Students and neighbourhood groups are raising their eyebrows over the high-end living property developers seem to be suggesting, as the latest student housing trend in Canada.
 
Waterloo, Ontario is one of the neighbourhoods where these high-end high-rise housings are erect. These student housing spaces, also called “student condos”, commonly come with yoga studios, tanning beds, movie theatres, billiard rooms and rooftop patios.
 
“The idea of luxury living as a student is kind of mind-boggling. I can’t imagine tanning in between classes,” said Tyler Valiquette, a graduate of the University of Guelph in Ontario.
 
Valiquette said rents in the new buildings are likely to be $700 to $800 a month per person, a price which should help investors get their money back.
 
“The emergence of these buildings with hundreds of units could really affect rent prices in Guelph, so that’s a huge concern,” he added.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate