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Canada: House Prices, Rents, and Rental Yields

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
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

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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