One in four Canadians plans to buy investment property in next five years: Royal LePage survey
Approximately 11 per cent of Canadians currently invest in residential real estate, with more than half of current investors saying they are likely to purchase an additional residential investment property in the next five years, according to a survey by real estate firm Royal LePage.
The survey, conducted by Leger, said 64 per cent of residential real estate investors own one property, while 32 per cent own two or more.
“There are more small business landlords in the country than previous data would have indicated and considerably more people interested in becoming property investors,” Royal LePage chief executive Phil Soper said in an interview. “So it’s clearly a product of the time and the economic environment of the perceived opportunity.”
Since their research on real estate investors is new, there is no baseline to compare it to, but Soper said the numbers appear to be higher than he would have expected.
The report said more than a quarter, or 26 per cent, of all Canadians plan to buy an investment property before 2028, with 23 per cent of Canadians who do not own a residential investment property saying they are likely to purchase one in the next five years.
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