Within recent quarters, Edmonton has seen moderate increases in industrial rental rates, and a return in people seeking retail and office space as return-to-work plans are implemented. The largest story in the City is related to multi-family asset classes.
· Units under construction increased from an average just under 3K from 2015 to 2019, to an average over the last two years near 4.5K.
· Rents have increased for most multi-family assets and are expected to remain strong until 2024 when net deliveries of buildings currently under construction will come to market.
· Cap rates have begun to increase in recent months after bottoming out in the second quarter.
Please let me know if there’s any questions we can help you answer around real estate in Northern Alberta.