A growing population, mainly workers drawn to the oil and gas industries enjoying a resurgence, has led to an unexpected but welcome property development boom in Edmonton. Construction is in high gear with 5,000 new rental units added to the listings, and 46 more properties are being developed. All these are expected to accommodate the anticipated 68,100 new residents expected to settle in Edmonton this year, says a report from the Canadian Real Estate Wealth Magazine
Vacancy rates likewise lowered from 1.7 per cent in the last quarter of 2012 to 1.2 per cent in the same period of 2013.
Sales volumes of apartment buildings rose by 35 percent to a figure of $301. 5 million in 2013.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate