CMHC published its Rental Market Report highlighting the key metrics and trends characterizing the Calgary real estate market
Key takeaways:
Calgary’s rental demand remain high on migration-led population growth. This includes interprovincial and international arrivals
This net migration also drove up unemployment as more people arrived than there were jobs available
Vacancy rates increase due to more multifamily housing being completed, particularly for purpose-built rentals
Vacancy rate increases were most pronounced on new builds. This indicates that there is still a flight to affordability among renters
My insight - older, suited properties are still very viable for real estate investors, with low vacancy rates among these units
