Affordability started recovering slightly since 2023, when it reached historical lows. For home ownership, we observed improved affordability, while for renters we saw stabilization over the last two years. Even with these improvements, we cannot overlook how much housing affordability has eroded in recent years, especially in Ottawa, Montreal and Halifax, clearly demonstrating that Canada's housing affordability crisis is no longer limited to Toronto and Vancouver.
The deal follows a period of rapid expansion for Lower, including the launch of a West Coast division in December led by Gino Fronti as the company continues to invest in geographic growth and talent across the country. The company also announced an acquisition of real estate portal Movoto from parent company OJO Labs in May 2025 and software company Neat Labs at the tail end of 2024.
Situated in the southern tip of Mumbai, the neighbourhoods of Colaba and Fort are home to dock yards, grand colonial architecture and most of the city's museums and contemporary art galleries. But as Mumbai's art scene grows, it is also expanding beyond its historic art district into the fashionable western suburb of Bandra and high-rise financial districts like Lower Parel and Worli.