Housing minister Gregor Robertson’s multimillion-dollar real estate portfolio came under scrutiny in Parliament as Scot Davidson accused him of prioritizing personal wealth over housing affordability
A heated exchange in Parliament this month has drawn renewed attention to the real estate holdings of federal Housing Minister Gregor Robertson, after Conservative MP Scot Davidson questioned the minister’s credibility on tackling Canada’s housing affordability crisis.
“After telling Canadians he didn’t want home prices to go down, we now learn the Liberal housing minister, Gregor Robertson, holds a $10-million real estate empire,” Davidson said in the Huse of Commons. “Canadians struggling to afford a home have every reason not to trust the Liberals on housing.
Davidson, who represents a riding north of Toronto, pointed to Robertson’s initial remarks after being named housing minister by Prime Minister Mark Carney. Asked if house prices should decline, Robertson said “no,” which raised eyebrows given the ongoing affordability crisis in cities like Toronto and Vancouver.
“The Liberal housing minister says he doesn’t want house prices to go down,” Davidson told Parliament. “While every day Canadians are priced out of a home. He says he’s focused on protecting people’s assets.
“Well, now we know why.”
Davidson alleged that Robertson holds a personal real estate portfolio worth more than $10 million, citing reporting by Vancouver journalist Bob Mackin.
“From his Vancouver penthouse, this minister is sitting atop a personal real estate empire worth over $10 million, including luxury properties in Tofino and Squamish and on English Bay,” Davidson said. “Why is it the only thing getting built under this housing minister is his personal fortune?”
In response, Robertson said he is complying with parliamentary rules regarding disclosure of personal assets.
“I will caution the member on using inaccurate facts,” he said.
According to public records, Robertson owns a high-rise penthouse in Vancouver’s West End valued at $2.4 million, a recently acquired $2.8-million 11-acre property near Tofino through his company 11 Otters Investments Inc., and has an interest in a 16-acre property near Squamish valued at $5.6 million.
Robertson has not confirmed the total value of his holdings. His office says all disclosures will be made in accordance with requirements from the federal ethics commissioner. The public registry is expected to be updated in the coming months, as MPs file declarations on investments and potential conflicts of interest.
Robertson has defended his housing stance by saying the goal is to protect what is, for many Canadians, their most valuable asset.
“I was advocating for delivering more government-subsidized affordable housing,” he told reporters, later clarifying on social media that “a home is their most valuable asset” for many citizens.
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The scrutiny over politicians’ real estate investments is not new. Former housing minister Ahmed Hussen faced backlash in 2023 for renting out two condos while in office. His replacement, Sean Fraser, was reportedly selected partly to avoid further controversy. Data compiled by Davide Mastracci suggests one-third of Liberal cabinet ministers have profited significantly from investment properties.
This issue comes amid a broader affordability crisis. Nearly 30% of all Canadian properties are owned by investors, and more than half of all new condos in Toronto and Vancouver are bought by people who already own homes. This investor-driven demand has pushed prices higher, contributing to the construction of smaller, less livable units, often criticized as “dog crates in the sky.”
Canada Mortgage and Housing Corporation (CMHC) has adjusted its goals accordingly, moving away from the affordability benchmarks of 2004 and now aiming to restore market conditions to 2019 levels. However, that year also saw Vancouver ranked the second most unaffordable city globally, just behind Hong Kong.
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