Canadian Multifamily Market Shows Signs of Stabilization in Q1 2023

Canadian Multifamily Market Shows Signs of Stabilization in Q1 2023

Multifamily cap rates in Canada remained relatively stable during the quarter, with minimal changes recorded in London, Montreal, and Halifax.

The national average cap rate for all multifamily categories increased by just 1 basis point (bps) quarter-over-quarter to 4.39%.

High Rise Class A multifamily assets experienced a slight increase in cap rates, with the national average yield rising by 3 bps to 4.04%. The spread between Class A and Class B assets narrowed slightly to 39 bps.

Low Rise Class A and Class B properties maintained flat cap rates, with Class A yields holding steady at 4.35% and Class B yields at 4.74%.

Regional rankings for cap rates varied across different cities, with Kitchener-Waterloo, Victoria, and Toronto among the top-ranking markets.

The historical multifamily cap rate chart shows trends over the years, indicating that cap rates have fluctuated but remained relatively stable in recent quarters.

Please note that the information provided is based on the specific data presented in the given material. For the most accurate and up-to-date information on multifamily cap rates in Canada, it is advisable to consult reputable sources or market reports like those we produce at Colliers international.

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