Investing in a plex on the South Shore in 2026: what the numbers say

The residential market is slowing, inventory is climbing, condos are taking 47 days to sell. And meanwhile, the plex is doing exactly the opposite. It's the segment I'm watching most closely this summer. Here's why.

The plex is holding up better than everything else

The May 2026 data from the QPAREB is clear. In the Montreal metropolitan area, the median plex price rose 6% year over year. That's twice the gain for single-family homes (+3%) and six times that of condos (+1%). The average selling time for a plex shortened to 39 days, while condos stretched to 47 days.

Yes, plex sales fell 5% in May. But supply remains thin: plex listings rose only 9%, versus 19% for condos. When product is scarce and rental demand stays strong, prices hold. That's what we're seeing, month after month.

Stable financing, and a CMHC program worth knowing

The Bank of Canada held its policy rate at 2.25% on June 10, a fifth consecutive decision without a change. The next announcement lands July 15. For an investor, that stability changes the math: you can project your mortgage payments without bracing for a surprise every quarter.

For buildings with 5 units or more, CMHC's MLI Select program remains the most powerful tool in the market. By accumulating points for rent affordability, energy efficiency or accessibility, you can qualify for a reduced down payment and an extended amortization. In practice, some deals get financed with less capital than a conventional quadruplex, which requires 20% down. That's often the difference between buying a 6-unit building and staying on the sidelines.

And cap rates?

For a plex in good condition in Montreal and on the South Shore, capitalization rates generally sit between 3.5% and 4.5% in 2026. That's not huge on paper. The real return comes from elsewhere: appreciation (+6% this year), principal paydown by your tenants, and the potential to optimize rents as units turn over. A building with below-market rents is often worth more than it looks, provided you know how to read the lease.

The commercial context: an important nuance

On the industrial side, the picture is different. The availability rate in Greater Montreal reached 6.5% in the first quarter of 2026 according to Colliers, near its fifteen-year high. Industrial asking rents are falling for a ninth consecutive quarter, per CBRE. For a tenant or an owner-occupant, that's a real negotiating window. For an investor, it demands selectivity: small, well-located spaces near transit corridors perform well; large footprints, much less so.

On the South Shore, the REM corridor continues to shape demand, for multifamily and neighbourhood commercial alike. A plex within walking distance of a station in Brossard, or a commercial space on a busy artery in Longueuil, no longer negotiates the way it did five years ago.

What this means for you

• You own a plex: your asset has gained about 6% in value in a year and sells in under six weeks. If you were thinking of selling to redeploy your capital, the timing is good. Get an evaluation before you decide.
• You want to buy: don't hunt for a bargain on the asking price. Hunt for the building with below-market rents or MLI Select potential. That's where the return is hiding in 2026.
• You're looking at commercial: the industrial market favours tenants and owner-occupants right now. For pure investment, stick to small, well-located spaces.

Want to look at a specific building together, in Brossard, Longueuil, Saint-Lambert, Boucherville or elsewhere on the South Shore? Request a free evaluation or write to me directly. I answer personally.