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Canada’s multifamily market proceeds on two distinct paths

New forecast sees very different routes for high-end rentals and affordable units
Richcraft recently completed its 424-unit Centrepointe Union multifamily development at 19 Centrepointe Drive in Nepean Ottawa. (CoStar)
Richcraft recently completed its 424-unit Centrepointe Union multifamily development at 19 Centrepointe Drive in Nepean Ottawa. (CoStar)
By Mario LeFebvre
CoStar Analytics
August 26, 2026 | 12:00 P.M.

Canada’s multifamily sector is continuing to diverge into two very distinct narratives. The vacancy rate for the most affordable units remains very low at just 3%, while the vacancy rate for higher-end units is much higher, at about 15%.

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