The Canada Mortgage and Housing Corporation has said in its latest rental-market survey that Toronto has the highest number of foreign investor-owned condos in Canada, but that the number is quite small – 2.4 per cent, with Vancouver coming in second at 2.3 per cent.
Other highlights from the report include:
- The average age of a first-time homebuyer in the GTA is 37.
- The average rent for a two-bedroom condo downtown is $2,285
- The average rent for a two-bedroom apartment is $1,238
- The average rent increase for a condo downtown is 8%
- The average rent increase for a condo in the GTA is 4.4%