2025 Canada Immigration Outlook

As the increase in non-permanent residents accounted for 60 per cent of population growth between 2023 and 2024, current measures aimed at reducing the size of this group are expected to drive most of the slowdown in population gains from 2025 to 2027. The multifamily sector will bear the brunt of slower population growth. Other sectors, such as retail and industrial, could also experience reduced demand.

• Overview of Canada’s immigration policy changes and the impact on population growth.
• Analysis of the effect of slower population growth on commercial real estate sectors in Canada and major metropolitan areas.