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Shrinking population expected to pose challenges to Montreal’s real estate

Lower international migration leads to projected decline
Quebec’s provincial statistical agency recently published population projections, which estimate that the population of the Montreal metropolitan area will shrink by around 100,000 people over the next 25 years. (Olivier Gariépy/CoStar)
Quebec’s provincial statistical agency recently published population projections, which estimate that the population of the Montreal metropolitan area will shrink by around 100,000 people over the next 25 years. (Olivier Gariépy/CoStar)
CoStar Analytics
July 28, 2026 | 12:40 P.M.

New population projections from the Institut de la statistique du Québec have a baseline scenario that notes a substantial downward revision to its international immigration targets, resulting in modest losses in greater Montreal over the next quarter-century.

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