Holding line on property taxes is good news for Edmonton real estate

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But in a rapidly changing market where prices are volatile, the tax picture of today, based on the assessment of last year — which involves estimates founded on similar homes sold in the area — can be misleading, says Shearer, broker and owner of Royal LePage Noralta Real Estate.

Understanding the potential total tax bill can be telling. Consider an estimated bill for 2020 based on the average sale price of a single-family detached home for October ($442,854) using recent RAE data.

A rough estimate of the bill is $4,130. That’s based on a $9.326 mill rate per $1,000 of assessed value shown in the Altus report. The sum would still be an increase from last year when the average price was $422,145 last October. Altus noted the tax rate then was $9.081 per $1,000 for residential. Using this figure, the annual property tax bill would have

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Rollercoaster economy makes Edmonton affordable for first-time buyers

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Driving national averages upward are the traditionally high-priced markets in B.C.’s Lower Mainland, Victoria, and Toronto with its surrounding areas. For example, the Fraser Valley saw apartment condo prices rise over the five-year span by 104 per cent to $437,300 on average. And in the Niagara Region, the benchmark single-family home price rose by 95 per cent over the last five years, or a $239,300 jump in value.

That’s the highest among the segment nationally. In Alberta, Calgary has experienced a similar fate to Edmonton, Haw says.

“Unfortunately, it’s been a rollercoaster in the last decade,” she says about both markets, which were among the hottest in the nation when oil prices were around $100 US a barrel up to the third quarter of 2014.

Both markets, she adds, were showing signs of recovery at the start of the year. Then came COVID-19.

“COVID, unfortunately, pushed Alberta

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Sky Residences swaps highrise Edmonton condos for luxury rental suites

Condos originally slated for the upper floors of Stantec Tower are being converted into luxury rental suites in Edmonton’s downtown because of the COVID-19 pandemic.



a living room filled with furniture and a large window: A residential unit at the SKY Residences in Stantec Tower which will now be available for rent mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada's tallest building.


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A residential unit at the SKY Residences in Stantec Tower which will now be available for rent mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada’s tallest building.

Sky Residences at Ice District announced 168 rental units on floors 31 to 42 will be available starting on Tuesday. The 66-floor tower, Canada’s tallest building outside of Toronto, originally intended to offer roughly 484 condo units with prices ranging between $300,000 to $700,000. Some of the more spacious condos jumped to more than $1 million in price.

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Tim Shipton, senior vice president of communications

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Sky Residences swaps Edmonton condos for luxury rental suites

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Shipton said there will be rental options with long- and short-term leases.

“We also think this creates a very nice path to purchase, in particular, for young professionals,” he said. “You rent here in Sky Signature Suites, you get climatized to the lifestyle and then you can transition into a condo later on.”

Stantec residents will also have access to the amenities at the neighbouring JW Marriott, a rooftop terrace, an infrared sauna, a fitness facility and a golf simulator.

A residential unit at the SKY Residences in Stantec Tower. which will now be available for rent, mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is western Canada's tallest building. (Photo by Larry Wong/Postmedia)
A residential unit at the Sky Residences in Stantec Tower, which will now be available for rent, mainly due to the economic climate created by the COVID-19 pandemic. The downtown Edmonton luxury suites are located in the Ice District across the street from Rogers Place. The Stantec Tower is Western Canada’s tallest building. Photo by Larry Wong /Postmedia

Housing market recovering

Edmonton’s housing market has been

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