This question lacks context, about you, your goals, the price point, the unit size you have in mind, the $s you have to invest, condo fees payable, your other income, the rent level or if you wish to move in yourself.
It is like asking: Is the Ford Focus a good car for me ?
It is a competitive market place and most products are competitively priced, but generally rents are not high enough to allow cash-flow with 20% down after condo fees, property taxes and a management fee for a PM.
Downtown Edmonton will do well in time, but there is a lot of bare land on the north and east side of downtown, so it will be a long LONG time before prices will rise substantially, but perhaps budget 2-4%/year. If you can make the numbers work, why not, but much competitive product will come on the market over the next few years.
