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Canadian apartment rents rise as demand outstrips supply

Posted on 13 June 2011

Demand is outstripping supply in the country’s apartment rental market, pushing the national vacancy rate lower and making it more difficult for renters to find accommodations, Canada Mortgage and Housing Corporation reported Thursday.

The vacancy rate fell to 2.5% in April from 2.9% a year earlier, the national housing agency said“Immigration continues to be a factor in supporting rental housing demand. Recent immigrants tend to rent first before becoming homeowners,” said Bob Dugan, CMHC’s chief economist………………………………………Full Article: Source


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