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Residential vacancy rate for elderly people now reaches 7,9%

Residential vacancy rate for elderly people now reaches 7,9%

According to the poll carried out by the Canadian Mortgage and Housing Corporation (CMHC) on residences for elderly people in Quebec in February 2009, the vacancy rate for standard places was established at 7,9%. Standard places comprise all types of residences where the residents receive less than one hour and a half of medical care per day.

Varied results have been obtained, however, for the different agglomerations of 100.000 inhabitants and more in Quebec. It is in Saguenay that the vacancy rate is lowest, with 1,6% only. The region of Montreal is closer to the provincial rate, with a vacancy rate of 8%. For the region of Quebec City, still according to the poll carried out in February 2009, a vacancy rate of 7,1% has been registered.

The region of Gatineau sets itself apart from all the large cities of Quebec with a rate which now reaches 17,2%. In Gatineau, several new residences for elderly people were added. Hesitating for a few years before investing in this type of dwelling, this region of the Outaouais has undertaken, since, to build several new residences for elderly people.

The region of Sherbrooke follows closely with a rate of 10%, becoming the second CMA to have the highest number of vacant residences in this housing component.

For the agglomerations of 50.000 to 99.999 inhabitants, the region of Granby has registered a vacancy rate of 3,3%, which is nevertheless not very high. The following rates were noted for Shawinigan (2,6%); and Saint-Hyacinthe (8%).

According to the poll of the CMHC of February 2009, there would be 32.603 units of housing of the room-and-board type in Quebec. Which would represent nearly 40% of the 83.025 apartments in residences for elderly people on the territory of Quebec.

Average rent of 1.333 $ for a standard place

The poll reveals that the average rent in Quebec for a standard place was 1.333 $ in February of 2009. The monthly cost for a room-and-board was 1.266 $ on average, whereas a semi-private room cost 1.338 $.

With regard to apartments, the rent for a studio was 1.179 $, a one-room apartment (1 372 $), and a two-room apartment (1 670 $). Lastly, when more important medical care is available in a residence, the average rent of a place with assiduous care was 2.563 $ (always according to the poll of February 2009), that is to say 1.300 $ of more than for a standard room.

The highest average rent was noted in Gatineau, with 1.695 $, which could partially explain the fact that the vacancy rate of this region is the highest of the cities of Quebec. For the region of Montreal, the average rent accounted for 1.417 $. Which is about the same cost as for the region of Quebec City (1 480 $).

For the regions of Saguenay and Trois-Rivières, the average rents are similar enough to reach approximately 1.280 $ in February 2009. The most affordable average rent is found in Sherbrooke, that is to say 1.178 $.

Take note of the fact that the poll also shows that it is in the Province of Quebec that people, 75 years old and more, are more interested in residences for elderly people. This phenomenon is noted more in Sherbrooke among the principal cities of Quebec, with a rate of attraction of 31%, that is to say the highest. Thus, more than one person in three of 75 years old and more lives in a residence for the elderly in the capital of the Eastern Townships.

The CMHC signals that approximately 176.845 elderly people lived in the 2.464 residences having been the subject of the poll, i.e. 8,2% of the population of 75 years old and more in Canada.

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Québec Landlords Association (1)

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