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The Edmonton apartment market
In Edmonton, Urban Analytics is tracking 201 new purpose-built rental projects with 16,167 units, of which 2,478 units are available. According to the CMHC, the rental vacancy rate was 7.2 per cent in 2020, up from 4.9 per cent in 2019.Research indicates there are 67 projects being contemplated in Edmonton consisting of 14,259 units, with 25 projects under construction comprising 4,328 units.
In a panel discussion at the conference, Samuel Dean, senior vice-president, capital markets, multifamily for JLL, said lower demand and higher supply has driven the climb in the rental vacancy rate in Edmonton.
“I think we’re starved for human interaction. We’re going to see a return to the core and a push to work/live,” he said.
Western Canada apartment market poised for growth
The apartment sector in Western Canada is poised to grow this year with several key demographic fundamentals driving the market and industry executives expecting a new influx of people into big-city cores. At the virtual Western Canada Apartment Investment Conference
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