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Greater Toronto Area Multifamily Market Update February 2021

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research article

Amid the uncertainty of the global pandemic, the multifamily sector has emerged as one of the most resilient asset classes in commercial real estate. Strong market fundamentals paired with a low cost of borrowing have maintained investment trends seen pre-pandemic.

  • As in recent years, large portfolio sales represented a significant portion of transaction volume.
  • Average price per suite increased 4.5% YoY to $286,443.
  • Average cap rate compressed 19 bps to 3.32%.
  • Average vacancy rate climbed to 3.4% with the largest disruption occurring in the downtown core – suburban locations were less adversely affected.
  • Apartment rental rates increased 4.6% YoY while the average condominium rental rate decreased 9.7% YoY. 

Greater Toronto Area Multifamily Market Update February 2021

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Pour plus d’informations, veuillez contacter:

Kyle Lindsay

Sales Representative

Toronto Downtown

Kyle Lindsay is a member of Colliers’ Multi-Family Advisory Group working out of the Toronto North office, and extends his services to investors throughout the province. Engaged in multi-residential sales since 2010, Kyle brings with him over a decade of combined real estate and sales 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 international buyers, REIT’s, developers, and private investors. 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

Sales Representative | Private Capital Investment Group

Toronto West

As part of the National Investment Team at Colliers International, Dayma focuses on complex apartment and townhouse dispositions in the Ontario region.  With a diligent focus on quantitive analysis and market presence - Dayma consistently exceeds his clients' disposition objectives. His team executes flawlessly, ensuring a smooth progression through the marketing process from beginning to end - all while maximizing value and mitigating any potential risks.

Prior to Multifamily Investment Sales, Dayma worked alongside Andrew Barnicke and Scott Chandler on the Capital Markets Team.

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

Senior Director, Valuation & Advisory Services

Toronto Downtown

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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