This is where Western Investor believes real estate investors have the best chance to make the most money over the next two years
Real Estate is like manure
it helps Money Grow!
By Frank O’Brien
Welcome to Western Investor’s second pick of the top towns and cities in Western Canada where, in our opinion, real estate investors in both the commercial and residential sector have the best chance to profit. We compile this list every two years and our outlook is based on a two-year horizon, though many of these top markets should also perform long-term.
Alberta’s capital is in the midst of the largest development cycle in years, marked by the Edmonton Arena District that will include a new hockey arena and the second tallest office building in Western Canada. Building permits through the first half of this year were $3.5 billion, just behind Vancouver.
Posting the highest gross national product of any Canadian city, Edmonton offers a sterling advantage for real estate investors: relatively low prices with strong upside potential.
Edmonton’s median home price, at $368,000, is far below Calgary or Vancouver, and the average price per-suite for a rental apartment building is $122,400, the lowest among Canada’s top-tier cities. The rental vacancy rate is a tight 1.4 per cent.
The industrial market also has potential. Spec developers have had difficulty keeping pace with demand, which now equates to 400,000 square feet being leased up every quarter. Industrial land prices from $350,000 per acre are among the lowest in major Canadian cities.
OUR TOP TEN TOWNS
5 Cold Lake
7 Fort St. John
10 Red Deer