Canadian Multifamily Report
Canada’s multifamily market performed well in the first quarter, with a generally positive outlook for coming quarters. The apartment vacancy rate is inching down towards pre-pandemic levels due to strong demand, while rent growth is trending higher amid a shortage of housing in many Census Metropolitan Areas (CMAs). Coming off 5.7% GDP growth in 2021, the Canadian economy is strong, with most analysts forecasting growth to fall between 3.5% and 4.0% in 2022. Canada added 209,000 jobs in the first quarter, reducing the unemployment rate to 5.3% in March. Download and read the full report.
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