Considering the conversations in the news recently about wage growth and how to respond to the rising cost of living, I thought I would discuss a favorite tax ‘reward’ - more net take home pay.
Calgary’s desirability is growing fast, causing quick movement in the housing market. With low cost of living, an up-and-coming tech sector, and loosened COVID-19-related travel restrictions, Calgary is a popular destination for both domestic movement and international assignees.
With the COVID-19 pandemic leading to a number of professionals working from home, cities across the globe have shown decreased demand for rentals in inner cities and higher demand in the suburbs.
At the beginning of 2020, I surveyed Fort McMurray, an oil town in northeast Alberta, Canada. In January, there are limited outdoor activities in Alberta, so on a Sunday, it was recommended I go to a “park” walkable from the hotel.
Tenants in Canada (and most of the world) are required to pay for rent and utilities, as well as extra amenities like cable TV and internet. There are some parts of Canada, however, where renting water heaters is common, and the question of who pays – tenant or landlord – can cause confusion.
Rents increased in Neuquen due to higher demand and low vacancy rates. Real estate agents have clients on waiting lists for apartments, and rentals are not listed for long before being rented. Construction projects are underway for new apartment buildings, which should help increase the number of 2-3-bedroom apartments. However, with growing expatriate demand, rents may increase over the next 6-12 months.