According to data from Zumper, 3 of the most expensive cities in Canada to rent a 1 bedroom were in BC (Vancouver, Burnaby and Victoria). Toronto was just behind Vancouver with a median 1 bedroom renting for $2,100 (up 5% MoM and 22.8% YoY). 2 Bedrooms are renting for $2,700 (up 2.7% MoM and 22.7% YoY).

The Bank of Canada just announced that they will be raising interest rates by 1%. This increase was higher than the expected 0.75% increase because inflation has been running at almost 8%, well above the bank’s target of 2%.

Doug Schweitzer, Alberta Job Minister, recently said that 200,000 more jobs were added in Alberta since January 2021. The unemployment rate in Alberta has dropped to 4.9%, the lowest it’s been since 2015.

The rent increase guideline is the maximum amount a landlord can increase rent during the year for most tenants. In Ontario, that amount for 2023 is 2.5% which is below the current rates of inflation. Compare that to Calgary ….

Telus will be investing an incredible $17 billion into Alberta's network infrastructure. This means they will be hiring for a massive number of highly skilled, well paid positions, mostly in construction and engineering positions.

Canada was just ranked as the top country in the world to relocate to by 50 other countries around the world. Most immigrants settle in major cities and I am bullish on Calgary, Toronto, Vancouver & Montreal long-term!

Investing in Calgary or any part of Alberta from out-of-province is just like buying real estate in your hometown. Everything can be done remotely and even from the comfort of your couch!

Condo popularity is roaring back to life and a continued lack of listings mean prices are continuing to go up!