Quote:
Originally Posted by MR_BIGGS
Rent is surprisingly high in Edmonton. Talking to a few owners, they are making a small positive cash flow after costs. That said, strata fees continue to rise, leading them to increase rent.
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Rent is high compared to buying costs, but still holds more value here in the property itself I believe. (obviously only for people that enjoy living in edmonton, i.e. hate outdoors and anything that is nice, and are only interested in a high paying job) My place is 4 years old now, well over 1000 square feet, and is full of high quality finishings. Also in my area, vacancy rates are hovering around the 1%-1.5% mark which is insanely low. Stratas are high, but not far off the 35 cents a square foot you'd find in a new building in vancouver. Its just that its double the size of the place I'd own here. There are lots of jobs in edmonton, and if I wasn't an outdoorsy person all year round, it makes sense to live there.