Here are some key survey highlights:

  • Approximately 4.4 million Canadians currently own investment properties.
  • 26% of all Canadians express interest in buying investment property within the next five years.
  • One-third of Canadian real estate investors own two or more properties.
  • Younger investors (aged 18 to 34) are more likely to own multiple properties compared to older investors.
  • 15% of Canadian residential investors do not own their primary residence, primarily among the 18-34 age group.
  • 31% of investors have considered selling properties due to higher lending rates.
  • 20% of investors in the Greater Montreal Area plan to sell properties within the next two years.

Despite increased borrowing costs, the desire to invest in property remains strong. Phil Soper, president and CEO of Royal LePage, notes that young Canadians are particularly inclined towards property investment, prioritizing it over owning their primary residence.

Property type preferences among investors include single-family detached homes, condominiums, and townhomes. Factors such as long-term property value appreciation, positive cash flow, and low maintenance costs influence investment decisions.

Location also plays a crucial role, with proximity to educational institutions being a significant factor for many investors.

Interestingly, 15% of residential investors do not own their primary residence, opting to rent or live rent-free with family or friends.

The report also highlights the impact of increased borrowing costs on investors, with 31% considering selling properties. However, Soper emphasizes the resilience of the real estate market and advises investors to seek guidance from experts when making investment decisions.

Looking ahead, 44% of investors plan to maintain their properties, while others intend to renovate or sell within the next two years. Soper emphasizes the crucial role investors play in providing housing, especially as Canada expects a surge in immigration.

In conclusion, while challenges exist, property investment remains a viable option for many Canadians, particularly the younger demographic.