51% of current investors and 23% of non-investors are considering buying an investment property before 2028
Despite higher borrowing costs in today’s post-pandemic real estate environment, the aspiration to own property for the purpose of investment remains strong. Twenty-three per cent of Canadians who do not own a residential investment property say that they are likely to purchase one in the next five years, and more than half of current investors say that they are likely to purchase an additional residential investment property within the same time period. Overall, more than a quarter of all Canadians (26%), current investors or otherwise, plan to buy an investment property before 2028.
Key highlights from the report include:
- 11% of Canadians currently invest in residential real estate
- 26% of all Canadians say they are likely to buy an investment property within the next five years (51% of current investors and 23% of non-investors)
- One-third of Canadian real estate investors (32%) own two or more properties
- Younger investors, those aged 18 to 34, are more likely to own more than one investment property compared to their older counterparts (aged 35+)
- 15% of Canadian residential investors do not own their primary residence; the majority of whom are aged 18-34
- Nearly one third of investors in Canada (31%) have considered selling one or more of their investment properties due to higher lending rates
Check out the data for the Royal LePage Real Estate Investors Report here:
If you’re considering making a move in 2023 or investing in the next few years, or would just like to know more about real estate in today’s market, contact me at 519-824-9050 ext. 235.