CORPIQ denounces the lack of concrete housing measures and reiterates the urgency of the situation
The Corporation des propriétaires immobiliers du Québec (CORPIQ) notes the lack of vigor in the Quebec government's housing budget, while the gap between supply and demand continues to grow. With each passing day, the current crisis in the province worsens, as the quality of the housing stock continues to deteriorate and the housing shortage intensifies. Given this situation, CORPIQ wonders when the long-awaited measures will be announced, enabling real estate players to get down to business.
Concrete measures to boost renovation and improve housing ownership conditions
For several years, renovation of the rental housing stock has been anemic. The deterioration is so severe that it is leading to serious discontinuity effects. The durability of traditional housing stock is increasingly under threat. In a context where these homes are not receiving the investment required to maintain their condition, it is urgent to adjust renovation incentives, notably through a regulatory framework that has been overdue for several years. Changes are needed to facilitate access to lower-cost labor (more flexibility in Bill R-20, currently under study by Labor Minister Jean Boulet), and a reduction in amortization periods on investments (returns on maintenance and major work).
According to CORPIQ Chairman Éric Sansoucy, "the costs of owning and managing rental properties are skyrocketing, and there is no longer any financial room for the maintenance and renovation of the rental stock. This situation has a direct impact on supply, as it opens the door to changes of use or renovations that mark discontinuities in terms of accessibility". He adds that "the fact that holding property is so unprofitable also has an impact on the construction of new housing, since the business risk has become far too great for many developers in the current context. We need a strong signal from the government to adjust regulations, both to facilitate access to lower-cost labour and to obtain better returns on investment when major work is carried out", he concludes.
CORPIQ also welcomes the announcement that the Allocation-Logement program will be extended until 2027, a measure that is absolutely essential in the current context.
Boosting construction: the need for urgent action
Unfortunately, neither the $240 million earmarked in the budget for the construction of 4,700 housing units, nor the 7,500 more announced for 2025-2026, will be enough to reverse the trend or bring about any significant change. The current crisis calls for much more muscular action and initiatives to revive a construction sector that is currently flat. We need to stimulate the private sector by making construction economically viable, notably through short-term measures such as eliminating the QST.
