02-13-2014, 09:42 AM
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#2
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Franchise Player
Join Date: Mar 2012
Location: Sylvan Lake
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Quote:
Originally Posted by puckluck2
http://www.calgaryherald.com/touch/b...tml?rel=841484
Calgary has the lowest vacancy at 1%. No surprise as a lot of people are getting $2500-$3000 off of Bungalows in Forest Lawn. Rental rates are still sky rocketing too and imo come summer the vacancy rate will be even lower with the price of rent increasing even more.
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Why will the vacany rate drop in the summer? (honest question)
I would have thought it would go up, students leaving the city for the summer, and the number properties reaching their end date of restoration post flood should be greater.
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02-13-2014, 09:57 AM
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#3
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First Line Centre
Join Date: Oct 2005
Location: 103 104END 106 109 111 117 122 202 203 207 208 216 217 219 221 222 224 225 313 317 HC G
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Yeah, really not happy as a renter. I'm also wary of condo buying, so I'm stuck until I buy a house. I'm hoping we can see some movement in the condo market in the next few years to help ease the crunch. Also getting secondary suites approved would help this.
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02-13-2014, 10:05 AM
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#4
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Backup Goalie
Join Date: Dec 2013
Exp: 
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you cant build condos fast enough for the population influx. A 200 unit tower from planning to completion is probably 5 years. City needs like 20 new towers, on top of what's already being built, going up right now just to meet demand.
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02-13-2014, 10:12 AM
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#5
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Powerplay Quarterback
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Not really news other than maybe increasing rents. 2011 was sub 2.0%, and both 2012 and 2013 were sub 1.0%. It'll be interesting to see how the market plays out over the next few years. Might be more applicable to the Calgary Real Estate Predicitons thread - or not.
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02-13-2014, 10:36 AM
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#6
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In the Sin Bin
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Yeah. Its ridiculous. Basement suites with shared entrances are asking 1200
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02-13-2014, 10:59 AM
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#7
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#1 Goaltender
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/\ Really!?
I'm collecting $800 for a separate entrance in Sunnyside. Looks like it's time to jack the rent... 
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The Following 2 Users Say Thank You to kevman For This Useful Post:
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02-13-2014, 12:16 PM
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#8
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
The World Ends when you're dead. Until then, you've got more punishment in store. - Flames Fans
If you thought this season would have a happy ending, you haven't been paying attention.
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02-13-2014, 01:30 PM
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#9
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In the Sin Bin
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Quote:
Originally Posted by kevman
/\ Really!?
I'm collecting $800 for a separate entrance in Sunnyside. Looks like it's time to jack the rent... |
This is in the deep south. Rates seem to be a lot higher down here.
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02-13-2014, 03:12 PM
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#10
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Franchise Player
Join Date: Apr 2008
Location: Calgary
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There are quite few rental towers going through various stages of development planning/building right now. Still the earliest some of them may be on the market is 2-3 years.
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02-13-2014, 05:21 PM
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#11
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Lifetime Suspension
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Quote:
Originally Posted by undercoverbrother
Why will the vacany rate drop in the summer? (honest question)
I would have thought it would go up, students leaving the city for the summer, and the number properties reaching their end date of restoration post flood should be greater.
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More people from outside of the province come looking for work. I always get bombarded with phone calls around spring/summer from Quebec and Ontario. And I don't think students leaving would just ditch their place. They'd just pay for the months they're not there and come back to it. They aren't guaranteed to find a place if they do that. And just from experience, summer is always crazy in Calgary for rental. Slows down a bit in the winter but always picks right up in the summer.
Last edited by puckluck2; 02-13-2014 at 05:24 PM.
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02-14-2014, 07:34 AM
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#12
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Franchise Player
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I attended an economics dinner in Edmonton recently where three prominent economists spoke. One of them said Edmonton now has the highest inflation-adjusted rental rate in its history. Rental rates are horrid. It may be a good time to buy, as my son just did. Sorry, I don't know about Calgary but imagine it's similar.
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02-14-2014, 10:43 AM
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#13
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First Line Centre
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Quote:
Originally Posted by MoneyGuy
I attended an economics dinner in Edmonton recently where three prominent economists spoke. One of them said Edmonton now has the highest inflation-adjusted rental rate in its history. Rental rates are horrid. It may be a good time to buy, as my son just did. Sorry, I don't know about Calgary but imagine it's similar.
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Calgary does seem similar. I had a friend recently tell me he was looking for a rental and it is common for potential tenants to have cash on hand because if they don't they risk losing the place because of multiple showings. I haven't witnessed that myself but still sounds like a tough market for renters. When we did list our rental we had tons of applicants though
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Calgary and Edmonton have lowest vacancy rate in Canada
