Edmonton Gets High Marks
Nov. 16, 2003
Edmonton Sun
A new province-wide study has identified Edmonton as the best community in Alberta in which to invest in real estate this year.
According to the Real Estate Investment Network's seventh annual report entitled The Top 10 Alberta Towns To Invest In, Edmonton's potential for return on investment outstripped the 30 other Alberta cities and towns included in the study.
The 40-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 report also indicates that the Edmonton market will spend a relatively short period of time at the plateau before moving on to more activity and higher prices. Rent rate hikes are predicted to average between four and six per cent next year.
"We are very pleased the Real Estate Investment Network is again recognizing Edmonton as an ideal place in which to invest," said Allan Scott, president and CEO of Economic Development Edmonton. "REIN's report is another credible endorsement of
Edmonton's long-term economic climate."
Edmonton ranked second in the province in 2002 and first in both 2000 and 2001.
REIN has over 760 members with over $500 million in cumulative investments. The network's researchers created the report using compiled data from sources which include the Government of Alberta, Canada Mortgage and Housing Corporation, Statistics Canada, Conference Board of Canada, Alberta Real Estate Council and municipality representatives.