Canada Mortgage and Housing Corporation (CMHC) has released the results of its 2013 Condominium Owners Survey showing that 82.9% of condos are owned by their occupiers with 17.1% owned by investors.
“As information on condominium investment is rather limited at this time, CMHC has gathered new data on a segment of domestic condominium investment activity in Toronto and Vancouver. While the results are not representative of other markets or all types of investors, the survey helps to shed some light on the profile and purchasing motivations of a segment of condominium investors in Toronto and Vancouver,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.
The data shows that among the 17 per cent of owners that are investors, around half rent out their last-purchased properties. More than 42,000 households in the Vancouver and Toronto area were surveyed. The survey did not cover Canadian households that own condominium units in Toronto or Vancouver but do not reside in these CMAs.
Foreign investors and corporate investors are also not included but Bob Dugan said: “CMHC continues to explore opportunities to enhance the availability of information on foreign and corporate investment activities in the housing market.”
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