Multifamily Real Estate Insights Podcast
The Real Estate Multifamily Insights Podcast is your trusted source for news, strategies, expert interviews, and actionable tips to grow your wealth through multifamily real estate, in Canada and beyond. Hosted by seasoned investor Sandy Mackay.
Challenges in Multifamily Real Estate and Rental Market Trends in Canada
In this episode, Sandy MacKay introduces the challenges and shifts currently facing Canada's multifamily real estate sector. He examines the financial viability of new developments amidst rising interest rates and compares industry trends to highlight areas of optimism. Sandy discusses rental market trends and the significance of multifamily housing permits in the current landscape. He also touches on regional developments and the importance of transit-oriented projects in shaping future growth. The episode concludes with Sandy's closing remarks, summarizing key insights from the discussion.
Key Points
- Rental apartment construction in Canada is facing significant challenges, with developers like RioCan scaling back their ambitions due to low returns and rising interest rates.
- Despite a growing demand for housing, particularly in major cities like Toronto and Vancouver, falling rents and high borrowing costs are threatening the financial viability of new rental developments.
- Transit-oriented development is emerging as a promising strategy to boost economic growth and create more livable communities, exemplified by the redevelopment plans for Stamford, Connecticut's train station.
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Transcript
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