Grande Prairie
- Thread starter dzerykdm
- Start date
- Joined
- Apr 27, 2010
- Messages
- 351
Things are starting to turn around here now. Rents are starting to come up a bit as the jobs are returning. The market is pretty flat for the real estate side and has been pretty much sideways for the past 18 months now. In fact, if anything they might be down about 1 % in the last year. I am upbeat about the future. The gas sector is still pretty quiet though. Looking down the road, if the hospital gets built, that should provide a boost as it will mean lots of good permanent jobs, if they can find people to work there, that is.
J
jhoper
Guest
Guest
If you currently own property in GP (as I do) then it is beginning to appear we have an upside to look forward to. There is lot of activity starting to show up in oil and gas and forestry. Although our vacancies have always been quite low the past 3 years because of our approach to managing our properties we are seeing even stronger inquiries and showings. We have been testing the market and have been succesful increasing many of our property rents. My current strategy is to stagger our leases with a mix of short term ie 3 months, mixed with longer term. ie 1 year leases.
If you are not currently invested in GP and have a very long term view for investing, there are certainly some buying opportunities driven by motivated vendors who don't do a great job of managing their property available in the GP market. You have to be willing to ride the roller coaster economy of GP.
If you are not currently invested in GP and have a very long term view for investing, there are certainly some buying opportunities driven by motivated vendors who don't do a great job of managing their property available in the GP market. You have to be willing to ride the roller coaster economy of GP.