Apartment & Condominium Construction in Canada - Industry Market Research Report

August 2020 •
45 pages •
Report ID: 4387103 •
Format: PDF

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Under construction: Fears of a national housing bubble will likely hurt the value of residential construction

Abstract

Apartment & Condominium Construction in Canada
The Apartment and Condominium Construction industry in Canada has flourished over the five years to 2019 as investment into residential housing poured in with expectations of high returns. The value of residential construction is the major indicator for investors in the industry. Its rise has spurred investment and lifted the industry after a sluggish performance right before the reporting period. Moreover, the apartment segment of residential construction has outpaced the rest of the sector as demand for apartments and condos has thrived. Early during the five-year period, new housing stock emerged as one of the greatest needs in many provinces. A growing urban population and falling unemployment levels have prompted growing demand for multifamily construction projects by young adults and retiring baby boomers wanting to downsize. As a result, demand for industry services remains strong in major metropolitan areas. The industry is expected to expand strongly over the five years to 2024 as single-family houses remain expensive and drive Canadians toward apartments and condominiums.

This industry constructs new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium- to high-density units (i.e. units not separated by a ground-to-roof wall). All of the complexes may be constructed for sale as condominiums or cooperatives or for rent as apartments. This industry does not include renovation construction, speculative builders or contractors that build on their own account for sale.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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