Kanada baut viele Mietwohnungen auf – und verliert das Interesse an Eigentumswohnungen
https://www.theglobeandmail.com/business/article-rental-housing-boom-condos-decoder-apartments/?utm_medium=Referrer:+Social+Network+/+Media&utm_campaign=Shared+Web+Article+Links
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‚Mike Moffatt, founding director of the Missing Middle Initiative, credited the federal government for this resilience. He pointed to a couple of initiatives from CMHC, such as the Apartment Construction Loan Program, and Ottawa’s decision to scrap the GST from new purpose-built rentals.‘
Good to see CMHC take action. In the past 12 months to June new rental unit starts were double the amount of condos.
Good. The condo obsession has been an absolute disaster and resulted in ‚housing‘ that isn’t worth the materials its built from. It’s clear a lot of them, if you’ve ever been unfortunate to tour them, were not built for human habitation in mind and so I can only assume were made as investment vehicles b/c I don’t know what else it would be.
The federal government and CMHC policies are having the intended effect on increasing supply of more affordable rental options.
“The Rental Construction Financing initiative is specifically designed to incentivize the construction of purpose-built rental housing and increase the supply of housing where it’s needed most. It does this by providing fully repayable low-interest loans to developers.
The traditional real estate market has typically favoured higher-end condominiums over purpose-built rental housing for middle-income households.
Without any financial incentives, it’s more attractive and less risky for developers to build luxury condominiums than to build purpose-built rental housing for middle income households.
This approach, however, does not address the widespread need for more rental housing and has led to unbalanced markets, especially in larger cities.
The Rental Construction Financing initiative is designed to fill this gap. The result? More rental housing that meets the needs of middle-income Canadians.”
https://www.cmhc-schl.gc.ca/observer/2023/expanding-housing-supply-rental-construction-financing-initiative
The increased supply should lead to reduced rental rates.
As someone who could afford to buy a condo, but not a house, this worries me if the trend continues. I’m very glad that I had the opportunity to buy the place where I live instead of being stuck renting forever.
I hope we continue to build housing of all types, including rentals and condos.
Housing past ten years wasnt based on needs but find housing speculation and assume endless desperate single immigrant to fill these rooms
Now housing is returning to needs