An eye-popping 27,166 condo units were rented via MLS last year in the GTA, a 19% increase over 2014 and a sixth consecutive record, according to Urbanation Inc. Activity at year’s end was “torrid,” the research firm notes, with total lease volume in Q4 up 26% year-over-year (5,628 units). Meanwhile, purpose-built rental apartment construction starts hit a 25-year high in 2015 (3,476 units), doubling the annual average since 1990, and 53 purpose-built rental buildings are planned (10,513 units). “Rental demand in the GTA grew to feverish levels in 2015 and developers have taken notice,” Urbanation SVP Shaun Hildebrand says.
Condo Rentals Soar, Purpose-Built Apartment Builds Hit New High
Continue reading this story with a free account
Log in or register
Related Topics:
Condo-rental
, Purpose-built rental apartments
, Shaun Hildebrand
, Toronto MLS
, Urbanation
)
)
)
)
)
)
)
)
)
)
)
)