RENTAL DEMAND IN CANADA From the city to the suburbs, demand for rental is robust Rental demand has been relatively stable and positive throughout the first few months of 2022, according to Morguard’s Director of Research, Keith Reading. Many renter families have been unable to access the ownership market, given the sky-high housing prices and limited supply. This has buoyed demand for rental accommodation and supported modest downward pressure on vacancy levels. At the same time, market rents remain at or near record-high levels in many markets thanks to the return of immigration and the easing of COVID measures. Suburban demand is also relatively robust, given increased work-from-home programs implemented by many private sector organizations.
Notable Q1-2022 Transactions Address
City
# of Units
Sale Price (Millions)
Sale Price/ Unit
Purchaser
1.
Plaza Towers, 45 Trayborn Dr
Richmond Hill
62
$24.0
$387,097
Q Residential
2.
Quebec Portfolio
Montreal/Laval/ Cote Saint-Luc, St Hyacinthe
516
$281.0
$544,574
CAPREIT
3.
507 Balmoral Dr
Brampton
55
$21.3
$386,364
Pulis Investments
4.
263-265 Dixon Rd
Toronto
352
$141.0
$400,568
Akelius
5.
265 Hymus Blvd
Montreal
135
$53.8
$398,321
Firm Capital
6.
1570 Lawrence Ave W
Toronto
87
433.8 M
$387,931
Pilus Investments
7.
3440 Saint-Elzear Blvd W (80% interest)
Montreal
139
$41.6
$373,770
RioCan REIT
8.
5 Mallory Gardens
Toronto
60
$27.9
$465,000
Akelius
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