“Edmonton has seen a similar trend to Calgary with lower vacancies at an average of 8.5 percent across the market,” says Kendall Brown, manager of rental data for Zonda Urban for Alberta and Ontari

Despite rising demand, rents per square foot decreased slightly. Average rents decreased 2.2 per cent from the third quarter of 2021 to the fourth quarter.

“Judging by how active most builders continue to be during the pandemic, it seems to have been more or less fine,” says Jackson Cornelius, director of advisory at Zonda Urban, which was formerly Ur

"Townhouse and apartment benchmarks rose approximately 30 per cent year-over-year, to $771,200 and $520,700, respectively, by the end of December.

“Calgary has seen more consistent activity, as well as more consistent project launches in both wood-frame condominium and townhome projects,” said Cornelius.

“Because of the downturn in oil and gas (a few years ago), developers reassessed their projects and converted a lot of existing new condominium units to rentals,” says Jackson Cornelius, director o