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Montreal building permits set record

Montreal building permits set record

The number of building permits issued in Montreal 2011 broke previous records, with the residential sector driving the growth, thanks to sustained demand for multi-family dwellings. New figures from Statistics Canada showed 12,532 residential permits were issued last year, beating the 2004 high of 12,325. The value of permits also spiked to an all-time high of $3.55 billion, half of that from the residential sector. The value for commercial permits shot up 50 per cent, despite a steady number of new permits compared with previous years. Last year the city declared that Montreal was seeing its biggest privately financed real-estate boom since Expo 67 and the 1976 Olympic Games. One year ago, the city had 162 construction sites. No fewer than 54 construction cranes dotted the Montreal skyline in November. Get the data Source: Statistics Canada via Montréal en statistiques