thommyjo
Senior Member
That’sif you include surrounding communities. Which we have more people living in vs Calgary (st Albert, Sherwood park, parkland county, Beaumont, Leduc).
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Edmonton Real Estate Market
- Thread starter Daveography
- Start date
Gronk!
Senior Member
To be fair, Calgary has Airdrie, Cochrane, Okotoks and Chestermere as their surrounding communities.
Oliver_William
New Member
For what it’s worth.
Labour force characteristics by census metropolitan area, three-month moving average, seasonally adjusted
First column is September 2023 and second column is October 2023
ChazYEG
Senior Member
Nope.
Edmonton PROPER has around 1.15M, Calgary PROPER has just under 1.4M
Edmonton CMA has around 1.55M
Calgary CMA has around 1.65M
occidentalcapital
Senior Member
Sounds right!
It is nice to see the ongoing growth of both cities and frankly they both look pretty unstoppable in terms of growth right now.
thommyjo
Senior Member
That’s literally what I was saying haha. The 1.5 vs 1.6 numbers are including surroundings. I was responding to maclac being confused by the prior comment suggesting 1.1 and 1.4. Instead of the larger numbers.
newcomer2023
New Member
I am a new comer in Edmonton and I would like to ask for some advice.
I am now looking for a job and hence I am not 100% certain I will stay in Edmonton (I am a chemist). I would like to stay in Edmonton if I can, but will need to relocate if my job requires me to do so. My question is:
Is it possible for me to have a rental contract in Edmonton for 1 year? What if I got a job and have to relocate during this 1 year? Any methods to deal with this?
I am now looking for a job and hence I am not 100% certain I will stay in Edmonton (I am a chemist). I would like to stay in Edmonton if I can, but will need to relocate if my job requires me to do so. My question is:
Is it possible for me to have a rental contract in Edmonton for 1 year? What if I got a job and have to relocate during this 1 year? Any methods to deal with this?
ChazYEG
Senior Member
My bad. I ignore his posts, so it got lost in translation.
I was actually finding it very weird that you seemed to be giving very inacurate information. You're usually very spot on
thommyjo
Senior Member
Haha. All good.My bad. I ignore his posts, so it got lost in translation.
I was actually finding it very weird that you seemed to be giving very inacurate information. You're usually very spot on
More controversial discussion is if Edmonton or Ottawa should be counted as the #5 city in canada. Oh the Urbanity always snubs Edmonton in their videos sadly, including a recent one where they looked at data of canadas “5 biggest cities”. Has Edmonton not passed Ottawa at this point? I know we’re pretty close and there are different ways to measure though.
northlands
Senior Member
Yes, one year leases are very common. Should you need to relocate before your lease is done, you would have to break your lease. Some landlords will be more forgiving than others. Legally, if you break your one lease early, lets say for example after two months, you are on the hook for the remaining 10 months of rent. However, the landlord must also make reasonable efforts to rent out the space again and once they do you are no longer on the hook. Some landlords may just make you pay a penalty (maybe 1-2 months rent, or just $1000 or whatever) and then have you move on. Perhaps a worthwhile discussion to have with any future landlord to avoid headaches later on.
Some landlords may do a six month lease; that might be most advantageous if you don’t know if you’ll be staying in Edmonton. You may also find something like a longer term AirBnB stay. The condo unit next door to mine is an AirBnB, but just recently a guy rented it for a six month stay.
ChazYEG
Senior Member
We don't have updated official census data, I believe, but according to estimates, Edmonton (1.132M) proper is the 4th largest and Ottawa (1.078M) is the 5th; the city proper estimates are from the respective municipal governments.
Edmonton CMA (1.556M) is the 5th and Ottawa-Gatineu CMA (1.516M) is the 6th. These are estimates by Statistics Canada.
Edmonton CMA was already at 1.516M by the end of 2022 according to statistics Canada.
TAS
Senior Member
Interesting video on a number of Toronto developers in trouble - and apparently a notable one in Vancouver.
The One in Toronto (planned to be tallest condo in Canada - and luxury) is in receivership and $1.6 billion in debt. Developer is Mizrahi.
Edmonton is noted in this video for some of the highest construction costs if I am understanding this graph correct?
The One in Toronto (planned to be tallest condo in Canada - and luxury) is in receivership and $1.6 billion in debt. Developer is Mizrahi.
Edmonton is noted in this video for some of the highest construction costs if I am understanding this graph correct?
TAS
Senior Member
Further to above, 60% of Toronto condo sales of buildings constructed in the past 5 years are purchased by investors. It's about 50% in Vancouver and that number has been climbing in Calgary now.
Edmonton must barely register since in this regard and as we know, basically no new product on the market.
I wonder if The Clifton's sales are mostly from investors?
Edmonton must barely register since in this regard and as we know, basically no new product on the market.
I wonder if The Clifton's sales are mostly from investors?
IanO
Senior Member
Buildings/projects such as the Clifton are not investor driven and similar to the uber-$$$ low-rise on Victoria Promenade are typically wealthy Edmontonians who now only spend a portion of the year here and want something nice, but no maintenance so they can live in Palm or Scottsdale or or or.
David A
Senior Member
That's not a bad thing at all. Nice places that well off people can live in and not have to worry about yard maintenance when they travel and if they are away a lot.
All those investor condo's in places like TO and elsewhere are often tiny, geared towards rentals and were quite popular when interest rates were low a few years ago.
It seemed like a good idea at the time, but now, lots of those investors are losing money on them due to higher interest rates and the values are going down not up.
All those investor condo's in places like TO and elsewhere are often tiny, geared towards rentals and were quite popular when interest rates were low a few years ago.
It seemed like a good idea at the time, but now, lots of those investors are losing money on them due to higher interest rates and the values are going down not up.