Real estate experts bullish on built-to-rent market
Real estate experts are bullish on built-to-rent properties, a market that they say will be sorely needed as home prices in major cities continue to skyrocket and immigration ramps up.
A panel of real estate experts discussed the issue of rental properties for the first Canadian-centred episode of Common Knowledge.
Benjamin Tal, deputy chief economist CIBC Capital Markets, explained that continued affordability issues in large Canadian markets like Vancouver and Toronto have him bullish on building rental properties.
“Supply is not keeping up with demand and there is considerable demand for rental as it becomes more and more difficult for young Canadians to get into the market,” said Tal.
He added Canada will soon raise its immigration targets to 410,000, Canadians abroad are returning home, foreign students are stranded. This all adds up for high demand for rental housing,…