Best places to buy Airbnb property in Alberta, Canada
Welcome to Alberta, Canada, a land of captivating natural beauty and thriving cities that present lucrative investment opportunities in Airbnb real estate. Whether you're a seasoned investor or a first-time buyer, this article will guide you through the best cities in Alberta to purchase Airbnb properties. We'll delve into the unique advantages and investment potential of top cities in Alberta. From vibrant urban centers to serene mountain getaways, Alberta offers diverse locations to suit your investment goals.
Best Cities in Alberta to Invest in Airbnb Real Estate
So, let's talk about which locations in Alberta are the most promising regarding the rental business.
Edmonton
Situated in the heart of Alberta, Edmonton is a city that combines cultural richness with economic vitality. As the capital city, Edmonton offers diverse attractions, including the renowned West Edmonton Mall, art galleries, museums, and vibrant festivals. The city's growing tourism sector makes it an attractive destination for leisure and business travelers, ensuring a steady stream of potential guests for Airbnb hosts.
Edmonton's real estate market provides a wide variety of options for investors, from trendy downtown apartments to spacious suburban homes.
- Average Daily Rate (ADR): $92
- Occupancy Rate (OR): 63%
- Revenue: $1,146
- Active Rentals: 2,604
One of the key advantages of investing in Edmonton is the city's strong local economy. Edmonton is a hub for industries such as oil and gas, healthcare, education, and technology, attracting professionals and visitors from various sectors. This economic stability contributes to the consistent demand for short-term rentals, making it an enticing opportunity for Airbnb investors.
Edmonton offers a welcoming environment for Airbnb hosts. However, you can be more successful using professional property management services such as Hearthomes (https://hearthomes.ca/airbnb-management-in-edmonton/) which can help you streamline various day-to-day tasks.
Calgary
As the largest city in Alberta, Calgary offers excellent investment opportunities for Airbnb property buyers. Known for its economic stability and quality of life, Calgary attracts business and leisure travelers throughout the year. The real estate market in Calgary offers a wide range of properties, including stylish condos and spacious houses. If you're considering investing in Calgary, check out Hearthomes (https://hearthomes.ca/airbnb-management-in-calgary/) for professional Airbnb management services.
- ADR: $108
- OR: 71%
- Revenue: $1,439
- Active Rentals: 4,321
In 80% of cases, houses are rented out, and 20% - private rooms. Most houses have internet and parking, but only 41% of properties have air conditioning.
Wetaskiwin
Nestled in the heart of central Alberta, Wetaskiwin is a hidden gem for Airbnb property investors. This picturesque city offers a serene atmosphere and a close-knit community. Despite its smaller size, Wetaskiwin has a growing tourism industry, attracting visitors with its natural beauty and cultural sites. The local real estate market offers a variety of properties, including charming cottages and comfortable townhouses.
- ADR: $210
- OR: 90%
- Revenue: $5,262
- Active Rentals: 6
Wetaskiwin mostly rents out private rooms. You will have few competitors here, so you can attract customers if you offer them your hospitality and basic amenities.
Canmore
Surrounded by the stunning Rocky Mountains, Canmore is a dream destination for outdoor enthusiasts and nature lovers. This scenic town offers natural beauty and recreational activities, making it a popular tourist spot. Canmore's real estate market primarily consists of vacation rental properties, providing investors various options, from cozy cabins to luxurious chalets.
- ADR: $212'
- OR: 74%
- Revenue: $3,562
- Active Rentals: 1,942
If you're looking for an investment property that combines natural beauty with excellent rental potential, Canmore is an ideal choice. Two-bedroom houses are often rented here; 38% of the houses have a pool, and 59% have a hot tub.
Banff
Renowned for its breathtaking landscapes and world-class skiing, Banff is a top destination for outdoor adventures. This iconic town attracts millions annually, offering a thriving tourism industry. Investing in an Airbnb property in Banff gives owners a unique opportunity to capitalize on the town's popularity and attract guests seeking unforgettable experiences. Banff's real estate market features a mix of properties, from cozy condos to spacious mountain retreats.
- ADR: $284
- OR: 63%
- Revenue: $4,595
- Active Rentals: 147
Both 1-bedroom houses and private rooms are popular here. Tourists come to Banff for comfort, so investing in a house with a pool and hot tub is better. Also, take care of a comfortable atmosphere in the house. Banff is truly a paradise where people come to relax and rejuvenate.
Conclusions
In conclusion, Alberta, Canada, offers many opportunities for investors looking to purchase Airbnb properties. Regardless of the city you choose, it's essential to conduct thorough research, consider your investment goals, and work with professionals to ensure success in the Airbnb real estate market. Whether you're a seasoned investor or a first-time buyer, Alberta's cities provide enticing options for acquiring Airbnb properties and becoming a successful host. So, start exploring the best cities in AB and take the first step toward a rewarding Airbnb investment journey. You will receive a stable income and develop your business.
