A new report by Statistics Canada reveals a substantial increase in short-term rental listings in Canada, with over 60% growth in total listings and more than 80% growth in units suitable for long-term housing between 2017 and 2023.
The report indicates over 100,000 short-term rentals could potentially be converted into homes, constituting less than 1% of Canada's housing stock, prompting debates in British Columbia over short-term rental regulations' impact on long-term housing market.
Marie-Christine Bernard highlighted that the research did not assess the impact of short-term rentals on affordability or vacancy rates, emphasizing that the significance varies by community and criteria for identifying long-term housing potential were based on factors like type of unit and rental availability.
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