More than a quarter of Canadians have plans to purchase an investment property in the next five years, according to a new survey from Royal LePage, though high interest rates have some property investors musing whether to sell.

The survey, conducted by Leger and published Thursday, found that 26 per cent of respondents said they are likely to buy an investment property within five years. Eleven per cent of Canadians currently own an investment property, and just over half of those investors said they planned to buy another within five years.

“We know that the value of home ownership is strong among Canadians – it is clear that possessing real estate remains a desirable means for building wealth over time,” Phil Soper, president and CEO of Royal LePage,” said in a news release.


Elevated interest rates appeared to be dampening some people’s investment property outlook, however.

Just under a third of residential real estate investors said they had considered selling one or more of their properties because of higher lending rates. Young investors under the age of 35 were more likely to be weighing that option, at 54 per cent.


Young Canadians still appeared motivated to start investing in real estate, despite well-documented challenges with the country’s real estate market when it comes to high prices, steep interest rates and low supply.

The survey found that young investors between the ages of 18 and 34 were more likely to own more than one investment property compared with those aged 35 and older.

It also found that 15 per cent of residential real estate investors did not own their primary residence, and most of those people were in the 18 to 34 age cohort.

“Despite the hurdles of low home supply and increased lending rates, young people are more inclined than ever to make real estate investing a part of their financial planning for the future,” Soper said. “In fact, survey results tell us that many of them are actually prioritizing an investment property over owning their primary residence.”


Single-family detached homes were the most popular type of investment property, the survey said, with 44 per cent of investors owning such homes. Condominiums were the second most popular at 37 per cent, and townhomes came third with 11 per cent.

The opportunity for long-term property value appreciation was the top priority with 69 per cent of real estate investors, followed by positive monthly cash flow and low maintenance costs.

Nearly half of investors said their investment property is in a town they don’t currently reside, at 44 per cent. Proximity to a post-secondary institution was a factor in the decision about where to buy for 47 per cent of investors.


An online survey of 1003 Canadians 18+, who own one or more residential investment properties, was completed between March 2, 2023, and March 17, 2023, using Leger’s online panel. No margin of error can be associated with a non-probability sample (i.e., a web panel in this case). For comparative purposes, though, a probability sample of 1003 respondents would have a margin of error of ±3%, 19 times out of 20.