Improvements in rental demand in Calgary-Alberta

June 19, 2011 - PRLog -- |www.preigCanada.com| http://www.WorldWealthBuilders.com |

Improvements in rental demand lowered the apartment vacancy rate to 3.6 per cent in 2010 from 5.3 per cent in 2009, says Canada Mortgage and Housing Corp

"After the recession of 2008,this is definitely great news for Professional Real Estate Investors" says Navtaj Chandhoke, founder of World Wealth Builders, the company specialize in providing Canadian Real Estate Investors education and mentoring since 1993.

Now with the economy showing signs of strengthening, demand for rental accommodation is expected to rise again this year, says Canada Mortgage and Housing Corp. It is forecasting a citywide vacancy rate of 3.4 per cent for 2011, declining to 2.9 per cent in 2012 -again in tandem with outlooks for a healthier economy.

"With stronger demand for rental units and lower vacancies, fewer incentives will be offered," says senior market analyst Richard Cho of CMHC. "Property owners and landlords will have an opportunity to increase rents this year following two consecutive years of declines."

But with that healthier demand, the opportunity to take advantage of incentives decreases, says CMHC. In addition, property managers and Professional Real Estate Investors could increase rents after two years of declines.

The average two-bedroom rent is forecast to reach $1,090 this year and then climb to $1,120 next year.A two-bedroom unit in Alberta averaged $1,029 -about the same as a year earlier -in April, followed by B.C. ($1,015) and Ontario ($980).

The Canadian average two-bedroom rent was $864 in April, compared to $848 in April 2010.

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Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author, educator and the founder of World Wealth Builders, leading RE investors education,mentoring, support and network of over 4900+ Canadian investors.
www.WorldWealthBuilders.com | www.preigCanada.com |