Vacancy Rate in Seniors' Residences Drops in Key Regions
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 05/31/17 -- The vacancy rate for seniors' residences decreased modestly over the past year in Quebec, Ontario and British Columbia, according to the regional released by Canada Mortgage and Housing Corporation (CMHC).
Our survey distinguishes between two types of spaces: standard and non-standard spaces. Standard spaces, also referred to as independent living, are those occupied by a resident paying market rent and who does not receive 1.5 or more hours of care per day. A non-standard space is one in which the residents are receiving at least 1.5 hours of care per day, spaces being used for respite and non-market spaces.
Given the unique nature of the seniors' residence markets across the country due to differences in provincial regulations, CMHC produces six provincial reports and one report for the Atlantic Provinces. This release highlights key storylines in Quebec, Ontario and British Columbia where seniors' housing markets are most prominent.
Highlights
Quebec
Ontario
British Columbia
This release includes a .
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Quotes
"The progressive decrease of the vacancy rate in private retirement homes reflects sustained demand. But while 18 per cent of Quebecers aged 75 years and older live in a retirement home, the others opt for alternative forms of housing. It will be critical for us to understand the residential trajectory of baby-boomers as it will be a determining factor for the future of the housing sector and for society as a whole."
Kevin Hughes
Regional Economist, Quebec
Canada Mortgage and Housing Corporation
"The vacancy rate for independent living spaces for seniors in British Columbia declined by almost 2 percentage points this year compared with 2016. While rising demand and operating costs have increased monthly rents, large price increases in the resale market over the past few years have supported some seniors' ability to move into independent living and heavy care spaces."
Keith Stewart
Market Analyst, British Columbia
Canada Mortgage and Housing Corporation
"The overall vacancy rate in Ontario reached the lowest level since 2001 as demand for seniors' housing has outpaced supply. Vacancy rates dropped in more than half of the Ontario markets in 2017. Many areas showed signs of pent-up demand due to greater demand growth than growth in supply."
Jean Sebastien Michel
Principal, Market Analysis, Ontario
Canada Mortgage and Housing Corporation
Contacts:
Audrey-Anne Coulombe
CMHC Media Relations
(613) 748-2573
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Datum: 31.05.2017 - 14:01 Uhr
Sprache: Deutsch
News-ID 545497
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contact information:
Town:
OTTAWA, ONTARIO
Kategorie:
Commercial Real Estate
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