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

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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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