Housing experts predict Calgary’s rental market to see another year of high vacancies, low rents.

In 2016, about 30 per cent of apartment condos bought by investors end up in Calgary’s rental sector.

 

2016, about 2,500 new units came on to the rental market – a mix of new purpose-built homes and investor-owned condominium units, noted CMHC.

 

As of the end of the year, Calgary had 36,523 purpose-built units, an increase of 1,296 over 2015.

 

Another 1,262 investor-owned condos came on the rental market.

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And while condo construction was down from previous years in 2016, almost 9,000 units were under construction last August – some of which, as completed, will hit the rental market this year. 

 

Source : Creb News

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