Apartment rents continue slide, but 2021 outlook good

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Apartment rental rates in Canada’s largest cities continue to trend downward due to the ongoing pandemic, but the 2021 investment outlook for the sector remains robust, according to Ben Myers of Toronto’s Bullpen Research and Consulting.

Offering insights into the Rentals.ca 2020 December Rent Report and its forecast for the next 12 months, Myers said to expect a continued rate slump for the first half of 2021, followed by a recovery. Rentals.ca projects Canadian residential rents to rise about three per cent overall next year, after taking a beating in 2020.

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