Greater Calgary multifamily overview
Fall 2024
Multi-residential trends to watch
01. Population and rent growth
The Calgary rental market is experiencing a period of incredible growth, fueled by a massive influx of new residents. The search for affordability, flexibility, and lifestyle has driven many Canadians to relocate to Alberta, evidenced by domestic migration numbers that leads the country. Also, with the country welcoming half a million new immigrants per year through 2026, it is expected that new watermarks for growth will be reached in the near future.
02. Property values debt and equity
As demand for all types of housing continues to rise, the debt market remains under pressure to serve a growing population. Calgary's property values have increased, but remain significantly lower than many of its peers in both eastern and western Canada. Rental rate growth is expected to contribute to both supply and demand in the multifamily market.
03. Market insights and transactions
With a limited supply of new purpose-built rental products, investors of all shapes and sizes are looking to capitalize on an underserved market. Meanwhile, construction is moving at a torrid pace to make up for the supply gap. Calgary has entered the spotlight among the investment community as a promising market for both development and capital allocation.
Total interprovincial migration
Projected population growth
Total rent growth
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