Updated: Mar 29
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.
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