Finder’s “Generation Rent” survey suggests that Canada’s rental market will flourish in 2022
A new survey conducted by the financial research firm Finder, known as “Generation Rent,” revealed that a majority of Canadians 18 or older are opting out of homeownership. In a similar survey conducted in 2019, Finder reported that a significant number of Canadians reported no interest in owning a home. Two years later, the survey suggests a sentiment increase of 60%.
Why are Canadians Opting-Out of Homeownership?
The spike in interest rates together with lack of affordable supply are causing more and more Canadians, especially younger generations, to consider renting as a long-term housing solution.
What the Survey Reveals:
The recent survey focused on Canadians with home-buying intentions. The results revealed that only 1 in 10 Canadians remain optimistic about becoming a first-time home buyer within the next 5 years against the backdrop of interest rate hikes. On the other hand, 29% expressed that “renting forever” is a far more realistic option, with 16% of Canadians stating they were no longer interested in ownership, and another 13% expecting to rent for the rest of their lives.
Ramona King, senior finance editor at Finder.com, said “for many, the erosion of housing affordability combined with rising mortgage costs, means the barriers to homeownership appear almost insurmountable – and it’s turning a generation of Canadians into forever renters.”
What this means for Cacoeli:
Multi-family rental housing projects have been, and continue to be, our real estate investment strategy. For over two decades, Cacoeli has focused solely on rental properties in Ontario’s strongest primary and secondary markets. To date, we own and operate over 250 square feet of GTA rental real estate. Our experience has granted the opportunity to familiarize ourselves with the most valuable GTA market trends, planning departments, and local trades personnelle.
Finder’s survey suggests demand for Cacoeli’s asset type is only growing. Cacoeli already has a foot in the door to Ontario’s rental market industry, and we will use this to our advantage in the pursuit of further rental real estate investment projects.
Are you an ultra high networth individual, institutional and/or family office investor looking to tap into Ontario’s growing rental market?
Cacoeli’s Multi-Residential Opportunity Fund is a great opportunity to do so. Made up of 4 properties located in Ontario’s hot-markets, Toronto, Kitchener and St.Catharines, the fund expects to generate a target net IRR of 18% within a 4 year investment term.
Get in touch with one of our team members to find out more!
Read more about Generation Rent here:
https://www.westerninvestor.com/british-columbia/nearly-a-third-of-canadians-say-they-will-rent-forever-new-survey-5563163