Non-residents own 0.7% of Ottawa’s condos, according to data released by the Canadian Mortgage and Housing Corp.
New CRTC regulations on mobile phone contracts come into effect and four other stories to watch for in the Canadian business world this week.
However, vacancy rates are expected to face upwards pressure in 2019 as developers complete rental construction projects.
Year-to-date housing starts up 29% over 2016.
Through the first three quarters of the year, housing starts increased a whopping 36 per cent from 3,801 homes in 2016 to 5,169 this year.
A decline in high-rise starts contributed to a third straight month of sliding housing starts in Ottawa, the CMHC said Monday.
A sluggish condominium market was a factor as housing starts in the capital trended down in March, the Canada Housing and Mortgage Company said Friday.