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Exercising the Condominium Tenure Option: A Case Study of the Canadian Housing Market

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  • J Meligrana

    (Department of Geography, Simon Fraser University, Burnaby, British Columbia V5A 1S6, Canada)

Abstract

With data from the National Survey of Condominium Occupants conducted by Canada Mortgage and Housing Corporation, the relevant differences between a sample of renters who decided to purchase a condominium and a sample of homeowners who decided to sell their dwelling to buy a condominium are described. The subpopulation differed with respect not only to life-cycle stages and household economic resources but also to stated housing preferences and future housing plans. For example, previous renters were found to be younger households in the earlier stages of the life cycle who purchased lower priced condominiums with more borrowed funds than previous homeowners. A proportion of previous renters, however, were found to be entering the condominium sector late in life. Previous owners, the majority of whom moved from the freehold ownership market, preferred condominium ownership as means of gaining greater physical security and less direct maintenance responsibilities and, therefore, searched for only condominium housing. On the other hand, tenants sought initially to gain entrance into the freehold ownership market before deciding on the purchase of condominiums. Previous tenants are planning to use the equity of their condominiums to move into single detached houses within a short period of time, whereas for previous owners the condominium sector presents a final stage in housing demand. It is concluded that life-cycle stages and household economic resources continue to dominate a household's tenure transition, but this must also be combined with tenure and housing preferences as well as long-term or future housing plans.

Suggested Citation

  • J Meligrana, 1993. "Exercising the Condominium Tenure Option: A Case Study of the Canadian Housing Market," Environment and Planning A, , vol. 25(7), pages 961-973, July.
    • Handle: RePEc:sae:envira:v:25:y:1993:i:7:p:961-973
    DOI: 10.1068/a250961
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    References listed on IDEAS

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    1. King, Mervyn A., 1980. "An econometric model of tenure choice and demand for housing as a joint decision," Journal of Public Economics, Elsevier, vol. 14(2), pages 137-159, October.
    2. Chris Hamnett, 1984. "Housing the Two Nations: Socio-Tenurial Polarization in England and Wales, 1961-81," Urban Studies, Urban Studies Journal Limited, vol. 21(4), pages 389-405, November.
    3. Mervyn A. King, 1980. "An Econometric Model of Tenure Choice and Demand for Housing as a Joint Decision," NBER Chapters, in: Econometric Studies in Public Finance, pages 137-159, National Bureau of Economic Research, Inc.
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