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- Sep 14, 2007
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http
://www.cbc.ca/canada/calgary/story/200...s-vacancy.html
Calgary`s vacancy rate has more than doubled in the past year, but rents remain among the highest in the country.
The city`s rental vacancy rate jumped to 4.3 per cent in April from two per cent in the same month a year earlier, according to Canada Mortgage and Housing Corporation. But the average rent for a two-bedroom unit during the same period rose to $1,106 from $1,096.
Industry insiders say the slower economy has fewer people moving to Calgary, while existing renters have incentives to buy.
"Interest rates for home ownership are so low now for mortgages, people are leaving and buying new homes," said Gerry Baxter, president of the Calgary Apartment Association.
New tenants are sometimes seeing perks like free cable or even a break on rent for the first month.
......
://www.cbc.ca/canada/calgary/story/200...s-vacancy.html
Calgary`s vacancy rate has more than doubled in the past year, but rents remain among the highest in the country.
The city`s rental vacancy rate jumped to 4.3 per cent in April from two per cent in the same month a year earlier, according to Canada Mortgage and Housing Corporation. But the average rent for a two-bedroom unit during the same period rose to $1,106 from $1,096.
Industry insiders say the slower economy has fewer people moving to Calgary, while existing renters have incentives to buy.
"Interest rates for home ownership are so low now for mortgages, people are leaving and buying new homes," said Gerry Baxter, president of the Calgary Apartment Association.
New tenants are sometimes seeing perks like free cable or even a break on rent for the first month.
......