GTA Multifamily Market Report 2022 Q3

The long-term outlook for the multifamily market remains positive and liquidity has made the sector resilient in the face of economic shifts.

Market rents have risen significantly with the average rent in Toronto up 17.1% YoY for a one-bedroom unit and up 24.3% for a two-bedroom unit.
The average price per suite in the GTA has risen to $351,812 year-to-date, which represents an increase of 7.2% YoY.
The construction of new purpose-built rentals has nearly come to a halt with only two rental projects (totaling 314 units) starting construction over the last two quarters.
Transaction volume fell to $627 million this quarter, which represents a YoY decrease of 49.4%.

GTA Multifamily Market Report Q3 2022

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For More Information, Please Contact:

Kyle Lindsay

Associate Vice President, Sales Representative | National Multifamily Advisory

Toronto Downtown

+1 416 791 7272

Kyle Lindsay leads the Multifamily Group for Colliers in Toronto, and is a core member of Colliers National Multifamily Advisory. 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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Dayma Itamunoala

Vice President | Sales Representative

Toronto West

+1 416 791 7203

+1 647 915-3193

Dayma leads the Colliers Multifamily Team in Toronto. As part of the National Investment Team at Colliers, Dayma is recognized as a leading specialist in the disposition of multifamily property across Ontario. As a member of the Federation of Rental-Housing Providers of Ontario (FRPO), he is an active member of the multifamily community, regularly participating on expert panels and in industry events. Dayma has a consistent and reliable pulse on the most active and aggressive purchasers, ensuring they are highly engaged on each transaction. In the last 6 months Dayma has sold over $300M worth of apartment buildings. His experience has allowed him to work with all tiers of investors, including institutions, international investors, REIT’s, developers, and private-capital individuals. He is recognized for his unsurpassed market knowledge, diligent focus on client success, and for his commitment to integrity.

Dayma was born and raised in Toronto, Ontario. He attended the Ivey School of Business at Western University where he graduated with Honors.

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Matthew Bruchkowsky

Executive Vice President

Toronto Downtown

+1 647 832 5462

Matt joined the real estate industry in 2008 after graduating from a Bachelor of Commerce degree specializing in Housing and Real Estate Management at the University of Guelph. Matt has worked in both the property tax consulting and fee appraisal sectors. Matt is the Ontario Practice Leader for the Self Storage and Multi-Family Investment teams.

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