Calgary rent remains high despite vacancy increase
Posted Dec 18, 2009 1:10 am.
This article is more than 5 years old.
Thanks to the recession it is easier to find an apartment in Calgary, but that really hasn’t had much of an impact on cost.
New numbers show that Calgary’s vacancy rate is double that from last year, but prices are only down about 4 per cent at about $1,100 for a two bedroom suite.
A representative from Canada Mortgage and Housing tells CTV, simple supply and demand pressures aren’t the only factors in apartment pricing.
He says in Calgary, property values and income levels tend to be a bit higher, as well as construction costs, which impact and contribute to higher rental rates.
Calgary has the second most expensive rental rates for major cities, but at least we don’t live in Fort McMurray, where a two bedroom flat there goes for more than $2,100 dollars a month.
