Rental investors bought half of GTA condos last year, but rents fall short, CIBC report says

Rental investors bought half of GTA condos last year, but rents fall short, CIBC report says

“Nearly half of all new condos sales that were finalized last year in the Greater Toronto Area were for rental purposes, but income from them could be falling short of ownership costs, according to a new study by CIBC.

Rental investors accounted for 48 per cent of new condo closings in 2017— with the majority of them buying the property through a mortgage at 77 per cent, according to the CIBC Capital Markets and Urbanation report released Friday”.

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