Canada's Purpose-Built Rental Crisis: Why the Private Sector Must Lead the Way
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Ladan Hosseinzadeh Sadeghi, President & CEO of Sky Property Group Inc., emphasizes the urgent need for private-sector investment to address Canada's rental housing crisis. With vacancy rates near 1.5% in major urban centers, the focus should shift from condo construction to purpose-built rentals, which offer stability and better amenities. Recent federal and provincial policy changes, such as the Apartment Construction Loan Program, aim to incentivize rental development. However, Sadeghi warns that timely execution of these policies is crucial to meet the growing demand driven by immigration and population growth.
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