Real Estate
Developers Find New Opening to Bet on Canada’s Housing Shortage
- Institutional investors are boosting the apartment market
- Condo construction pulled back as retail investors were burned
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The flood of money that drove one of the world’s biggest condo building booms has abruptly dried up, creating an opportunity for deep-pocketed investors to step in.
Apartment construction — fueled by institutional investors financing whole buildings — reached a high last year in Canada. And in the past few years, such projects have overtaken condos as the major source of multifamily construction in the country, which is desperate for more housing.