Vacancy rate for seniors’ housing down in key regions says CMHC

Seniors’ housing in Quebec, Ontario and British Columbia become harder to find in the past year.
CMHC says the vacancy rate in the sector decreased moderately in those three provinces, where the market is most prominent.
“The progressive decrease of the vacancy rate in private retirement homes reflects sustained demand. But while 18 per cent of Quebecers aged 75 years and older live in a retirement home, the others opt for alternative forms of housing,” Kevin Hughes, Regional Economist, Quebec. “It will be critical for us to understand the residential trajectory of baby-boomers as it will be a determining factor for the future of the housing sector and for society as a whole.”
For standard spaces, known as independent living, the vacancy rate was at its lowest since 2009 in Ontario (10.4 per cent) and in BC, where demand is particularly strong, it was 4.5 per cent decrease. In Quebec, the vacancy rate was 6.2 per cent.

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