07/29/2021
MORE PEOPLE OWN MULTIPLE PROPERTIES GTA UNDER 35
While most residents in Toronto have renounced their dreams of ever owning a home in the region due to its infamously overvalued real estate market, there are still the fortunate few among us who can afford not just one, but multiple properties in the GTA.
And, a new report from Royal LePage shows that, quite shockingly, a larger proportion of these owners are 35 and under than over the age of 35, somehow.
The real estate giant surveyed Canadians in and around the urban centers of Toronto, Montreal, and Vancouver to learn more about secondary properties, the people who own them, and how they use them.
Among the findings are the fact that most people who have more than one residence in Canada rent out the homes they're not living in at least some of the time — 64 percent of secondary property owners in the GTA specifically — while only a small portion (seven percent in Toronto) leave them vacant as simply an investment to sit on.
The most surprising tidbit in all of the data is perhaps the fact that while only 11 percent of homeowners over 35 surveyed said they owned more than one property, 18 percent of those 35 and underdid.
