Canada Serviced Apartment Market

Canada Serviced Apartment Market Insights Forecasts to 2035

• The market for Serviced Apartment was estimated to be worth USD 2.66 Billion in 2024.
• The market is going to expand at a CAGR of 15.67 % between 2025 and 2035.
• The Canada Serviced Apartment market is anticipated to reach USD 13.19 Billion by 2035.

According to a research report published by Decision Advisor & Consulting, the Canada serviced apartment market is anticipated to Hold USD 13.19 Billion by 2035, growing at a CAGR of 15.67 % from 2025 to 2035. Canada’s serviced apartment market offers strong opportunities driven by rising business travel, increasing relocation needs, growth in extended stays, and demand for flexible, fully furnished accommodations from corporate clients, remote workers, and international visitors.

Market Overview

The Canada serviced apartment market is expanding steadily, supported by growing demand for flexible, fully furnished accommodations among business travelers, project-based workers, relocating professionals, and long-stay tourists. Urban centers such as Toronto, Vancouver, Calgary, and Montreal are seeing increased corporate mobility and international assignments, boosting the need for extended-stay housing options. Serviced apartments are becoming popular alternatives to traditional hotels, offering more space, home-like amenities, and cost efficiency for longer stays. The rise of remote and hybrid work has also encouraged individuals and companies to seek temporary living solutions across major cities. Additionally, immigration-driven population growth and short-term housing shortages further support market development, making serviced apartments an essential part of Canada’s evolving lodging landscape.

Report Coverage

This research report categorizes the market for the Canada serviced apartment market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada serviced apartment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada serviced apartment market.

Driving Factors

Key driving factors for the Canada serviced apartment market include the rise in business travel, corporate relocations, and project-based assignments across major industries. Growing demand from long-stay international visitors, students, and remote workers further boosts market adoption. Serviced apartments offer greater affordability, privacy, and space compared to hotels, making them attractive for extended stays. Additionally, strong immigration levels, urban housing shortages, and increased preference for flexible, home-like accommodations continue to support steady market expansion across major Canadian cities.

Restraining Factors

The Canada serviced apartment market faces restraints such as high property development costs, regulatory limitations on short-term rentals, and competition from hotels and home-sharing platforms. Limited availability in smaller cities also restricts expansion and reduces accommodation options for long-stay travelers.

Market Segmentation

The Canada serviced apartment market share is classified into type and end use.

• The long term segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Canada serviced apartment market is segmented by type into long term and short term. Among these, the long term segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Driven by strong demand from corporate travelers, relocating employees, international students, and project-based professionals. This segment is also expected to grow at a notable CAGR during the forecast period, supported by rising extended-stay needs, increasing workforce mobility, and the growing preference for spacious, cost-effective accommodations compared to hotels.

• The corporate/business traveler segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Canada serviced apartment market is segmented by end use into corporate/business traveler, leisure travelers, and expats and relocators. Among these, the corporate/business traveler segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This segment is also expected to grow at a notable CAGR during the forecast period, driven by increasing corporate mobility, rising project-based work across industries, and a continued shift toward serviced apartments as a cost-efficient alternative to hotels for extended business stays.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada serviced apartment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Premiere Suites
• Corporate Stays
• Sonder Holdings Inc
• DelSuites Inc.
• Today Living Group
• Situ accommodation
• National Corporate Housing
• Blueground
• The Apartment Network
• Toronto Boutique Apartments (TBA)

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2035. Decision Advisor has segmented the Canada serviced apartment market based on the following segments:

Canada Serviced Apartment Market, By Type

• Long Term
• Short Term

Canada Serviced Apartment Market, By End Use

• Corporate/Business Traveler
• Leisure Travelers
• Expats & Relocators

FAQ’s

Q: What is the Canada serviced apartment market size?

A: Canada serviced apartment market size is expected to grow from USD 2.66 Billion in 2024 to USD 13.19 Billion by 2035, growing at a CAGR of 15.67 % during the forecast period 2025-2035. 

Q: What are the key growth drivers of the market?

A: Key driving factors for the Canada serviced apartment market include the rise in business travel, corporate relocations, and project-based assignments across major industries.

Q: What factors restrain the Canada serviced apartment market?

A: Limited availability in smaller cities also restricts expansion and reduces accommodation options for long-stay travelers.

Q: How is the market segmented by type?

A: The market is segmented into long term and short term.

Q: Who are the key players in the Canada serviced apartment market?

A: Key companies include Premiere Suites, Corporate Stays, Sonder Holdings Inc., DelSuites Inc., Today Living Group, Situ Accommodation, National Corporate Housing, Blueground, The Apartment Network, and Toronto Boutique Apartments (TBA).

Q: Who are the target audiences for this market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers (VARs)