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Greater Toronto Area Multifamily Market Report

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research article

On the tailwinds of consecutive record setting years, the 2020 multifamily market was poised to have another benchmark year. Durable market fundamentals supported a robust appetite amongst institutional investors and liquidity remained strong across the GTA. However, the unprecedented COVID-19 pandemic has had a significant impact on monetary policies, fiscal policies, business operations, asset management, and everyday life. During this temporary period of uncertainty, the importance of real estate assets will understandably come second to health and safety. In this report, we take an informed approach to analyze the current state of the multifamily market.

  • April rent collection exceeded expectations – high 90% range by end of month
  • Comparisons to last economic downturn indicate a stable multifamily market in times of uncertainty
  • Second most active Q1 in last decade, surpassing $500M+ in sales
  • Average price per suite maintains 2019 YE averages at $277,596, +17% from Q1 2019
  • 64,747 purpose-built rental suites proposed over 178 projects, + 47% from Q1 2019
  • Decrease in construction starts could ease construction costs


Greater Toronto Area Multifamily Market Report

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For More Information, Please Contact:

Kyle Lindsay

Associate Vice President, National Multifamily Advisory

Toronto Downtown

Kyle Lindsay leads the Multifamily Group for Colliers in Toronto, and is a core member of the National Multifamily Team.  Working out of the downtown Toronto office, he extends his services to investors locally and throughout the country. Engaged in multi-residential sales since 2010, Kyle brings with him over a decade of real estate and multifamily experience. Integrating a strong development and urban planning background, Kyle thoroughly analyzes market trends when investment planning and finding viable real estate solutions. Kyle has years of experience working with all tiers of investors, including institutions, international investors, REIT’s, developers, and private-capital individuals. He has merited long term customer loyalty due to his talent for providing strategic advisory solutions tailored to the needs of each client.

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Steve Keyzer

Executive Vice President, Sales Representative

Toronto Downtown

A results-driven real estate professional, Steve has established himself as a trusted source for commercial real estate advisory across the GTA.

Multifamily & Redevelopment Advisory

Steve is a key leader within the multifamily, redevelopment, and intensification vertical in the GTA. He acts on behalf of an ever-increasing number of private, corporate, and institutional urban real estate/land owners, as well as insolvency, bankruptcy, and restructuring firms to maximize the value of their properties.  He brings certainty with a focused and diligent approach to process while establishing highest & best use for a given asset. He is able to guide property owners through the value maximization and/or redevelopment process to align value expectations for sale as well as Joint Venture projects.

Corporate Advisory

Having worked in the advertising industry before entering real estate Steve offers a particular strength and understanding in corporate rebranding opportunities though real estate realignment, assisting clients to establish a distinct identity which further strengthens and reaffirms their brand and reflects their corporate culture. Steve’s corporate representation specializes within the Technology, Advertising, Media, and Information (TAMI) sector.

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