Will rising real estate prices force Canadian families into condos?

Singles compromise a major chunk of the condominium market at 45.5% of dwellers

As the dream of a detached home with a yard fades fast. one in eight households in Canada now live in a condominium, According to National Household Survey, 2011 released from Statistics Canada.

It’s the first time the federal agency’s National Household Survey looked at condominiums, including renters and owners, but the trend in the housing industry seems to be that condo living is on the rise in urban centers.

Also clear is the condo trend is having a significant impact on Canadian home ownership levels which continue to steady rise, reaching 69% of households in 2011, the year the survey was done. Only 60.3% of households owned a home in 1971

The condo trend has clearly impacted cities, with 76.8% of condo units in the 10 largest census metro areas. Cities such as Toronto, Vancouver and Montreal accounted for 53.5% of all Canadian households living in condominiums.

Singles compromise a major chunk of the condominium market at 45.5% of dwellers of non-family households.

Download and read full NATIONAL HOUSEHOLD SURVEY, 2011:   PDF version

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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