HOUSING MARKET INFORMATION SENIORS’ HOUSING REPORT Quebec
CANADA MORTGAGE AND HOUSING CORPORATION Table of Contents Date Released: 2019 1 Highlights
2 Vacancy rate in Quebec shows Highlights a small increase in 2019
The vacancy rate for standard spaces in Quebec stood at 7.2% in 2019, 2 Market trends differ across compared to 6.9% last year. the regions
Vacancy rate trends and market conditions differed across the regions. 3 Average rents
The average monthly rent for standard spaces was $1,788. 3 Capture rate: Quebec stands The capture rate in Quebec was 18.4% in 2019, contrasting sharply out from the rest of Canada with the overall rate of just 6.1% for the other Canadian provinces. 3 Capture rates varied across The vacancy rate for heavy care spaces in Quebec rose to 5.7% in 2019. Quebec CMAs 3 Heavy care spaces Figure 1 4 Map
Vacancy Rate for Standard Spaces 8 Data Tables Province of Quebec % 62 Methodology 12 63 Definitions 10
8
6
4
2
0 SUBSCRIBE NOW! 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Get email notifications when CMHC publications are released or updated. Source: CMHC Sign up for a free myCMHC account for enhanced site access, including one-click subscriptions to the reports and tables that matter to you. Get your myCMHC account today! Seniors’ Housing Report - Quebec - Date Released - 2019
Vacancy rate in Quebec Figure 2 shows a small increase in 2019 Vacancy Rates for Standard Spaces by Unit Type Province of Quebec According to the latest Seniors’ Housing Survey conducted in Quebec by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate for standard spaces (spaces where the residents receive less than 1.5 hours of care per day or are not required to pay an extra amount to receive high-level care) registered a small increase this year. In fact, between 2018 and 2019, the vacancy rate in the province of Quebec rose from 6.9% to 7.2%. Roo e or ne e roo o e roo ot Over the past two years, this rate therefore went up by 1 percentage Source: CMHC point.1 This contrasts with the situation observed from 2013 to 2017, over able to meet part of the demand for vacancy rates for standard spaces which time the vacancy rate had seniors’ housing spaces, particularly moved in opposite directions. The decreased by 2.5 percentage points. from independent older clients. rates rose in Montréal and fell slightly As mentioned in the 2018 report, in Québec. Market conditions became Data on vacancy rates for seniors’ the rebound in construction in this similar in these two CMAs, with the housing spaces by unit type in Quebec market segment, which started in proportions of unoccupied spaces have in fact continued to show a 2015, likely caused supply to outpace reaching 7.1% and 7.2%, respectively, lower vacancy rate for apartments demand, driving up the vacancy rate.2 in 2019 (versus 6.5% and 7.6% in (6.4%) than for rooms (9.9%). With This renewed activity was attributable 2018). It should be noted, however, vacancy rates between 5% and 6%, mainly to the fact that developers, that there were marked differences in larger apartments (one-bedroom anticipating a more sustained increase the proportions of unoccupied spaces and two-bedroom) posted a better in demand over the coming years as a depending on the geographic sectors rental performance than smaller result of the aging of the population, within these areas. units, namely, bachelor units have already begun positioning (vacancy rate of 8.9%). themselves on the market by Elsewhere in the province, the starting new projects. vacancy rates for standard spaces Market trends differ increased in the Gatineau area These demographic changes have (from 5.4% to 7.3%) but decreased also been having impacts on supply across the regions in the Sherbrooke CMA (from in the other segments of the rental Private seniors’ housing market 10.9% to 8.4%), the Trois-Rivières market in the province. Indeed, in conditions are obviously not the same CMA (from 9.7% to 7.1%) and the some centres, the increase in certain everywhere across the province. Saguenay CMA (from 6.3% to 4.3%). alternative housing types, including The small change in the provincial While notable, these changes do not conventional rental apartments vacancy rate between 2018 and 2019 necessarily reflect long-term trends and rental condominiums, has effectively conceals contrasting trends in these markets. For example, the been providing competition for across the regions. increase in the Gatineau area this seniors’ housing spaces. While these year followed a decrease of similar alternative types of housing do not In the Montréal and Québec census magnitude last year, such that market offer the same range of services than metropolitan areas (CMAs), the two conditions there have not really seniors’ residences, they have been largest markets in the province, the changed in recent years.
