Beyond the Borders: Unlocking Investment Riches in Alberta’s Real Estate Hotspots: A New Chapter for Canadian Investors
Many savvy investors are expanding their horizons as a result of record-high home prices in Ontario and British Columbia, and Alberta is quickly emerging as the preferred location for multi-family real estate. Calgary and Edmonton are ripe with opportunity, whether you’re looking for strong cash flow or a market with room for growth. Why Alberta Works by the Numbers Population Growth: Alberta leads the country in interprovincial migration. People are moving here for jobs and affordability. Economic Diversity: Energy, tech, logistics, film production, agriculture, you name it. Strong Rental Demand: The low vacancy rates and affordable rent-to-income ratios in Calgary and Edmonton draw long-term tenants. Remote Investing?This is how it works:1. Lean on a Property Management Company. It may sound intimidating to manage a building from thousands of miles away, but with the right assistance, it is completely doable. Green Casa, for instance, offers boots-on-the-ground support to make sure your tenants are cared for and your asset is protected. 2. Make use of virtual inspections and tours. Technology lets you stay up to date even when you’re not physically present, whether it’s through Zoom walkthroughs or professional inspection reports.3. For financing, look into MLI Select. Want to acquire a 10- to 20-unit apartment building with a 50-year amortization and a 5% down payment? CMHC’s MLI Select program can make this possible for properties that meet affordability or energy efficiency targets. Key Neighborhoods to Watch In Calgary: Beltline is a great place for young professionals and people who can walk there. Forest Lawn: Opportunities for adding value.Skyview Ranch & Redstone: Popular among new Canadians and families Edmonton, AB: Oliver and Downtown: Potential for high rent and urban renewal. Mill Woods is a well-established neighborhood with a high rental demand. Westmount is a mix of beautiful and profitable properties. The distance won’t stop you.Fear of the unknown is the greatest obstacle for many investors from outside the province.However, Alberta is a strategy, not a wager. If you do your homework, partner with the right people, and think long-term, your Alberta portfolio could outperform your local market.