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Multiple-property owners

Nearly One Third of Residential Properties Owned by Multiple-Property Owners

Roughly three out of every 10 residential homes in Canada are owned by individuals who own multiple properties, according to new data from Statistics Canada.

Multiple-property owners hold properties to receive rental income or for other investment purposes. This can include recreational properties, which may also provide rental income.

“Individual multiple-property owners hold a significant share of the residential property stock, despite accounting for a relatively small number of owners,” StatCan notes.

This is especially true in Nova Scotia, where multiple-property owners made up 22% of all owners in the province in 2020, but held 41% of the province’s property stock. In B.C., they represent 15% of owners and held 29% of property, and in Ontario they represent 15.1% of owners and held 31.1% of property.

Property ownership by multiple-property owners
Property ownership by multiple-property owners

“Owners seeking additional properties contribute to increased competition in already tight real estate markets, making it more difficult for prospective homeowners to purchase a home,” the report noted, while adding that the overall impact on house prices and affordability wasn’t fully assessed.

The data found businesses, government and other entities comprised 1.6% (Ontario) and 2.1% (New Brunswick) of owners and owned between 7.6% (Ontario) and 10% (B.C.) of the property stock.

Housing inequalities unveiled

The report also explored inequalities in housing, finding that the top 10% of owners based on annual income earn more than the bottom 50% combined.

In Ontario and B.C., the top 10% of owners reported incomes above $125,000.

When ordering individual owners by the value of their real estate holdings, the top 10% of individual owners owned:

  • 24% of the sum of all residential property values in New Brunswick
  • 25% in Nova Scotia
  • 28% in Ontario
  • 29% in B.C.