Today’s markets demand a research-driven approach

IN Partnership with

Equiton demonstrates how data and innovation can come together in the pursuit of lasting investor value

CANADA’S HOUSING market has been caught in a perfect storm. Population growth and immigration have collided with lengthy development approvals and escalating construction costs, driving a supply−demand imbalance that has grown increasingly severe over decades. In this environment, private real estate firms have stepped up, directing vital capital into building and managing much-needed housing while delivering solid returns to investors who chose to be a part of the solution. While some progress has been made, the underlying conditions remain largely unchanged. Equiton has chosen to take an active role in finding solutions by partnering with the John Molson School of Business at Concordia University to support innovative research into Canada’s real estate investment landscape. The collaboration’s first research paper examines the population pressures driving record demand for rental housing, while its latest study examines the other side of the equation − the supply barriers that prevent new homes from being built, even as policymakers introduce incentives to accelerate construction. Together, these studies underscore that Canada’s challenges are structural and longstanding. As a result, near-term fluctuations can mask the steady resilience of one sector in particular − purpose-built rentals. Despite headlines about falling rents and government curbs on immigration, deeper analysis suggests that Canada’s recent real estate correction will be short-lived. Persistent drivers, from population growth to lagging completions, continue to reinforce both the long-term investment thesis for purpose-built rentals and its central role in addressing the nation’s housing challenges. These fundamentals are reflected in performance. While investors are becoming more selective, purpose-built rental remains one of the few Canadian property types maintaining steady results. The trend highlights a fundamental truth: even as transaction volumes soften, the need for quality rental housing is growing and the underlying economics of that market remain resilient.

Equiton makes high-quality private real estate investments accessible to Canadians so they can responsibly build their wealth. Founded in 2015, the firm has experienced tremendous growth, with over $1.6B in assets under management, 17,000+ investors, and 250+ employees. Its exponential growth is due to the leadership team's deep understanding of real estate investing. It focuses on capitalizing on value-creation opportunities and building the most robust portfolio possible for its investors, partners, and stakeholders.

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impact of 10% improvement in regulation and approval delay on annual housing completions (100=toronto)

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“We are part of the solution. When investors support developments or property management in ways that improve housing access and stability, they are also supporting the long-term health of the market”

Geoff Lang, Equiton

For Equiton, the partnership with Concordia represents more than a research exercise. It is part of a broader effort to align its investment strategy with the realities shaping Canada’s housing future. “Everyone knows there is a shortage,” says Geoff Lang, SVP, business development at Equiton. “What has been missing is data that shows where the problem is most acute and how realistic changes could make a measurable difference.” That missing data is now emerging through an AI-driven model developed by Dr. Erkan Yönder and his team at Concordia University. The analysis revealed that streamlining approval processes could increase housing completions by roughly 10 to 13 percent annually (versus

the current three percent). Adjusting policy tools, such as targeted tax relief or density-aligned incentives, could add further supply and help ease some of the upward pressure on prices. Equally revealing was what it would take to restore balance. The research found that housing prices would only stabilize, not decline, when national completions reach about 11 to 12 per cent of existing housing stock annually. For context, Canada currently adds approximately 1.75 percent to its existing supply every year. “This is the first time we have been able to quantify the gap with real precision,” Lang explains. “It shows that the housing challenge is not cyclical. It is structural, and it requires data-driven collaboration between public and private sectors to make progress.”

The integration of artificial intelligence and academic modelling gives the firm a sharper lens on future supply conditions. By making those patterns visible, the research gives developers, investors, and policymakers a shared foundation for decision-making. For Equiton, it also enhances the acquisition strategy for its Apartment Fund (Equiton Residential Income Fund Trust), helping the firm identify submarkets where supply shortages are likely to persist and where capital can have the most positive impact for Canadian residents and investors alike. “Dr. Yönder’s findings validate our strategic expansions into key markets,” Lang says. “We are not expanding for the sake of national presence. We are investing where the need for housing is greatest and where the fundamentals support sustainable returns.”

This disciplined strategy has helped guide the Fund’s expansion into Burnaby in the Vancouver metropolitan area, where land scarcity and persistent population growth create strong long-term demand. The Fund focuses on both development and value-add strategies − bringing under-maintained assets back to market readiness and ensuring that all projects meet community needs. Equiton’s role as an active contributor to housing supply is central to its value proposition. “Equiton is actually a net contributor to supply,” CEO and founder Jason Roque emphasizes. “We bring multifamily inventory into the market through development and act as stewards of Canada’s existing rental stock.

creates new ways to think about portfolio construction. Funds that base their decisions on localized data, maintain conservative leverage, and engage with community priorities are positioned to perform even through periods of short-term volatility. Lang sees that as both a responsibility and an advantage. “We are part of the solution,” he says. “When investors support developments or property management in ways that improve housing access and stability, they are also supporting the long-term health of the market.” Building a portfolio strategy around a core pillar of sustainable growth offers several clear takeaways:

Business intelligence and data analysis concept

Quantifying the housing gap

Turning research into a competitive advantage

Published November 17, 2025

“Everyone knows there is a shortage. What has been missing is data that shows where the problem is most acute, and how realistic changes could make a measurable difference”

Geoff Lang, Equiton

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Percentage Increase in Housing Competitions

Regulation Index

Approval Delay Index

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Persistent supply gap

Canada’s housing demand continues to outpace completions in major cities.

Key findings from concordia

Policy bottlenecks

Streamlining municipal approvals could boost new housing by 10–13% annually.

Rising costs

Input inflation and tax burdens remain major barriers to development.

Actionable insights

Real progress will depend on collaboration between policymakers and private capital to remove structural barriers and unlock new supply.

Investor takeaway

Funds that use data-driven insights to guide disciplined acquisitions and development strategies are best positioned for long-term, resilient growth.

For financial advisors, the implications of this research extend beyond one company. It signals a shift in how the private market is approaching housing as an investable theme. Multi-residential real estate is no longer viewed solely as a source of yield; it is becoming a platform for addressing structural economic needs. That convergence

Educating investors

Capital strength matters. Funds that maintain conservative leverage can act quickly when pricing opportunities emerge. Timing and selection are critical. Acquiring in submarkets with constrained supply and proven demand supports long-term appreciation. Operational quality creates resilience. Well-run assets are more likely to retain residents and revenue even during market transitions. Data is the new discipline. Decisions rooted in verified information, not sentiment, can help reduce risk and increase predictability.

Lang believes that mindset will define the next real estate investment cycle, now beginning to take shape as green shoots emerge across the broader market. “Funds taking data-driven actions today are best positioned for tomorrow,” he says. “That has guided our approach from the beginning and allows us to perform through all types of market conditions.” Building momentum through alignment Although headlines often emphasize near-term softness in rental markets, this new cycle will continue to be driven by the sector’s fundamental strengths. National vacancy rates sit near historic lows, and purpose-built rental continues to show

outsize stability even in markets where rents have fallen more sharply. Population growth continues to exceed existing and new supply, and governments are now signalling greater alignment on policy reform. Together with potential interest rate reductions, these forces create a supportive backdrop for long-term investors − one that aligns closely with Concordia’s findings. Equiton’s own portfolio results reinforce that resilience, with same store revenue and net operating income both advancing in 2025 despite the more cautious investment environment. Equiton’s integration of research, technology, and disciplined management shows how private investment can play a constructive role in addressing a national issue while delivering steady value for investors. It demonstrates that real estate investing, done with precision and purpose, can strengthen both portfolios and communities.

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