Population growth and plenty of downtown development make Edmonton one of Canada’s most fertile markets to invest in, especially in the condo segment where condo properties earn a positive return with 25% down.
From Urban Analytics UA Take – Fourth Quarter 2016: ‘Holding Steady’
“Canada’s recent census data has verified that the City of Edmonton is outpacing the national rate of growth and retaining its ranking as Canada’s sixth largest city. The city now has a population of 899,447 people, and 1,159,869 people in the Greater Edmonton area which includes St. Albert, Sherwood Park, Spruce Grove and other surrounding communities. This region has had the second highest population growth in Canada, which results in significant growth in the formation of new households and therefore demand for new housing, including new multi-family homes.
End user purchasers have continued to drive Edmonton’s new multi-family home market in the townhome and wood frame condominium sectors of the outer sub-markets. The new Ice District development in Edmonton has brought previously absent investors to the concrete condominium sector of Edmonton’s downtown core. After being dominated by primarily office uses, new comprehensive condominium developments have begun to transform the downtown core into a more vibrant area, particularly after business hours. The completion of the new Rogers Place arena along with plans for additional new retail, hotel and restaurant uses, and new condominium developments such as Lamb Development’s Jasper House, Westrich Pacific’s Encore Tower and Langham Development’s Fox Towers will continue this transformation.”