Investing in Calgary

[Tushar Sharma]

There seem to be some good deals out there for Calgary condos. I currently hold two in the same building that have been rented out to the same tenants for the last two years and are run by a management company (I live in Toronto)

I’m thinking of picking up a couple more since the prices have dropped. I haven’t had to replace a tenant yet, how are the vacancy rates? Are you having trouble finding tenants in the depressed market? 

[Stuart Bartwicki]

Hi Tushar, You're right about there being good deals on condos in Calgary. I work in the Calgary real estate space and have recently seen clients get some great deals. The vacancy rate is dropping, closer to about 6% now. Net migration is due to increase in the next couple of years and tougher mortgage rules have forced potential first-time buyers to stay in the rental market. The future is looking great for condo landlords.