Canada’s recent imposition of a cap on international study permits is anticipated to significantly decelerate the surge in demand for rental units from foreign students this year, with the growth expected to be approximately half of what it was in the previous year, as per insights from the country’s largest lender.
The projection suggests that the number of international students in Canada is poised to increase by 100,000 in 2024, representing a 55% reduction in the net increase compared to the previous year. This estimation is based on the assumption of similar enrollment rates and outflow patterns after the pandemic, according to Rachel Battaglia, an economist at the Royal Bank of Canada, as stated in a note on Wednesday.
Canada student visa cap, Rental demand impact, Student visa restrictions, Rental market effects, Canada immigration policy