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VACANCY RATES IN RETIREMENT HOMES VARY ACROSS ATLANTIC CANADA IN 2014

Source: http://www.dailycommercialnews.com

The vacancy rate for standard spaces1 in retirement homes in Atlantic Canada was 11.0 per cent in the spring of 2014, according to Canada Mortgage and Housing Corporation’s (CMHC) Seniors’ Housing Report, Atlantic edition released today.

The current vacancy rate is down from 11.2 per cent a year earlier. The overall average rent for a standard retirement home space was $2,415 in Atlantic Canada in 2014. Prince Edward Island and Nova Scotia recorded above average rents of $2,785 and $2,557, respectively. Standard spaces in Newfoundland and Labrador and New Brunswick recorded rents below the regional average at $2,130 and $2,337, respectively.

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