Population Growth Drives Real Estate Rental Market

Canada’s strong population growth is the highest in the G7. With 80% of this coming from immigrants who typically rent before buying a home, this creates a strong base for rental apartments. This trend will continue; RBC Economic Research earlier this year said that the Canadian government is looking to boost its annual immigration targets, from 330,000 in 2019 to 350,000 by 2021.

While it has always been a stable asset class, the multifamily sector is now benefiting from market fundamentals that are as good as they have ever been and are unlikely to change for some time.

That’s good news for investors. If you are a renter, not such good news. The continuing lack of inventory will continue to drive higher rents and lower vacancy as supply remains constrained.

Are you looking to buy your own home or invest in property? Let’s start a conversation to see what you need.

References: 
https://www.canadianrealestatemagazine.ca/market-update/canadas-multifamily-market-has-never-been-stronger-says-cbre-303901.aspx

https://www.canadianrealestatemagazine.ca/news/vancouver-montreal-rental-demand-impelled-by-multiple-factors-303694.aspx