The Royal LePage 2021 Secondary Properties Report includes insights from experts in the greater regions of Toronto, Montreal and Vancouver, and data from a recent Royal LePage survey, highlighting the real estate trends of secondary property owners in Canada’s three largest urban centres.
Key findings from the release include:
- 14% of homeowners in Greater Vancouver, 13% in the Greater Toronto Area and 12% in the Greater Montreal Area own more than one property;
- More than 40% of secondary property owners in the greater regions of Vancouver and Toronto, and 21% in the Greater Montreal Area, used equity from their primary residence to make the purchase;
- 65% of secondary property owners in Greater Vancouver, 64% in the Greater Toronto Area and 35% in the Greater Montreal Area, are collecting rental income, at least some of the time.