Montreal home sales increased by 10% in June, driven by hot condo market

The GreaterMontrealReal Estate Board says area home sales increased by 10 per cent in June, driven by a hot condo market.

There were 3,952 properties sold last month, the highest level for June in eight years.

• Hot condo market helps Montreal set new record for May home sales

The data comes amid concerns that a 15 per cent foreign buyers' tax in the Greater Toronto Area could have a spillover effect on Canada's second-largest city.

Quebec's finance minister has said he has no plans in the near term to introduce such a tax since foreigners accounted for only about 1.5 per cent of allMontreal-area sales in the first nine months of 2016, according to the Canada Mortgage Housing Corp.

Housing sales in June were aided by a 17 per cent increase in sales on the Island ofMontreal.

Condominium sales were up 20 per cent, marking a steady increase for a second consecutive month, while sales of single family homes rose four per cent.

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