By Katie Davis A s the season for raking leaves is upon us more and more Canadians, over 1.9 million so called households now live in condos, as per the 2016 What does that mean, well simply that according to data from the 2016 census, 13.3 percent of Canadians live in a household that is categorized as a condominium and not a single dwelling home. Data shows that this has increased by 1.2 percentage points from the last census five years ago and shows no signs of slowing as the population ages. Statistics Canada data shows that of the 1.9 million condo- miniums households that two-thirds were owned proper- ties or about 1.3 million had the owner as the occupant, while the other third about 600, 000 were rental units. census data.
Now depending where you leave in Canada does seems to determine the ratio of households and Canadians choosing condo life over more traditional single dwelling homes, but in most areas of Canada you do not have to look very hard to see increased construction of these properties to meet the increasing demand for condo life. If you are off the West Coast in Vancouver, condo life is becoming more and more popular with census data showing more than 30 percent of the households living in condos, which is the highest percentage in Canada. Followed by 22 percent of the households in Calgary choosing condo living. As you move your way East to Ontario, you would think that Toronto would be high on the list but only have one out of every five households according to Census data live in a condominium or about 20 percent. Going further East to the coast and given the recent con- struction that you see in Halifax you would think that they had some of the highest ratios of households living in con- dominiums in Canada, but that is not the case as cities like, Moncton, Halifax and St. John’s have less than 5% of house- hold living in condos or about 1 out of every 20 Atlantic Canadians choosing condo living, but something tell us that in 5 years with an increasing population and the benefits that come with a condo life, that more and more Atlantic Cana- dians and for that matter all Canadians will be making the move to condo living and at least thinking about it as they gather up the Fall leaves and look towards winter coming.
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SPOTLIGHT ON BUSINESS MAGAZINE • OCTOBER 2017
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