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Alberta will lead the country in housing price growth, with an avg increase of 7% to ~$480K. This is a double-edged sword, good for homeowners but challenging for first-time buyers.

City council passed the 2024 tax bylaw, finalizing an 8.9% increase to municipal property taxes for the year. In 2024, residential properties will pay $766/$100K assessed value, $66 more than 2023.

Alberta's housing market is expected to break records in 2024 due to high demand and population growth. However, there remains a housing gap of 130K to 170K dwelling units in the province.

Rising Home Prices: The reports highlight soaring housing costs across Alberta municipalities. Factors Driving Prices: Limited housing supply, population growth, immigration, and low interest rates contribute.

Escaping high taxes entirely may prove challenging, but Alberta's tax-friendly environment makes it an attractive destination.Alberta offers affordable housing with no provincial sales tax or Land Transfer Tax, entice purchasers from other provinces.

The median rent for a 1-bed in Edmonton was $1,320 in April. It was ↑ 1.5% MoM and ↑ 28.2% yearly.

Alberta introduces new legislation to protect seniors in life-lease agreements. The law allows for interest penalties on late repayments and increased transparency.

Rent in Alberta is rising faster than anywhere else in Canada despite the national avg going down. Edmonton rent was $1,339/mo in March for a 1-bedroom apartment, ↑ 2.1% MoM but ↑ 18.5% yearly.