The projected shortfall is based on the region's current development compared to projected rental demand, and the GTA isn't keeping pace. bildgta | FRPOFACTS | Urbanation | realestate realestatenews housing GTA Toronto housingsupply
, and policy recommendations from BILD and FRPO — forecasts that the region will experience a shortfall of approximately 177,000 units by 2031, as the proportion of rental households spikes by 58%.
With only 47,000 units projected over the next ten years, the report also underlines the need for a greater proportion of. In the GTA, new purpose-built rentals have contributed only 9% to the region’s total rental universe over the past ten years. Wilkes continues, “Purpose-built rentals represent a vital segment of the GTA and Ontario’s housing stock. They are dedicated rental housing and provide security of tenure. Unfortunately, we are just not seeing purpose-built rentals being built at the scale that is required. It comes down to the economics of building and managing these type of buildings.”
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