Greater Toronto Area Multifamily Report - 2019
The rising cost of home ownership, combined with a lack of rental supply, have driven the unprecedented growth in rental rates, combined with low vacancy
In 2019, the Greater Toronto Area (GTA) multi-residential investment market witnessed over $3.3 Billion in transaction volume, shattering the previous benchmark set in 2018 by almost $1 Billion. The year was capped off by the largest single multi-residential transaction in Canadian history, as Starlight Investments acquired 6,271 suites for $1.7 Billion in the Continuum REIT privatization, of which 4,708 suites were in the GTA, representing $1.44 Billion. Not only did volume transaction increase, capitalization rates continued to compress, and the average price-per suite reached a new historic high of $288,739.