Have you given Edmonton consideration as an investment opportunity lately? If not, and you’re a serious investor on the look-out for outstanding opportunities, then Edmonton deserves a good look.
All it has to Offer
Edmonton is located in Alberta, Canada, one of the richest oil lands in the country, where oil and gas are fueling the economy and driving population and infrastructure growth. Investors are becoming increasingly interested in this area for many reasons, but especially for the amazing opportunities to take residential units and transform them into income-producing rental properties.
According to a recent report from the REALTORS Association of Edmonton, there were about 920 residential units sold in January 2013 alone. Because of this, inventory is on the decline, and is currently sitting around 3,743, compared with 4,265 at this time last year. Prices of course, have also been affected, rising from $320k last year to nearly $329k now.
As I always preach, there are four things that must be considered in every real estate investment. You must consider:
When these four considerations produce favorable results, the investment is worth your time.
In Edmonton, the economy is driving job growth, and increasing the population while driving down unemployment. The local government is making significant investments to infrastructure as well, and the local GDP is simply booming. All indications are there that this is a great time and place to invest. And, because it is such a highly desirable place where the inventory of housing is depleting, investors are able to charge more for their rental properties, therein getting more on their investment. And, these numbers are only expected to rise in the coming months.