The federal housing agency says the vacancy rate for such properties sat at 1.9% last year, down from 3.8% a year earlier
The Canada Mortgage and Housing Corp. says last year’s surging rental market left the country with the lowest vacancy rate for purpose-built rentals since 2001.
The fall reflects a widespread tightening CMHC saw in the rental market as immigration ticked upward and higher mortgage rates made it harder for renters to purchase properties.
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