MARKET OVERVIEW

The Canada real estate market size reached USD 183.8 Billion in 2024. The market is expected to grow steadily, reaching USD 231.5 Billion by 2033, at a CAGR of 2.60% during the forecast period of 2025-2033. Growth is driven by sustained demand, especially in urban areas, constrained supply, high immigration rates, and robust investor interest, which together maintain property values and development across residential and commercial sectors. See more details at the Canada Real Estate Market (https://www.imarcgroup.com/canada-real-estate-market).

STUDY ASSUMPTION YEARS

●     Base Year: 2024

●     Historical Year/Period: 2019-2024

●     Forecast Year/Period: 2025-2033

CANADA REAL ESTATE MARKET KEY TAKEAWAYS

●     Current Market Size: USD 183.8 Billion in 2024

●     CAGR: 2.60% during 2025-2033

●     Forecast Period: 2025-2033

●     Urban housing demand remains strong in major cities like Toronto and Vancouver, driven by immigration and population growth.

●     Limited supply with high competition keeps property prices elevated despite economic challenges.

●     Increasing preference for sustainable and energy-efficient properties supported by government incentives.

●     Luxury real estate shows resilience with high-net-worth individuals investing in premium properties.

●     The market benefits from Canada's political stability and international buyer interest.

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MARKET GROWTH FACTORS

Demand for residential properties in Canadian cities is outpacing supply due to an influx of immigration, job growth and population increase in Canadian metropolitan areas including the greater Toronto Region and Vancouver. A 14% per year increase in home sales on the Toronto housing market in 2024 exemplifies this. The disparity of demand versus supply has kept real estate prices high, creating competition for available housing and giving rise to vertical housing in the form of high-rise condominiums.

The sustainability trend is further driving the market growth. Residential and commercial buyers are interested in green and energy efficient buildings. The Green and Inclusive Community Building (GICB) program, which has been extended to 2029 along with additional additional funding of USD 500 million, aims at incentivizing climate resiliency, green building design, and net-zero buildings development by the government. Developers have also embraced solar panels and smart home technology to attract environmentally conscious investors.

The luxury market has been particularly resilient: in Winnipeg, for example, the number of MLS luxury sales between January and August 2024 was up 61.9 per cent from the 2023 level, and in Toronto luxury home prices were up 3.9 per cent year on year in August 2024. The sector regularly sees a base level of investment demand from high-net-worth buyers, motivated by the safe-haven characteristics of Canada's economy and political stability, as well as by international investors.

MARKET SEGMENTATION

Property Type Insights:

●     Residential Buildings and Dwellings: Includes homes and apartments serving personal living needs.

●     Commercial Complexes: Encompasses office buildings, shopping centers, and other business-related properties.

●     Industrial Infrastructure: Covers facilities related to manufacturing, warehousing, and industrial activities.

●     Government Infrastructure: Includes properties developed for governmental purposes and public services.

Business Insights:

●     Sales: Transactions involving the purchase of properties.

●     Rental: Temporary leasing arrangements for properties.

●     Lease: Longer-term contractual use of property by tenants.

REGIONAL INSIGHTS

The report analyzes major regional markets, including Ontario, Quebec, Alberta, British Columbia, and Others. Notably, specific regional statistics such as market share or CAGR by region are not provided in the source, but these are the dominant regions covered. Ontario and British Columbia, housing major cities like Toronto and Vancouver, are implied as key growth centers due to high urban demand.

RECENT DEVELOPMENTS & NEWS

In June 2024, EllisDon, RBC, and Mattamy Homes launched the Climate Smart Buildings Alliance (CSBA) and its Responsible Buildings Pact at the Canada Green Building Council’s conference in Toronto. Supported by 23 initial signatories, this initiative aims for a 40% reduction in embodied carbon in construction. It is expected to drive sustainable building practices, increasing demand for eco-friendly properties and influencing construction standards and investments across Canada’s real estate sector.

KEY PLAYERS

●     EllisDon

●     RBC

●     Mattamy Homes

CUSTOMIZATION NOTE

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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