The number of rental units has increased sharply in Montreal since many people decided to leave the metropolis during the pandemic, believes a group of owners who believe that the situation is becoming more profitable for tenants.
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Nearly 10% of rental housing is now available on the island, according to the Corporation of Property Owners of Quebec (CORPIQ).
The vacancy rate also reached 4.67% in April in Montreal, compared to 1.6% in 2019 and 3.2% in 2020.
This increase can be explained by the fact that more and more households have left the city lately. This phenomenon is confirmed by the number of leases that have not been renewed, representing 5.85% of the market.
But the most available accommodations are more often studios or 2 and a half, since more and more Montrealers are looking for more space.
The situation is specific to Montreal, since the vacancy rate remains quite low in Quebec, at 2.11%. Nearly 4.44% of housing units are available for rental in the national capital.