Global real estate firm Cushman & Wakefield claims that the senior housing market in Canada is closely connected with that in the United States. Thanks to favorable supply and demand kinetics, senior housing occupancy and rent growth are emerging in both nations.

According to Sean McCrorie, executive vice president of Cushman & Wakefield, the baby boomer generation's changing requirements are being met by the American and Canadian markets, which have comparable demographic patterns. This regards a need for cutting-edge facilities, a variety of housing choices, and all-inclusive services.

Increases in building prices and borrowing rates cause problems in both nations, Canada stands out due to its chiseled healthcare system. In contrast to the U.S. market, the government's universal healthcare program pays for a sizable amount of skilled nursing facility expenses.

All things considered, the senior housing market in Canada is expected to keep expanding, following the prosperous trend seen in the US.

By Kathleen Gaivin Steele

30 September 2024