Data from the Canadian Housing Statistics Program shows majority of investment condos are owned by individuals and businesses who hold a minimum of three condos
problem by increasing competition and pricing residents out of the housing market, as well as driving up rates in the rental market. But aside from anecdotes of investors gobbling up dozens of condos, there has been little reliable information on their size and market concentration.
In Hamilton, Kingston, Kitchener-Waterloo region and Thunder Bay, more than 70 per cent of condos used as an investment property were owned by these larger-scale investors. In Toronto, the second priciest real estate market in the country, the proportion was 46.7 per cent.. In Abbotsford, the share was nearly 70 per cent, whereas in Vancouver, the country’s most expensive housing market, the percentage was 45.6 per cent.
Mr. Doucet said he has heard anecdotes of individual investors coming into a new building and saying, “I will take this whole floor.” CHSP defines an investor as someone who owns at least one residential property that is not used as their primary residence. Previous reports from CHSP show that more than 40 per cent of the condos in Ontario are investment properties and that investors own more than 80 per cent in smaller metropolitan areas such as Sarnia and Woodstock. Other reports show that non-residents own a fraction of the homes in Ontario and B.C.
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