Montreal and Toronto have been building more purpose-built rental, or PBR, apartment units in recent years, according to data from the Canada Mortgage and Housing Corporation, or CMHC. These housing units are designed and built specifically for the rental market rather than to be listed for sale or converted to rental properties later. As of July, the country's two largest cities were adding a record number of units under construction.
CoStar Insight
More rental apartments continue to be built in Montreal than in Toronto
After declining between 2022 and 2024, apartment construction in Montreal has rebounded
CoStar Analytics
September 9, 2025 | 2:19 P.M.
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