Latest CMHC Report Shows Condominium Investors Are in it for the Long Haul
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 04/05/16 --
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Condominium investors in Vancouver and Toronto display stable characteristics over time. Most are small-scale investors that own only one secondary unit, nearly one-half purchased their last secondary unit for rental income and most expect to own their investment property for more than five years, according to Canada Mortgage and Housing Corporation (CMHC) 2015 Condominium Owners Survey (COS) released today.
The annual report, focused on the Vancouver and Toronto Census Metropolitan Areas (CMAs), includes survey insights on what motivates condo purchases, how long owners hold onto their units, and the mortgage-financing profile of condominium owners whose primary dwelling is a freehold or condominium unit but who also own at least one secondary condominium unit. These households are referred to in the report as COS investors.
Report Highlights
COS investors, as defined by CMHC, exclude households that own only one condominium unit in which they reside, as well as households that own a secondary unit but rent their primary residence.
The complete COS report is available .
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As Canada''s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
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QUOTES
"COS investors in Vancouver and Toronto are generally in the market for the long term and expect to keep their last purchased secondary unit for more than five years. In addition, nearly 75 per cent own only one secondary unit and 90 per cent don''t anticipate purchasing more units over the next year."
The mortgage financing profile of condominium investors in Vancouver and Toronto is broadly similar to other Canadian homeowners. For example, the share of COS investors with a mortgage on their last purchased unit stood at 53 per cent, similar to the share estimated for all home owners in 2015."
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Contacts:
Information on this release for Toronto
Angelina Ritacco, CMHC Public Affairs
(416) 218-3320
Information on this release for Vancouver:
Lisa Ono, CMHC Public Affairs
(604) 737-4022
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Datum: 05.04.2016 - 09:00 Uhr
Sprache: Deutsch
News-ID 1426147
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