Condo ownership is picking up speed across Canada. According to the 2016 census, nearly 1.9 million condominiums were occupied by Canadians in 2016. Between 2016 and today, you can bet that number has increased for a number of reasons.
In its most recent Housing Market Assessment and Outlook, Canada Mortgage and Housing Corp. warned of a continued “high degree of vulnerability in Canada’s housing market, fuelled by moderate overvaluation and price acceleration.”
While affordability plays a big part in condos’ rise in popularity, it’s not the only reason for their claim to fame.
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