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550,000 International Students Entered Canada in 2022 Raising Housing Demand

Posted by Editor on April 9, 2023

The number of new residents has increased in the nation, especially as more foreign students come to study there. In 2022, Canada admitted 551,405 new international students, breaking the previous record of 2021 by 107,145 students, according to Immigration, Refugees and Citizenship Canada (IRCC).

Due to the COVID-19 pandemic, there was a decline in the number of international students entering the country in 2020, with entries falling to 255,000. However, it didn’t take long for the numbers to pick back up in 2021, reaching a record 444,260.

Another record-high number, 807,750 international students have valid study visas as of December 2022. In addition, Canada welcomed 431,645 new permanent residents, the most ever in a single year in Canadian history, setting a new record high. Canada last welcomed this many immigrants in 1913.

Canada has experienced one of the fastest economic recoveries since the pandemic thanks to the influx of thousands of new international students and permanent residents. An expanding immigration population is essential to a thriving economy. By working, creating jobs, and supporting local businesses, immigrants contribute.


Particularly at a time when there is a labor shortage, immigration plays a significant role in boosting the Canadian economy. IDP Connect, a global education agency that specializes in student placement, reports that Canada is the top destination in the world for international students. The study demonstrates how Canada is preferred over other nations due to its higher educational standards, lower costs, ease of finding employment, and opportunities for immigration after graduation. For immigrants and students looking for a better life, Canada continues to be a great option.

You may be wondering where all these students are coming from. As of December 31, 2022, India held the top spot among the top 5 source countries for foreign students entering Canada, contributing 226,450 new students. With 52,165 new students, China came in second, followed by the Philippines with 23,380 and France and Nigeria, who were almost tied with 16,725 and 16,195 new students each.

In addition to the increase in students across the nation, Ontario also assisted in housing 411,000 students in 2022. This figure represents almost half of all foreign students in the nation.

The number of immigrants entering Canada will rise. Within the next three years, Canada will welcome the greatest number of immigrants ever thanks to the country’s newly approved 2023-2025 Immigration Plan. In 2023, 2024, and 2025, the nation plans to accept 465,000, 485,000, and 500,000 new immigrants respectively. The plan also emphasizes welcoming immigrants to various communities across the nation, including small towns and rural areas.

Potential investors have a fantastic opportunity given the number of students and immigrants entering Canada. Population growth will almost certainly result in a rise in housing demand. We advise looking for new condo developments close to post-secondary institutions if you are an investor. Investors can be sure that student tenants will be looking to rent in the vicinity of these areas because there is such a high demand for student housing. Contact a GTA-Homes agent today to find out more about the advantages of investing near post-secondary institutions!

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