1 The vacancy rate was 6.2% in 2017. 2 CMHC Seniors’ Housing Report—Quebec, 2018
2 Seniors’ Housing Report - Quebec - Date Released - 2019
Average rents provinces, the Prairies, the Western They were followed by the Québec provinces and Ontario, the capture CMA, with a capture rate of 21%, The average monthly rent for rates varied between 1.9% and 8.7%. and then by the Saguenay and standard spaces in seniors’ residences In fact, excluding Quebec, the average Montréal CMAs, with rates in Quebec reached $1,788 in 2019. capture rate for the rest of Canada just under 20%.5 Of course, the averages varied reached just 6.1% in 2019. significantly with the unit types: from $1,487 for bachelor units to In other words, while about one in Heavy care spaces $2,307 for two-bedroom apartments. five people aged 75 or older lived in The survey defines “heavy care spaces” Differences were also noted seniors’ residences in Quebec, this as those where the residents pay an depending on the areas, with average was the case for only around one in extra amount to receive 1.5 hours rents hovering between $1,599 in twenty in the other provinces across or more of care per day. According Saguenay and $2,140 in Gatineau. the country. This contrast does not to the data from the latest survey automatically mean that people aged in 2019, conditions in this market The services offered in seniors’ 75 or older in the rest of Canada do segment eased over the past year. residences in Quebec (sports facilities, not change tenure. It could be that a The vacancy rate in this segment housekeeping help, recreational number of them go from owning to was estimated at 5.7% this year, services, etc.) vary greatly from one renting, without necessarily moving compared to 4.2% in 2018. establishment to another. A wide into “specialized” residences. variety of services can be included, Conditions were not the same across or not, in the rents paid by residents. As well, the proportion of renter the large urban centres, though, Average rent data must therefore households aged 75 or older was as the vacancy rates increased in be analyzed with caution. significantly lower in the rest of Montréal and Trois-Rivières but 4 Canada (24%) than in Quebec remained stable or decreased in the Capture rate: Quebec (40%). A large percentage of older other CMAs across the province. households in the other Canadian The average monthly rent reached stands out from the rest provinces therefore still owned their $3,281 for Quebec overall, but the of Canada homes, which was much less the level could rise to about $3,600 for case in Quebec. The “capture rate,” as defined in units located in the Sherbrooke area. this report, is the proportion of the Capture rates varied Over the longer term, when the population aged 75 or older living baby boomers will get to the point in private seniors’ residences.3 across Quebec CMAs where they will begin to lose their In Quebec, the capture rate was Among Quebec’s CMAs, Trois-Rivières independence, many challenges estimated at 18.4% in 2019— and Sherbrooke once again had the will emerge for the housing sector, the highest proportion in Canada. highest capture rates, both at about particularly in the heavy care The closest Canadian province was 25%. In fact, nearly one in four people segment, given the significant needs Prince Edward Island, with a capture aged 75 or older in these urban for human and financial resources rate of 10.5%. In the other Atlantic centres lived in seniors’ residences. associated with that stage of life.
3 The number of people living in seniors’ residences is calculated using only the residences included in our survey. 4 Data from 2016. Source: Statistics Canada, Census 2016. 5 The capture rate for the Gatineau area is not available for reasons of confidentiality or statistical reliability.
3 Seniors’ Housing Report - Quebec - Date Released - 2019 m k 0 0 2 e n i e l / e e d i % % a s 4 6 . . é M 7 9 p -
s a : : l a - S T 0 e G 0 d - 1 s e l Î 0 5 t - t % n % n i 7 9 s e a . . r S 4 4
-
u e : : s a a S L T c 0 B a
d
r p
%
o %
4
4
. S
.
N
0
-
9
1
:
)
te
:
T
ô
S e
C s r e v 0 i 0 0 n 5 5 U
( <
- s s
%
%
e
e l e
0
r 5
h
.
. r
è a
c
7 i
7
a
d
:
:
l t e t u % % i
u a
S
T
a 2 4 c
p . . t r
A o
h s 0 0 u 2 1
M E T
C 1 1
Ap r 0 0 A
t : :
C %
% 0 5
M e -
0
3 S S l T
y
. d . 5 7 % % e
C %
a a %
e l
4
4
5 f 2
. 8 n k . n 3 c
: c n
: . . < < t a 6 o e 7 i o o e % % e 6 -
7
S
T
:
u a A : p 4 b % 4 t i o % b e : : . .
g r a r a é 1
3 é S T n 7 . 8 M
a . t r S T b u
e
a u C 7 S N 7 : / : r n C
e d y b J : e e : Q Q S T % a % - r h S t - T C 2 6 n u . S m . n 0 0 e i d a 4 4 u
a
u 0 0 :
A : g
e S
i 5 5 - a S T N
M
g c S 1 3
%
%
%
-
é % n d a
C
6
s r 1
8
1
L .
i .
.
. < <
s
8
9
o
té 7
7
e
r t a
:
:
r : n
:
T
è
o S
T
S
i T S
v
M
i f
R
A
M o
C e
e
l %
i r
% e
a
c
3 è
i 9
. i
. é
% t
r
%
0 % % d
9
1
u 1
tr
1 2
. 7
. u a
: .
a .
n
7
: a
7 4
4
T
o
n :
M
S : : : R a
M S T L S T
y s n c e ) d % % a e t i 7 1 . . s n c 7 8 r e
s : : r a e e A u v S T i a c V M
L n % C % p a
c U 8 3 S . ( . u
6 a 7
s d e : : r e n b e S i T a c t a a d p n G u e a S s
t i l a S % % a
u : Q t 5 6 . . o S o 5 5 c
t a T : :
e : u - S b T % %
d
T é O r * * u * o e * : : Q u N - S T g u n - i i % l % d b 4 5 m . . a t i a i 5 5 t
c : : s i o A b S T m T
é T 0 % 2 % c e 7 . 7 .
: : n i S T v o r P
4 ! Seniors’ Housing Report - Quebec - Date Released - 2019