Quote:
Originally Posted by xubiqtss
So it seems to me that Winnipeg has been in an apartment building frenzy for the last several years, but I was hoping that someone might enlighten me as to why?
I just can't for the life of me seem to make the numbers work in my head.
Winnipeg has a historically high rental vacancy rate, who are all these rentals for?
To make the situation even more bizarre, the average rate of these units is over $1500! Putting them out of reach of a large chunk of the population (hence the high vacancy rate I suppose)
So honestly, how do these numbers work for anyone? 
Are we heading for a crash in which there are a glut of units and no one to rent? |
new construction leases out almost immediately everywhere except downtown.
Overall vacancy rate for purpose built rentals was 3.8% in 2020 and was up about two percent in 2021 largely because of the pandemic. For condominium rentals vacancy is only about 2%. Winnipeg has not had historically high vacancy rates. Generally its about the national average or slightly above.