Calgary Real Estate Rental Rates; Among the Highest in Canada
Falling behind only Vancouver, Calgary’s real estate rental rates are the 2nd highest in Canada. Average rents for a two-bedroom unit were just below $1,100, down $48 from the previous year.
We can expect these rates to drop a little further (but still remain in second place nationally) in the Calgary real estate rental market due to an increase in vacancies. The vacancy rate in the Calgary rental market climbed to 5.3% which is higher than the provinces average of 5.5% (a 3% increase from last year). Alberta isn’t the only one; eight out of ten Canadian provinces have experienced an increase in vacancy rates in October 2009.
So what does this vacancy jump mean for potential buyers and…