Edmonton Real Estate Market

[Stevey_G]

Not sure if I have used the phrase "lump sum" correctly in my previous message. For "lump sum" I meant if the apartment costs $100K, then I have $100K cash in my bank account and buy the apartment without mortgage. Just would like to confirm "lump sum" purchase of apartment is allowed in Canada.

Many rental companies I dealt with also accept bank statement with sufficient fund in lieu of employment. However, I have decided in live in Airbnb because I am not sure where my job will be.

Airbnb is a great idea! I never considered that.

Gives you some flexibility and doesn’t commit you to anything while you find a job. Good luck on your search, with initiative and hard work, you’ll find something. Great, that’s the Alberta Way.

 

[IanO]

What is a 'cap rate' you ask?
the rate of return on a real estate investment property based on the income that the property is expected to generate.

-a cap rate lower than five percent denotes lesser risk but a more extended period to recover an investment.

Cushman Wakefield Edmonton

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[IanO]

Affordability or the company that you keep?

 

[David A]

Interestingly, the company we keep is mostly based on proximity and region. The 20 least affordable places are all in Ontario and BC with only one exception.

Edmonton is ranked fairly close together with several other places in AB, Sask and MB again with one exception, so there is a very strong regional and geographic component to this.

 

[Oliver_William]

Great news for housing starts in Edmonton December 2023 from CMHC.

 

[Avenuer]

Great news for housing starts in Edmonton December 2023 from CMHC.View attachment 533711

Wow, what a jump from 2022 and especially since we had a higher total than Calgary, which has a higher population. Good news indeed!

 

[IanO]

2024 Canadian Housing Market Outlook

RE/MAX examines the Canadian housing market, national and local buying and selling trends, and prices in the country's major housing markets.

blog.remax.ca

 

[MacLac]

View attachment 533878

2024 Canadian Housing Market Outlook

RE/MAX examines the Canadian housing market, national and local buying and selling trends, and prices in the country's major housing markets.

blog.remax.ca

One thing to take away from YYC from this chart is glaring: “YYC’s are way over-leveraged on their mortgages and are trying to cash out with their 50% more listings than YEG.

 

[David A]

One thing to take away from YYC from this chart is glaring: “YYC’s are way over-leveraged on their mortgages and are trying to cash out with their 50% more listings than YEG.

Its probably a combination of this and some people who bought years ago retiring and moving away. It is a good time to be a seller there and some people are smart enough to know that and are able to take advantage of it.

 

[Kosy123]

https://www.avisonyoung.ca/documents/95662/193296756/Q4%202023%20Edmonton%20office%20market%20report.pdf/22ae06e5-8d87-9615-8029-18bb9695775d?t=1704991409558

New report Q4 2023 I think?

 

[IanO]

Interesting choices by A.I.

 

[thommyjo]

Interesting choices by A.I.

Is this a new spot for them being downtown? Or just expanding footprint? Seems really encouraging how much they grabbed!

 

[IanO]

They have space on 108st, Commerce Place, among others including here.

 

[northlands]

Alberta Govt has moved a lot of office space to ATB Place, lot of ELTs are there

 

[Kosy123]

CMHC report came out today and umm, more rentals being built soon I hope? According to the report, our vacancy rate has now reached Calgary's 2022 percentage.

(Link to Report)