The article, based on a study by Ontario’s Municipal Property Assessment Corporation (MPAC), explores the surge in self-storage demand in Canada, particularly in areas witnessing the construction of new high-rise apartment buildings. The question posed is intriguing: Are Canadians accumulating too much stuff, or are the new high-rises simply too small to contain their belongings?
MPAC’s study reveals that there’s been a 9% growth in self-storage space in Ontario over the last three years, with 4.2 million square feet added. The drivers behind this growth include downsizing, creating space for remote work, and adapting to smaller living spaces. Interestingly, the average size of Ontario condominiums has decreased by 35% in the past 25 years, with a significant shift observed around 2015.
As highlighted in the article, Vaultra Storage has been a key player in this evolving landscape. Our unique door-to-door service has seen rapid growth, offering a convenient solution for individuals looking to store their belongings without the hassle of transporting them to a storage unit.
With a concierge-type service, Vaultra Storage picks up and catalogs items, providing valuable insights into the preferences of Canadians. Larger boxes and bins, tires, and super-bulky items constitute a significant portion of the items stored. More than 60% of our concierge storage business comes from condo-dwellers, reflecting a growing trend in urban areas.
The concierge model has allowed Vaultra to overcome geographical barriers, expanding our market reach to the entire Greater Toronto Area (GTA). This flexibility has been crucial in serving customers in high-rise neighborhoods without the need for expensive downtown locations.
While the self-storage industry is experiencing significant growth, the article also mentions the thriving warehousing and fulfillment centers for e-commerce businesses as the fastest-growing industrial property sector in Ontario. This indicates a continued demand for storage solutions in the years to come.
At Vaultra Storage, we’re proud to be part of the evolving self-storage landscape in Canada. The recognition in this article motivates us to continue providing innovative storage solutions that cater to the changing needs of our customers. Thank you for being part of our journey!
