Apartment construction is bright light in housing market
Halifax`s migrant population is adding to the demand for apartment living in the Nova Scotia capital.
"Single-detached housing starts are forecast to decline by 13 per cent but will be offset by a 15 per cent increase in apartment construction in 2011," Matthew Gilmore, senior market analyst for Canada Mortgage and Housing Corp. in Halifax, told me Monday.
"In some cases, there is a little bit older generation, the baby boomers, and maybe even retirees are looking at these (rental) units. In terms of what we`re currently building for rental accommodations, they are fairly spacious units compared to what you might have seen 10 or 20 years ago.
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