominiums have strengthened their position over ten years in most regions. Across Quebec, condos accounted for 25% of residential sales in 2025, up from 20% ten years earlier.
After the construction boom in the early 2000s, the condominium market continued to grow thanks to urban densification. The shrinking average household size and the relative affordability of housing also contributed to the success of condominiums, APCIQ concludes.
At the same time, due to the effects of the pandemic and the spread of remote work, interest in condos is “less pronounced,” while demand for single-family homes “remains very high,” Ms. Laberge notes.
“However, in the long term, we believe condominiums will continue to gain popularity. This is the category of the future,” the economist is convinced, citing that land-use zoning will encourage densification as part of future housing construction.
