Buy a Condo and Get a Free Car?

A condominium developer in Montreal has come up with an interesting way of setting itself apart from its competition: giving away free cars with the purchase of a condo.

In very competitive markets, such lush incentives offer a way for developers to distinguish themselves. Incentives are not limited to cars either but also garages (which any condo dweller knows aren’t cheap) and other discounts.

The incentive featured here, a one-bedroom condo will earn you a free three-year lease of a Fiat 500 and a two-bedroom model earns you a Mercedes-Benz C-Class for two years.

Montreal, in particular has a saturation of condos for sale which should keep prices down and incentives up this year.

“The environment for home prices in Quebec, New Brunswick, and Nova Scotia will likely be shaped by ample inventory levels relative to sales,” Canadian Real Estate Association hief economist Gregory Klump said in a statement.

“The balance between the two indicates that buyers have an abundance of listings from which to choose in those provinces, which could keep pricing prospects in check until sales draw down inventories.”

Source: Montreal Gazette