Airbnb could pull up to 1% off rental vacancies in Canada’s 3 biggest cities: study

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    Airbnb could have sapped as many as 31,000 units out of Canada’s rental market in the last year — enough to represent a drag of as much as one percentage point on vacancy rates in each of the country’s three biggest cities.Story continues below

    That’s close to the total rental vacancy rate in each city, as reported by the Canada Mortgage and Housing Corporation (CMHC).And it’s a problem that appears to be growing, according to a paper out of McGill University’s School of Urban Planning.“Through removing housing that would otherwise be available on the long-term rental market, Airbnb is reducing housing supply and, in turn, housing affordability,” researchers found.WATCH: June 5 — Quebec adopts new Airbnb regulations Airbnb could pull up to 1% off rental vacancies in Canada’s 3 biggest cities: studyhttps://globalnews.ca/news/5415348/airbnb-long-term-rentals-canada/