New report says Halifax vacancies are increasing, but so are rents
Saltwire
AI Article Summary
New federal data reveals that while apartment vacancies in Halifax are rising, rental costs are not decreasing. This suggests that affordability challenges persist in Nova Scotia's rental market. The increase in rents despite higher vacancies indicates a complex interaction between supply and demand factors.
What This Means for Canadian Contractors
For Canadian builders, this means that despite an increase in vacancies, there is still a strong demand for residential properties, potentially pushing up construction activity. The sustained rise in rents may create opportunities for construction firms specializing in affordable housing solutions. Adjustments in pricing and project timelines might be necessary to capitalize on this demand effectively.
