Investor confidence in the multi-residential real estate industry in 2021 has remained strong, despite the economical uncertainty linked to COVID-19. This type of property continued to be an appealing option for investors due to its strong performance track record and cash-flow opportunities.
According to the 2021 Canadian Economic Outlook and Market Fundamentals Report released by Morguard Corporation in January, over $3.9 billion was recorded in transaction volume for the first 6 months of 2020 in the multi-family segment. This was comparable to the $4.0 billion sales recorded in the first 6 months of 2019.
According to their report, the apartment building industry is expected to continue to increase steadily throughout 2021, particularly as the COVID-19 vaccine becomes more readily available. They predict the recovery of the economy, the job market and an increase in international immigrants will increase rental demand substantially resulting in the multi-residential sector returning to pre-pandemic levels.