The real estate industry has been cautiously assessing the recent economic impacts on the purpose-built market.
Edmonton, the target city for ProCura’s multi-family construction projects, has released two reports (June, 2020) which show continued resiliency in the rental industry.
Despite a tighter vacancy level, Edmonton saw greater rental supply in both purpose-built and condominium rental markets. Growing rental demand is also present in the investor-owned condominium rental market.
Versus last quarter, continued resiliency of the rental sector, as average occupancy rates increased. As regulations begin to ease in the city and people can return to more normalized economic and social standards, UA anticipates the rental market will continue its positive absorption momentum into the second half of the year.
Edmonton, nestled in the heart of western Canada’s prairie, 1.4 million people call Alberta’s capital city home. With 52 weeks worth of festivals and events, top-notch cuisine, and the largest urban park in all of North America, Edmonton has much to offer.