Vancouver leads the country with the highest percentage of condo ownership, according to the Canadian Mortgage and Housing Corporation (CMHC).
The report, released Thursday, found that in 2011, just over one-third (35 per cent) of all owned homes in the city were condos. Second and third on the list were also from B.C. with Abbotsford-Mission at 26 per cent and Victoria at 22 per cent. The national average is 13 per cent.
Vancouver’s condo rental market also leads the country with 26 per cent of all condo apartments used as rental units, followed by Toronto with 23 per cent.
Not surprising, the city also leads in price of apartment rentals. The average two-bedroom unit in Vancouver is $1,261. The same two-bedroom in Toronto was $1,183 with Calgary at $1,150.
The report also listed the average price of condo units (March 2013) throughout Metro Vancouver:
- Downtown: $708,000
- Westside: $458,000
- Richmond: $354,000
- Coquitlam: $282,000
- Langley: $201,000