Canada: House Prices, Rents, and Rental Yields
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Last Updated: Nov 26, 2008
Toronto and Montreal
yields hold steady
| Last Updated: Nov. 26, 2008 | |||||
| TORONTO – Condo Apartments |
COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 60 sq. m. | 282,480 | 1,452 | 6.17% | 4,708 | 24.20 |
| 120 sq. m. | 478,200 | 2,582 | 6.48% | 3,985 | 21.52 |
| 225 sq. m. | 1,340,775 | n.a. | n.a. | 5,959 | n.a. |
| MONTREAL – Apartments |
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| 55 sq. m. | 148,335 | 1,062 | 8.59% | 2,697 | 19.30 |
| 90 sq. m. | 249,300 | 1,535 | 7.39% | 2,770 | 17.06 |
| 120 sq. m. | 383,280 | 2,161 | 6.77% | 3,194 | 18.01 |
| 240 sq. m. | 842,160 | 4,824 | 6.87% | 3,509 | 20.10 |
| Districts researched Toronto: 'Old Toronto'- Summerhill, Forrest Hill, Rosedale, Moorepark, Lawrence Park, East York, Harbourfront, The Annex, Midtown, Yorkville Montreal: Le Plateau-Mont-Royal, Le Sud-Oest, Outremont, Verdun, Ville-Marie Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule |
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We find that condominiums in Toronto have yields of around 6.3%, which is just slightly lower than 2007 Global Property Guide yields research results. Larger units still tend to have higher yields, reaching up to 6.48%.
Montreal apartments are less expensive to buy at around US$383,200 for a 120 square metre (sq. m.) property, versus around US$478,000 in Toronto. Gross rental yields are slightly higher in Montreal (by 1.08%), so that an average apartment yields around 7.4%. Yields are higher for smaller apartments, unsurprisingly - 55 sq. m. apartments have average yields of around 8.59%, according to Global Property Guide research.
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