Corporations account for much of the non-individual owners of
residential property in Canada, according to a new analysis by
StatsCan and CMHC.
“Corporation ownership [is] concentrated among real estate,
rental, and leasing industry and construction industry sectors,”
the study noted.“In both Ontario and British Columbia, the real
estate, rental, and leasing industry sector makes up the largest
proportion of corporations owning residential properties at 31.1%
and 23.4%, respectively.”
On the other hand, in Nova Scotia, the largest non-individual
owner is the construction segment at 28.8%, followed by real
estate, rental, and leasing at 25.2%.
“In all three provinces, the combination of construction and
real estate, rental, and leasing sectors represented approximately
half of corporations that owned residential property,” the study
added.
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All in all, B.C.has the largest proportion of non-individual
ownership of residential property.Around 9.8% of the territory’s
residential properties were owned by non-individuals, and this
ratio is even higher in locales outside the census metropolitan
areas (15.8%).
The rates in the province’s CMA’s showed considerable variance,
with Vancouver’s 5.6%, Victoria’s 5.2%, and Kelowna’s 7.6%.
Meanwhile, Ontario and Nova Scotia’s non-individual ownership
rates were at 7.4% and 7.9%, respectively.As for their largest
cities, Toronto’s rate was 4.2%, and Halifax