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Investors dominate Ontario real estate
Sponsored by West Red Lake Gold
Investors dominate Ontario real estate
Data from Statistics Canada for the year 2021 has shed light on the substantial ownership of real estate properties by investors across the country. The report indicates that investors own a significant portion of both condo apartments and houses, raising questions about the impact of this trend on the housing market and housing affordability in these regions.
The data reveals that as of 2021, investors own 43% of all condo apartments in Ontario, and a range of 14% to 21% of all houses. Additionally, investors have a stranglehold on newly constructed properties, owning 57% of all condo apartments built in the past five years and 16% to 33% of houses built during the same period in Ontario.
Moving to the Toronto region, the data indicates that investors hold 37% of all condo apartments and a range of 9% to 16% of houses. Again, newly constructed properties show a significant investor presence, with 57% of all condo apartments built in the past five years and 14% to 32% of houses constructed during the same period in Toronto.
You can read more on the matter here.
West Red Lake Gold Mines is a mineral exploration company that is dedicated to discovering new gold mines in the highly productive Red Lake Gold District of Northwest Ontario, Canada. This district has yielded 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits.
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