Edmonton Named Number 1January 01, 2004
Edmonton Tops List of Alberta Communities in which to Invest in Residential Real Estate
Calgary, Alberta – January 5, 2004 – Edmonton has been identified as the best community in Alberta in which to invest in residential real estate this year, in a new province-wide study by the Real Estate Investment Network or REIN™.
None of 30 other cities and towns in the province that REIN™ studied offers greater potential for return on investment than Edmonton, says REIN’s seventh-annual report entitled “The Top 10 Alberta Towns to Invest In.”
Edmonton ranked second in 2002, and first in 2001 and 2000, in similar REIN™ studies – meaning the Edmonton capital has placed first during three of the past four years.
REIN’s latest 37-page report describes Edmonton as “entering the predicted real estate plateau, as the market takes a breather. Every real estate boom in history has at least two of these plateaus, which include higher vacancy rates and more stable price increases. This temporary plateau will prove to be a tremendous buying opportunity.”
‘The long-term economic fundamentals behind the Edmonton market will propel the city’s real estate and rental market through the plateau more quickly than in most cases,” REIN’s report adds. ”July 2003 saw the average real estate prices a strong 8.3-per-cent above July 2002, showing continued market strength as the plateau begins. Average rents are expected to increase a modest four to six per cent this next 12 months.”
Allan Scott, President and CEO of Economic Development Edmonton, said: “We are very pleased the Real Estate Investment Network is again recognizing Edmonton as an ideal place in which to invest. REIN’s report is another credible endorsement of Edmonton’s long-term economic climate.”
After Edmonton, the next-best Alberta community in which to invest is identified in the report as the nearby town of Devon – followed, in descending order, by Sylvan Lake, Calgary, Red Deer/Okotoks (tied for fifth place), Lacombe/High River (tied for sixth), Cochrane, Grande Prairie, St. Albert and Fort McMurray.
Simply knowing the names of the top-ranking communities isn’t enough to guarantee success if you invest in real estate there, the REIN™ report warns: “The key is to discover what types of real estate to invest in to achieve your specific goals, and what critical due diligence you must complete before you invest. It is imperative that you follow a proven investment system before you take action.”
Using REIN’s investment system, its 900-plus members (mostly in Alberta, but also in British Columbia, Saskatchewan and Ontario) have acquired more than 8,200 residential real estate investment properties that are worth a cumulative $750 million – and growing.
“Since 1984, we have been studying the economic and demographic affects on the real estate in cities and towns across Canada,” said REIN™ President Don R. Campbell. “We have boiled all of the numbers down to three critical indicators called the ‘Booming Statistics.’ These three indicators, and their proper use, are described in detail in REIN’s Real Estate ACRE System Program. Over the years, we have used these indicators to discover the best towns to invest in for maximum return on investment.”
To produce the “Top 10 Alberta Towns to Invest In” report each year, REIN™ researchers compile data from a variety of respected sources including the Alberta government, Canada Mortgage and Housing Corporation, Statistics Canada, Conference Board of Canada, Alberta Real Estate Council, and representatives of specific municipalities. Researchers also do extensive fieldwork – traveling to 31 Alberta communities this year to interview local officials, assess local economies, inspect local housing inventory, etc.
REIN’s 1,000-plus members gather at carefully structured workshops each month in Calgary, Edmonton, Vancouver and Toronto to learn and discuss the latest trends and strategies in residential real estate. They often tap into information sources not easily accessible to the general public, which gives them a distinct advantage in the marketplace.
Each monthly session offers REIN™ members:
REIN™ also offers members an additional resources via a password-protected area on its Web site (www.albertarein.com). They include the opportunity to:
For an interview with REIN™ President Don Campbell, call 1-888-824-7346. For more information about REIN™, go towww.albertarein.com
Don R. Campbell