11-13-2021, 11:21 PM
(11-12-2021, 01:11 PM)panamaniac Wrote: Will they, or will they be above-average rents, I wonder?
New builds most certainly will be on the higher end of rent costs. What happens though, older builds have to start discounting rents. If you are in a new rental unit, paying $1800 is OK if you're the first tenant. IF you are in an older building, with 30-70 years of tenant history, $1800 is a bit much. So new builds should reduce rental costs of old builds.
Problem is, Kitchener (the region) has a low vacancy rate. Until the city shuts down NIMBY's and let developers develop high density projects, we'll continue to have high rental costs.