Multifamily continues to grow in Canada as rental markets remain strong

Daily News
Written By James Lee


Investors continue to pour money into multifamily housing in Canada. 73.2% of building permits issued in 2021 are multi-unit building permits. In the first half of 2021, the multifamily market saw $7.1 billion in sales.

The rising cost of homes impacts the composition of homeowners versus renters in Canada. Between 2011 to 2021, the percentage of Canadians who are homeowners dropped from 69% down to 66.5%. In the same time frame, the number of renter households has increased by 21.5%. As of 2021, 33.1% of Canadian households are renters.

Rental markets have remained strong in Canada for many years now, except for a brief period during the pandemic. The number of purpose-built rentals grew by 400,000 units from 2010 to 2020 compared to 14,000 units between 1990 to 2010.

 
 
James Lee

James Lee is a writer and editor for PropertyManagement.ca. James has long had an interest in real estate and property management. He writes, edits and fact checks articles every day, ensuring readers get the clearest, most accurate information on Canadian real estate, investment and property management.

Previous

Home prices have dropped since February - but mortgage payments are still higher?
Next

Inflation slows for another month but not enough to stop interest rate increases.