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More Canadians opt to lease condos amid surging demand for rental market: Report - BNN Bloomberg

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More Canadians are opting to lease their condominiums as a surging demand for rental properties persuade individuals to hold onto their properties, according to a RE/MAX Canada report.

released Thursday, it found the condo market is “losing inventory to an attractive rental market, as would-be sellers simply opt to lease their units long-term.”

“So, while fewer sales have occurred in 2022, condominiums represented a greater proportion of overall sales, as buyers gravitated to affordable options to achieve home ownership.” RE/MAX Canada also found condo sales were down in the first eight months of the year in the Greater Vancouver and Fraser Valley, Greater Toronto, Ottawa and Nova Scotia housing markets.While many Canadians may be waiting on the sidelines for a decline in housing prices, Elton Ash, executive vice president of RE/MAX Canada, said the recent slowdown in sales doesn’t mean there will be a crash anytime soon.

 

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It's like generating $2,000 in rental income and losing $30,000 in value of condominium per month.

Keeping my last one of 10, don’t care about rent or mortgage rates. I like the expense deduction. But yet no one talks about that

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