Investors made up 20 to 30% of homeowners in some provinces: Statistics Canada

The data agency says investors made up 31.5 per cent of Nova Scotia’s homeowners in 2020

CITYnews halifax \ Canadian Press

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OTTAWA — New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.

The data agency says investors made up 31.5 per cent of Nova Scotia’s homeowners that year and 29 per cent of New Brunswick’s property holders.

Investors in British Columbia came in at 23.3 per cent followed by 20.4 per cent in Manitoba and 20.2 per cent in Ontario.

When grouped together, the data agency’s calculations show under one in five homes in British Columbia, Manitoba, Ontario, New Brunswick and Nova Scotia was considered an investment property in 2020.

Houses used as an investment were mainly owned by individuals living in the same province as the property.

However, condo apartments were used as an investment more often than houses, with Ontario alone seeing the highest rate of condo apartments used as investments at 41.9 per cent.

This report by The Canadian Press was first published Feb. 3, 2023.

The Canadian Press