Multi-family housing to benefit both landlords and renters: report
By Bill Mah, edmontonjournal.comJanuary 20, 2009 1:13 PM
EDMONTON — Despite economic uncertainty, Edmonton’s multi-family housing market in 2009 will bring some benefits to both landlords and renters, says a new report.
“Billions of dollars have been invested in the economic growth of northern Alberta and, unless the worldwide demand for oil remains depressed, the long-term forecast for Edmonton will continue to be positive,” said the annual Edmonton Apartment Report released Tuesday by Cushman and Wakefield.
“As worldwide demand for energy grows, Alberta’s economy will grow with it, and the jobs created and labour required will no doubt have positive effects on the multi-family market.”
The apartment vacancy rate for 2008 was 2.4 per cent, up from 1.5 per cent in 2007 and 1.2 in 2006.
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