{"id":4908,"date":"2017-02-15T11:11:00","date_gmt":"2017-02-15T19:11:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4908"},"modified":"2017-02-09T14:08:43","modified_gmt":"2017-02-09T22:08:43","slug":"trends-that-could-make-2017-a-bigger-year-for-canadian-apartment-investment","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/02\/trends-that-could-make-2017-a-bigger-year-for-canadian-apartment-investment\/","title":{"rendered":"Trends That Could Make 2017 A Bigger Year for Canadian Apartment Investment"},"content":{"rendered":"<p style=\"text-align: justify;\">There\u2019s reason to believe investors may spend more money on income-generating purpose-built rental buildings this year than they did in 2016, suggests a real estate company with a portfolio of properties across North America.<\/p>\n<p style=\"text-align: justify;\">\u201cInternational migration, the aging population and gains in the national labour market will drive demand for multi-suite rental property,\u201d says Morguard in its 2017 Canadian outlook report.<\/p>\n<p style=\"text-align: justify;\">In terms of immigration as a tailwind for investment, Keith Reading, a Morguard research director, notes how newcomers to Canada use the rental market as a way to get a sense of their new surroundings before taking on the commitment of ownership.<\/p>\n<p style=\"text-align: justify;\">\u201cOften, they (newcomers) don\u2019t know the neighbourhoods very well so they don\u2019t want to necessarily make a permanent decision once they arrive, so quite a lot of new arrivals choose to rent and get used to the city,\u201d Reading tells BuzzBuzzNews.<\/p>\n<p style=\"text-align: justify;\">Rental apartments are also an attractive option for Baby Boomers as they downsize. An alternative to buying or renting a condo, Reading underscores the appeal of flexible accommodations for those heading into their golden years.<\/p>\n<p style=\"text-align: justify;\">\u201cA lot of people will head toward retirement age and they\u2019re still fairly healthy. They\u2019re not sure whether they want to go to a condo because with a condo you\u2019ve got to sell it\u2026 where an apartment, they can rent it typically on a one-year lease,\u201d says Reading.<\/p>\n<p style=\"text-align: justify;\">Then there\u2019s job creation for younger Canadians. \u201cWe\u2019ve seen enough progress in youth employment to drive demand for apartments,\u201d Reading observes.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat typically happens when your economy is fairly healthy, you tend to get people that are willing to leave home,\u201d he says. \u201cPerhaps they don\u2019t have a downpayment for a house or a condo, though they choose to rent first,\u201d Reading adds.<\/p>\n<p style=\"text-align: justify;\">Last year from January to September, investment in Canadian multi-suite residential properties totalled more than $4.5 billion across nine major markets (Vancouver, Calgary, Edmonton, London, the Waterloo region, Toronto, Ottawa, Montreal and Halifax). Morguard only includes properties that sold for at least $1 million.<\/p>\n<p style=\"text-align: justify;\">Dollarwise, investment was greatest in Vancouver, where $993.1 million worth of multi-suite residential property traded hands, edging out Montreal\u2019s $969.2 million tally and Toronto\u2019s total of $870.3 million.<\/p>\n<p style=\"text-align: justify;\">Whether 2017 is a bigger year for investment doesn\u2019t hinge on investor interest, Reading suggests. \u201cThere\u2019s certainly the demand to make it a bigger year,\u201d he says.<\/p>\n<p style=\"text-align: justify;\">\u201cThe question will be is there the supply of product, and that\u2019s always been the case \u2014 or at least has been the case for as long as I can remember.\u201d<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2017\/02\/3-trends-2017-canadian-apartment-investment.html\" target=\"_blank\">Trends That Could Make 2017 A Bigger Year for Canadian Apartment Investment<\/a> by Josh Sherman | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s reason to believe investors may spend more money on income-generating purpose-built rental buildings this year than they did in 2016, suggests a real estate company with a portfolio of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/02\/trends-that-could-make-2017-a-bigger-year-for-canadian-apartment-investment\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-4908","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trends That Could Make 2017 A Bigger Year for Canadian Apartment Investment &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/02\/trends-that-could-make-2017-a-bigger-year-for-canadian-apartment-investment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Trends That Could Make 2017 A Bigger Year for Canadian Apartment Investment &#8226; 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