Our friends over at Hawkeye Wealth brought this one to our attention. Some interesting insights on the tremendous rate of return on multi-family real estate investments. -ed.
Finding an apartment in Toronto has been notoriously tough. On the flip side, owning one of those apartment buildings is akin to hitting the jackpot. Commercial Real Estate Services Canada (CBRE) just released their Canadian Multifamily Mid-Year Update report and it’s a market segment in real estate that is flourishing. Multifamily properties include mid-to-high rise buildings, condos, student housing, senior apartments and mixed-use buildings.
Marked by low vacancies nation-wide and rental rates at 10-year highs, the multifamily segment shows no sign of slowing down. Rental prices for purpose-built rentals have actually grown by 4.4 per cent annually across the country and by 5 per cent in Toronto. Vancouver’s rental prices beat out…click here to read full article.