Multifamily national report for Canada Q4 2023

Canada’s multifamily market maintained its strong performance through the end of 2023, and more of the same is on tap for 2024, given the supply demand dynamics. The national average in-place rent increased 6.5% year-over-year to an all-time high of $1,480, driven by robust increases in new leases. The national vacancy rate dropped to 2.7%, the lowest level in years. With immigration scheduled to continue full bore in coming years, demand for apartments will remain robust. Download the report to see the full details.