A new study published by the Quebec Federation of Real Estate Boards (QFREB) says that although the intergenerational home market is evolving slowly in Quebec, “The fact remains that it is progressing and seems to be gaining in popularity among Quebec households. In a context where the population is aging, intergenerational homes are without a doubt an interesting option for promoting at-home care for seniors, while reducing their housing costs and improving the living conditions of the elderly.”
The study looks at the 2015 intergenerational home resale market in Quebec and compares it to the conventional single-family home market. It is based on transactions concluded in 2015 through the real estate brokers’ Centris system.
The study says the aging population “remains an ever-present factor that will undoubtedly influence the evolution of intergenerational cohabitation in the coming years. While the population aged 65 and over accounts for 18 per cent of Quebec’s population in 2016, it will reach 26 per cent in 2036 as baby boomers become older. In addition, the number of households headed by a person aged 75 and over will double in the next 20 years. As a result, many families are turning to intergenerational cohabitation as an alternative to the more traditional housing options, as it allows for mutual assistance and the ability to provide aging parents with better living conditions.”