Regina Real Estate – the numbers speak for themselves:

• + 10% price increases are expected for 2007 (Source: CMHC)
• 21% is the year-on-year rise to June 2006 for new houses
• - 7.3% is the decrease in overall housing supply
• - 48% is the reduction of condominium supply in 2004-2005
• + 14% is the resultant price increase for condominiums per square foot
• 3% is the steady historical vacancy rate for Regina
• 100% of money invested in this market is smart money

The first quarter shows significant rises in new starts, but they are following an interesting trend that makes Sunrise Gardens even more attractive. Single-family house starts are up 12.6% and row condominium buildings are up 33%. The supply and demand picture for owners of refurbished condominium buildings looks very promising.

There is currently a 0.3% upwards blip in condominium vacancies, but this tends to reflect the poorer condition of apartments in the less affluent areas. As the economic picture for Regina continues to improve and earnings start to rise, more and more people will seek more desirable apartments in attractive neighbourhoods… such as Sunrise Gardens. Rental rates are projected to remain steady for the immediate future.

Rental rates are projected to remain steady for the immediate future. As housing becomes more expensive, rental demand will rise and owners of medium-rent refurbished apartments will be in a very comfortable position. Employment is in transition from the service sector to goods, but overall wages are rising steadily and local GDP remains around 3%. Regina’s general economic scenario is reassuring for investors in rental property.

Commercial real estate activity is healthy, with increasing speculative buying of industrial land for the coming boom, and with more immediate construction of retail space – the biggest this year being the $22.9 million River City Mall.

“(Regina) Employment gains in the 15-24 age cohort good news for landlords” – CMHC rental market report