Market among best in province for investment
Nov. 13, 2003
Steve Dills Editor
Sylvan Lake News
Sylvan Lake’s real estate market is among the best in Alberta for investment.
The community was ranked third, behind Edmonton and Devon, in the Real Estate Investment Network’s (REIN) 2003 report, released Wednesday. The organization based its report on the return-on-investment potential of 31 Alberta cities and towns.
Following Sylvan Lake on the list were Calgary in fourth place, Red Deer and Okotoks tied for fifth, Lacombe and High River tied for sixth, Cochrane in seventh position, followed by Grande Prairie, St. Albert and Fort McMurray.
Sylvan Lake has been a consistent winner for investors, said information from REIN. It was third in similar studies in 2002, 2001 and 2000.
“Sylvan Lake is Alberta’s premier lake. Ninety per cent of Alberta’s population is within a 1 ¾-hour drive of the lake’s shores, creating a high demand for both recreational and residential real estate,” said the report.
“Rental vacancies have been sitting at zero for the last three years. The demand is rated as ‘critical,’ which will continue to drive both rental rates and property values upwards. Rental opportunities in condominiums, single-family houses and multi-family properties should be pursued with vigour.”
Speaking of economic facts, the report said, “lifestyle choice is another key factor driving the population growth in Sylvan Lake. A unique phenomenon that we’re witnessing is the ‘sanctuary’ trend. This is revealed in the instances where companies and independent contractors are locating their employees and families in the town.
“These are mostly in industries where the employees work ‘in the field,’ not at a main office (ie - software companies, design companies, oil-field support companies). So when these employees do have to leave town for a project, they know that their families are living in a safe and enjoyable environment. In addition, the lifestyle that Sylvan Lake provides allows these companies to attract and keep key employees in high turn-over industries.”
Real Estate Investment Network is a Calgary-based education-oriented investment group. The network has more than 760 members who pay a monthly fee for unbiased research to assist in targeting opportunities in residential real estate.
