Canada Residential Real Estate Market Share, Trends, Revenue, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033


Canada Residential Real Estate Market Share, Trends, Revenue, Demand, Growth Strategy, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Published: Nov-2023
 Author: SPER Analyst

Canada Real Estate Market is projected to be worth USD 82.40 billion by 2033 and is anticipated to surge at a CAGR of 3.49%. 

Property that consists of both land and buildings is referred to as real estate. It is a kind of material good with intrinsic worth that is important to the global economy. Commercial, industrial, residential, and agricultural real estate are the four types. Every one of them has unique characteristics and investing dynamics. Numerous factors, such as location, governmental policies, demographics, and economic conditions, influence the real estate market.

Canada Real Estate Market Driving Factors and Challenges

Drivers: There are a number of key aspects that determine the dynamics of the Canadian real estate market. First and foremost, population growth and urbanization are major factors in the housing market, making demographic trends crucial. The demand for residential real estate, both for ownership and rental purposes, is expected to stay high as Canada's population grows, particularly in its larger cities. Furthermore, the purchasing power of prospective homeowners is impacted by economic factors like income and employment rates, which in turn affect the general situation of the real estate market. A greater number of people can now afford to become homeowners because to low interest rates, controlled inflation, and favourable mortgage financing terms, which are other important factors boosting property sales.

Challenge: There are different challenges facing the Canadian real estate market that affect both buyers and sellers. The affordability of housing is a serious issue, especially in large areas like Toronto and Vancouver where rapidly rising prices have exceeded increases in income. This has given rise to worries about the exclusion of many first-time homebuyers from the market and the possibility of a property bubble. In addition, homeowners with variable-rate mortgages run the danger of losing money because the market is susceptible to changes in interest rates. A further obstacle is the shortage of available housing, which exacerbates buyer rivalry and adds to the affordability problem. Government-imposed strict lending guidelines and mortgage stress tests have also made it more difficult for some people to obtain financing, which has an impact on market activity as a whole.

Impact of COVID-19 on Canada Real Estate Market 
Because of COVID-19, most builders and buyers are now using digital contract signings and virtual tours. Larger homes are becoming more and more in demand as more individuals choose to work from home. Reducing the housing affordability index is a sign of looser homeownership requirements, according to the Bank of Canada (BoC). Since then, it has steadily climbed and in Q2 2021, it surpassed its pre-pandemic level. Consumers' spending power increased during the early stages of the epidemic due to declining mortgage rates and rising household disposable income (HDI).

Canada Real Estate Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Amacon, Concert Properties Ltd, Shato Holdings Ltd, Aquilini Development, Bosa Properties, B.C. Investment Management Corp., Brookfield Asset Management, Polygon.

Canada Real Estate Market Segmentation:

By Property: Based on the Property, Canada Real Estate Market is segmented as; Residential, Commercial, Industrial, Land, Others.

By Type: Based on the Type, Canada Real Estate Market is segmented as; Sales, Rental, Lease.

By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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