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With more than 18,000 units in its 400 communities, Saskatchewan is without a doubt an apartment friendly province. If anything that rate is more per capita than all the other provinces in Western Canada. Last year alone, there were more than 1000 units added to the market, most of which were rental apartments. The province is now focused on attaining a balanced rental market, which is three percent.
Looking at Saskatchewan’s current population of 1,078,968 which is projected to hit 1.2 million by the year 2020, there is an urgent need for affordable housing. The government estimates that for the province to accommodate growth, it has to ensure that at least 7000 units are but annually over the next seven years. Fortunately for people with low income, the province has introduced a capital rent subsidy program purposely meant to encourage local and international investors to build apartment rentals. The subsidy is available to low or rather moderate income families and people on social assistance. It provides $40,000 to a private landlord who must then agree to reduce the tenant’s rent by $300 every month for 10 years.
Glenn Elm, Coronation Park and The General Hospital areas are just but some of the most affordable areas in Regina, Saskatchewan’s capital. The areas boast of adequate apartment rentals, most of which are affordable. Other neighborhoods such as North Argyle Park, Lakewood and Engelwood are largely family oriented and mostly consist of single detached homes. Parliament Place and South Albert Park are also ideal neighborhoods for home seekers looking for apartment rentals.
