Rental apartment builds up across Canada… except Toronto
November 11, 2022 By CBC News
As of September, construction has begun on 2,799 new rental apartment buildings in Calgary, Alta., the highest number on record, according to numbers from the Canada Mortgage and Housing Corporation (CMHC) show.
But Calgary isn’t the only city that’s seeing some shift toward rentals. In several big cities, the share of apartments being built for rentals, rather than condominium ownership, has grown in the first half of this year compared to the average for the same period in the previous five, according to CMHC numbers.
One exception is Toronto, where the share of rental construction dipped in the first half of 2022, which analysts say is likely due to the high cost of land.
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