The leader of Ensemble Montréal and candidate for mayor of Montreal, Soraya Martinez Ferrada, committed on Sunday to putting in place measures for citizens who wish to acquire their first property in the metropolis.
This announcement comes in a context where more and more young people are leaving Montréal, as becoming homeowners has become increasingly difficult for them.
Ensemble Montréal therefore wishes to allow young families to stay in the metropolis and to settle there in a sustainable way.
Commitments
An administration led by Soraya Martinez Ferrada will completely review the Homeownership Assistance Program and work with the SHDM to deploy measures that respond to the current needs of Montrealers.
- Offer financial assistance equivalent to the “welcome tax” to first-time buyers of a new property whose value is below a predetermined threshold, for the first two years of the mandate.
- Help first-time buyers gather their down payment when purchasing a new property whose value will be below a predetermined threshold.
These two measures will support the purchase of a first new property and stimulate the supply of housing in a context of a housing crisis.
In addition, Ensemble Montréal would study the possibility of introducing two other initiatives whose objective would also be to facilitate the purchase of a first property:
- Develop a “Tenant to Owner” program allowing tenants to invest part of their rent into a down payment, with the goal of permanently acquiring their housing.
- Put in place measures to support the creation of homeowner housing cooperatives and thus work on affordable properties.
These measures are added to the commitment already made by Ensemble Montréal to create “Family Homeowners,” a program for access to property dedicated to families.
Furthermore, Ensemble Montréal commits to maintaining its promise allowing first-time buyers to spread out the payment of the welcome tax into 12 installments, without interest, when purchasing an existing property.
Quotes
“Young people are leaving Montréal because they are not able to buy a first property here. However, these young people are essential to the dynamism and vitality of the city. That is why we are committing to putting in place measures aimed at facilitating access to a first property.”
— Soraya Martinez Ferrada, leader of Ensemble Montréal and candidate for mayor of the metropolis
“We must facilitate access to property in Montréal. We want to retain families. And if they leave an apartment for a property, it could also have an effect on the other crises affecting the metropolis, such as homelessness.”
— Sylvain Gariépy, spokesperson for Ensemble Montréal in housing and urban planning, and candidate for mayor of Villeray–Saint-Michel–Parc-Extension
