Single women are driving Canada’s condo market, according to data released by the Canadian Mortgage and Housing Corporation (CMHC).

The 2013 Canadian Housing Observer, published in December 2013, found that of those living on their own, women account for nearly two-thirds of condo owners (65 per cent).

Factors contributing to the popularity of condo ownership among women included:

• Low maintenance demands
• Location-efficiency (e.g. close to amenities, established neighbourhoods)
• Safety
• Unit features and building amenities (e.g. gyms, walk-in closets, large bathtubs)

Other factors appealing to females include financial stability, and the option for some design customization in unit finishes and fixtures.

The report, which focused on condominium data from 2011, found that the vast majority of individuals opting for condo ownership were still those living alone, or couples without children.

The report further revealed a growing interest in condominium ownership over the last three decades: “Condominiums nearly quadrupled their share of the homeownership market to 12.6 per cent of owner-occupied dwellings in 2011 from 3.3 per cent in 1981.”