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These 5%-13% condo vacancy rates in Toronto in 2019 were happening against a backdrop of rental vacancies of 1.1% (for new rentals) and 0.8% (for all rentals in
by jfil 3y ago
These 5%-13% condo vacancy rates in Toronto in 2019 were happening against a backdrop of rental vacancies of 1.1% (for new rentals) and 0.8% (for all rentals in the Greater Toronto Area)[1]. That's what made that +5% of available condo stock vacant and unrented such a shocker.
[1] https://www.urbanation.ca/news/311-city-toronto-vacancy-rate-reaches-57 https://www.urbanation.ca/news/311-city-toronto-vacancy-rate...
- trinovantes 3y agoMy point is that it's terrible heuristic and likely overestimates the actual vacancy rate e.g. legitimate units can go empty for longer than a week when transitioning between tenants