Apartment vacancies in the Ottawa market are expected to fall in 2012 amid LRT planning and the Department of National Defence move to Kanata in the next few years.
A report by Rock Advisors Inc., an apartment brokerage firm based in Burlington, Ont., forecasts vacancies to fall and rents to increase in the coming year.
“The presence of international diplomats and many other officials visiting the city for a few months out of the year have given the city a big market in furnished apartments, as well as short-term rentals. When the world looks to invest, Ottawa is a standout,” the report reads.
OBJ360 (Sponsored)

Canada’s next winter ‘hot spot’ is Prince Edward Island
There’s so much to do to this winter in Prince Edward Island, and a community of Islanders who’d love to show you around.

Gabriel Pizza, a community champion serving up more than just great food
You would be hard-pressed to find someone living in Ottawa who hasn’t had a slice of Gabriel Pizza. Served up in 42 restaurants in Ontario and Quebec, at events including
Ottawa has one of the highest apartment concentrations in the province, with 6.76 units per 100 people, the report states. However, vacancy rates have been below two per cent since 2006 and rents have been increasing faster than the provincial rate since 2009.
The capital has added 11 new apartment buildings to rental stock since 2007, the report added. Supply is expected to increase in the coming year (the report did not specify why) and the cap rate will be about 4.75 per cent to 5.75 per cent.