The overall vacancy rate for a standard space in retirement homes in Alberta increased from 10.5 per cent in 2017 to 15.4 per cent in 2018, according to the Seniors’ Housing Report released on Tuesday by Canada Mortgage and Housing Corp.
The report said the vacancy rate increase was the largest in Calgary, up 5.9 percentage points to 18.9 per cent in 2018.
“Part of the increase in (the) vacancy rate was due to an increase in supply of units as the universe of spaces increased from 12,624 units in 2017 to 13,655 units in 2018,” said the CMHC of the Alberta situation.
“Demand for units has also increased by 4.4 per cent as the number of seniors living in standard spaces increased from 12,477 in 2017 to 13,030 in 2018.”
The report said the overall average monthly rent for a standard space in Alberta was $3,296 in 2018 compared to $3,015 in 2017.
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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