As quoted in last weeks Ottawa Business Journal, Brad Lamb has confirmed that "there is about a 70 per cent chance that his company, Lamb Development Corp., will either market the 19-storey, mixed-used tower as an apartment complex itself or sell it to another institutional investor, which will then reap the long-term rewards of rental income."
The article speaks about the increasing rental market across Canada - "Toronto, which has more than 20 apartment projects under way, but many housing analysts say it’s only a matter of time before things pick up here [in Ottawa]." Citing reasons such as low interest rates that make construction cheaper, a current condo market, rising rents and higher home prices, along with a lack of high quality (condo-like) rentals.
What does this mean for single investors who purchase pre-construction units to rent out?
