Yet many can't even afford one.
Are you 35 years old or younger and own more than one property in Toronto? If the answer is no, don't fret. Currently, 18% of homeowners under 35 years old in Toronto do.
According to a report released by Royal LePage, which surveyed 500 people in the GTA in June 2021, a larger percentage of homeowners under the age of 35 own multiple properties than those older than 35 years old.
Only 11% of homeowners over the age of 35 own more than one property, which is 7% less than those 35 years old or younger.
Regardless of age, the report found that, in total, 13% of Canadians in Toronto own more than one property and 64% of them rent it out.
Of those surveyed, 42% said that they used the equity from their main residence to buy their second property.