A recent report ranked Calgary as the top real estate investment market in Canada
Calgary, Alberta (PRWEB) November 21, 2012
The market for Calgary apartments is about to get tougher.
A recent report ranked Calgary as the top real estate investment market in Canada, followed by Edmonton. The Real Estate Investment Network Ltd. released a report, Top Alberta Investment Towns, identifying the towns and regions that will outperform over areas in province over the course of the next three to five years.
Calgary – thanks to oil and exports, business investment and consumer spending – leads the pack, which is no surprise to anyone.
“Recording a GDP growth of three per cent in 2011, and one of the lowest unemployment rates in the country, it’s no wonder Calgary is sitting as one of the top places in North America for property investors,” the report reads.
What does it mean for real estate and Calgary houses for rent?
“The market is hot,” it goes on. “With the pressure on the resale housing market, there is similar pressure on the rental market. Inventory has dropped for rental accommodations while monthly rents have increased. Real estate investors and real estate agents are reporting that rental listings are being pounced on.”
RentClick.ca currently has listings for Calgary apartments and other rentals.
Any listing results in a property owner’s phone ringing off the hook.
“Savvy investors purchasing units and advertising them for rent upon close are receiving calls from anxious tenants waiting to see the unit before the investor has possession and/or has done any improvements to the property,” the REIN report reveals.
The report expects rental costs to continue increasing and availability of units decreasing, which could cause strain on the rental market, especially for students and low-income tenants.
RentClick.ca connects landlords and property managers who have rental properties to tenants who need to rent accommodations. We are a group comprised of renters and property owners, giving us a unique understanding of tenant and landlord needs. RentClick.ca advertises property rentals in Saskatchewan, Alberta and British Columbia.