Rental costs on P.E.I. are rising at one of the fastest rates in the country, despite the province having what Housing Minister Rob Lantz describes as “the most rigorous rent control regulations” in Canada. Data from Statistics Canada show rental costs on P.E.I. increased by 23.6 per cent between 2019 and 2023. Those numbers give P.E.I. the third largest increase in the country, well above the national average of 16.5 per cent. Growing rental costs have also been one of the key components driving P.E.I.’s inflation rate. As to why rents have gone up so much even with rental controls in place — there are a few reasons. “Certainly with the pressure with population growth and rising costs
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