In Calgary, apartment building construction is booming as more Canadians embrace rentals

Calgary is experiencing a surge in rental apartment construction as demand for housing intensifies across Canada. With nearly 2,800 new units started in 2022 alone, developers are responding to a long-standing shortage of rental supply. Rising interest rates, population growth, and affordability challenges are pushing more Canadians toward renting rather than homeownership. While new developments may ease short-term pressure, industry experts warn that ongoing cost increases and strong demand could continue to strain the rental market.